10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2021

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________to_________

Commission file number	Registrant, State of Incorporation or Organization, Address of Principal Executive Offices and Telephone Number	IRS Employer Identification Number
1-32853	DUKE ENERGY CORPORATION	20-2777218

(a Delaware corporation)

550 South Tryon Street

Charlotte, North Carolina 28202-1803

704-382-3853

1-4928 DUKE ENERGY CAROLINAS, LLC 56-0205520

(a North Carolina limited liability company)

526 South Church Street

Charlotte, North Carolina 28202-1803

704-382-3853

1-15929 PROGRESS ENERGY, INC. 56-2155481

(a North Carolina corporation)

410 South Wilmington Street

Raleigh, North Carolina 27601-1748

704-382-3853

1-3382 DUKE ENERGY PROGRESS, LLC 56-0165465

(a North Carolina limited liability company)

410 South Wilmington Street

Raleigh, North Carolina 27601-1748

704-382-3853

1-3274 DUKE ENERGY FLORIDA, LLC 59-0247770

(a Florida limited liability company)

299 First Avenue North

St. Petersburg, Florida 33701

704-382-3853

1-1232 DUKE ENERGY OHIO, INC. 31-0240030

(an Ohio corporation)

139 East Fourth Street

Cincinnati, Ohio 45202

704-382-3853

1-3543 DUKE ENERGY INDIANA, LLC 35-0594457

(an Indiana limited liability company)

1000 East Main Street

Plainfield, Indiana 46168

704-382-3853

1-6196 PIEDMONT NATURAL GAS COMPANY, INC. 56-0556998

(a North Carolina corporation)

4720 Piedmont Row Drive

Charlotte, North Carolina 28210

704-364-3120

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

Name of each exchange on

Registrant    Title of each class    Trading symbols        which registered

Duke Energy    Common Stock, $0.001 par value    DUK    New York Stock Exchange LLC

Duke Energy    5.125% Junior Subordinated Debentures due    DUKH    New York Stock Exchange LLC

January 15, 2073

Duke Energy    5.625% Junior Subordinated Debentures due    DUKB    New York Stock Exchange LLC

September 15, 2078

Duke Energy    Depositary Shares, each representing a 1/1,000th    DUK PR A    New York Stock Exchange LLC

interest in a share of 5.75% Series A Cumulative

Redeemable Perpetual Preferred Stock, par value

$0.001 per share

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Duke Energy Corporation (Duke Energy)	Yes	☒	No	☐	Duke Energy Florida, LLC (Duke Energy Florida)	Yes	☒	No	☐
Duke Energy Carolinas, LLC (Duke Energy Carolinas)	Yes	☒	No	☐	Duke Energy Ohio, Inc. (Duke Energy Ohio)	Yes	☒	No	☐
Progress Energy, Inc. (Progress Energy)	Yes	☒	No	☐	Duke Energy Indiana, LLC (Duke Energy Indiana)	Yes	☒	No	☐
Duke Energy Progress, LLC (Duke Energy Progress)	Yes	☒	No	☐	Piedmont Natural Gas Company, Inc. (Piedmont)	Yes	☒	No	☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Duke Energy	Yes	☒	No	☐	Duke Energy Florida	Yes	☒	No	☐
Duke Energy Carolinas	Yes	☒	No	☐	Duke Energy Ohio	Yes	☒	No	☐
Progress Energy	Yes	☒	No	☐	Duke Energy Indiana	Yes	☒	No	☐
Duke Energy Progress	Yes	☒	No	☐	Piedmont	Yes	☒	No	☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Duke Energy	Large Accelerated Filer	☒	Accelerated filer	☐	Non-accelerated Filer	☐	Smaller reporting company	☐	Emerging growth company	☐
Duke Energy Carolinas	Large Accelerated Filer	☐	Accelerated filer	☐	Non-accelerated Filer	☒	Smaller reporting company	☐	Emerging growth company	☐
Progress Energy	Large Accelerated Filer	☐	Accelerated filer	☐	Non-accelerated Filer	☒	Smaller reporting company	☐	Emerging growth company	☐
Duke Energy Progress	Large Accelerated Filer	☐	Accelerated filer	☐	Non-accelerated Filer	☒	Smaller reporting company	☐	Emerging growth company	☐
Duke Energy Florida	Large Accelerated Filer	☐	Accelerated filer	☐	Non-accelerated Filer	☒	Smaller reporting company	☐	Emerging growth company	☐
Duke Energy Ohio	Large Accelerated Filer	☐	Accelerated filer	☐	Non-accelerated Filer	☒	Smaller reporting company	☐	Emerging growth company	☐
Duke Energy Indiana	Large Accelerated Filer	☐	Accelerated filer	☐	Non-accelerated Filer	☒	Smaller reporting company	☐	Emerging growth company	☐
Piedmont	Large Accelerated Filer	☐	Accelerated filer	☐	Non-accelerated Filer	☒	Smaller reporting company	☐	Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Duke Energy	Yes	☐	No	☒	Duke Energy Florida	Yes	☐	No	☒
Duke Energy Carolinas	Yes	☐	No	☒	Duke Energy Ohio	Yes	☐	No	☒
Progress Energy	Yes	☐	No	☒	Duke Energy Indiana	Yes	☐	No	☒
Duke Energy Progress	Yes	☐	No	☒	Piedmont	Yes	☐	No	☒

Number of shares of common stock outstanding at July 31, 2021:

Registrant	Description	Shares
Duke Energy	Common stock, $0.001 par value	769,337,598

This combined Form 10-Q is filed separately by eight registrants: Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont (collectively the Duke Energy Registrants). Information contained herein relating to any individual registrant is filed by such registrant solely on its own behalf. Each registrant makes no representation as to information relating exclusively to the other registrants.

Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont meet the conditions set forth in General Instructions H(1)(a) and (b) of Form 10-Q and are therefore filing this form with the reduced disclosure format specified in General Instructions H(2) of Form 10-Q.

TABLE OF CONTENTS

	Cautionary Statement Regarding Forward-Looking Information
PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements
	Duke Energy Corporation Financial Statements	9
	Duke Energy Carolinas, LLC Financial Statements	15
	Progress Energy, Inc. Financial Statements	19
	Duke Energy Progress, LLC Financial Statements	23
	Duke Energy Florida, LLC Financial Statements	27
	Duke Energy Ohio, Inc. Financial Statements	31
	Duke Energy Indiana, LLC Financial Statements	35
	Piedmont Natural Gas Company, Inc. Financial Statements	39
	Combined Notes to Condensed Consolidated Financial Statements
	Note 1 – Organization and Basis of Presentation	43
	Note 2 – Business Segments	45
	Note 3 – Regulatory Matters	48
	Note 4 – Commitments and Contingencies	56
	Note 5 – Debt and Credit Facilities	60
	Note 6 – Goodwill	61
	Note 7 – Related Party Transactions	62
	Note 8 – Derivatives and Hedging	63
	Note 9 – Investments in Debt and Equity Securities	68
	Note 10 – Fair Value Measurements	72
	Note 11 – Variable Interest Entities	77
	Note 12 – Revenue	81
	Note 13 – Stockholders' Equity	87
	Note 14 – Employee Benefit Plans	88
	Note 15 – Income Taxes	89
	Note 16 – Subsequent Events	89
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	90
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	107
Item 4.	Controls and Procedures	107
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	108
Item 1A.	Risk Factors	108
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	108
Item 6.	Exhibits	109
	Signatures	112

FORWARD-LOOKING STATEMENTS

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and assumptions and can often be identified by terms and phrases that include “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “guidance,” “outlook” or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to:

◦The impact of the COVID-19 pandemic;

◦State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices;

◦The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate;

◦The ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process;

◦The costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process;

◦Costs and effects of legal and administrative proceedings, settlements, investigations and claims;

◦Industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of our service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, such as self-generation and distributed generation technologies;

◦Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs;

◦Advancements in technology;

◦Additional competition in electric and natural gas markets and continued industry consolidation;

◦The influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change;

◦Changing customer expectations and demands including heightened emphasis on environmental, social and governance concerns;

◦The ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources;

◦Operational interruptions to our natural gas distribution and transmission activities;

◦The availability of adequate interstate pipeline transportation capacity and natural gas supply;

◦The impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, operational accidents, information technology failures or other catastrophic events, such as fires, explosions, pandemic health events or other similar occurrences;

◦The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers;

◦The timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets;

◦The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions;

◦Credit ratings of the Duke Energy Registrants may be different from what is expected;

◦Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds;

◦Construction and development risks associated with the completion of the Duke Energy Registrants’ capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all;

◦Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants;

◦The ability to control operation and maintenance costs;

◦The level of creditworthiness of counterparties to transactions;

◦The ability to obtain adequate insurance at acceptable costs;

◦Employee workforce factors, including the potential inability to attract and retain key personnel;

FORWARD-LOOKING STATEMENTS

◦The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent);

◦The performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities;

◦The effect of accounting pronouncements issued periodically by accounting standard-setting bodies;

◦The impact of U.S. tax legislation to our financial condition, results of operations or cash flows and our credit ratings;

◦The impacts from potential impairments of goodwill or equity method investment carrying values;

◦The actions of activist shareholders could disrupt our operations, impact our ability to execute on our business strategy, or cause fluctuations in the trading price of our common stock; and

◦The ability to implement our business strategy, including enhancing existing technology systems.

Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

GLOSSARY OF TERMS

Glossary of Terms 

The following terms or acronyms used in this Form 10-Q are defined below:

Term or Acronym	Definition
2013 Settlement	Revised and Restated Stipulation and Settlement Agreement approved in November 2013 among Duke Energy Florida, the Florida Office of Public Counsel and other customer representatives
2017 Settlement	Second Revised and Restated Settlement Agreement in 2017 among Duke Energy Florida, the Florida Office of Public Counsel and other customer representatives, which replaces and supplants the 2013 Settlement
2021 Settlement	Settlement Agreement in 2021 among Duke Energy Florida, the Florida Office of Public Counsel, the Florida Industrial Power Users Group, White Springs Agricultural Chemicals, Inc. d/b/a PSC Phosphate and NUCOR Steel Florida, Inc.
ACP	Atlantic Coast Pipeline, LLC, a limited liability company owned by Dominion Energy, Inc. and Duke Energy
ACP pipeline	The approximately 600-mile canceled interstate natural gas pipeline
AFS	Available for Sale
AFUDC	Allowance for funds used during construction
ARO	Asset retirement obligations
Bison	Bison Insurance Company Limited
Board	Duke Energy Board of Directors
CCR	Coal Combustion Residuals
Coal Ash Act	North Carolina Coal Ash Management Act of 2014
the company	Duke Energy Corporation and its subsidiaries
COVID-19	Coronavirus Disease 2019
CRC	Cinergy Receivables Company, LLC
Crystal River Unit 3	Crystal River Unit 3 Nuclear Plant
DEFPF	Duke Energy Florida Project Finance, LLC
DEFR	Duke Energy Florida Receivables, LLC
DEPR	Duke Energy Progress Receivables, LLC
DERF	Duke Energy Receivables Finance Company, LLC
Duke Energy	Duke Energy Corporation (collectively with its subsidiaries)
Duke Energy Ohio	Duke Energy Ohio, Inc.
Duke Energy Progress	Duke Energy Progress, LLC
Duke Energy Carolinas	Duke Energy Carolinas, LLC
Duke Energy Florida	Duke Energy Florida, LLC
Duke Energy Indiana	Duke Energy Indiana, LLC
Duke Energy Kentucky	Duke Energy Kentucky, Inc.
Duke Energy Registrants	Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont
EDIT	Excess deferred income tax
Elliott	Elliott Investment Management, L.P.
EPS	Earnings Per Share
ETR	Effective tax rate
Exchange Act	Securities Exchange Act of 1934
FERC	Federal Energy Regulatory Commission
FPSC	Florida Public Service Commission
FTR	Financial transmission rights
GAAP	Generally accepted accounting principles in the U.S.

GLOSSARY OF TERMS

GAAP Reported Earnings	Net Income Available to Duke Energy Corporation Common Stockholders
GAAP Reported EPS	Basic Earnings Per Share Available to Duke Energy Corporation common stockholders
GIC	GIC Private Limited
GWh	Gigawatt-hours
IMR	Integrity Management Rider
IRS	Internal Revenue Service
Investment Trusts	NDTF investments and grantor trusts of Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana
IURC	Indiana Utility Regulatory Commission
KPSC	Kentucky Public Service Commission
LLC	Limited Liability Company
MGP	Manufactured gas plant
MW	Megawatt
MWh	Megawatt-hour
NCUC	North Carolina Utilities Commission
NDTF	Nuclear decommissioning trust funds
NPNS	Normal purchase/normal sale
OPEB	Other Post-Retirement Benefit Obligations
OVEC	Ohio Valley Electric Corporation
Piedmont	Piedmont Natural Gas Company, Inc.
PJM	Pennsylvania-New Jersey-Maryland Interconnection
PPA	Purchase Power Agreement
Progress Energy	Progress Energy, Inc.
PSCSC	Public Service Commission of South Carolina
PUCO	Public Utilities Commission of Ohio
RTO	Regional Transmission Organization
Subsidiary Registrants	Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont
the Tax Act	Tax Cuts and Jobs Act
TPUC	Tennessee Public Utility Commission
U.S.	United States
VIE	Variable Interest Entity
WACC	Weighted Average Cost of Capital

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS

DUKE ENERGY CORPORATION

Condensed Consolidated Statements of Operations

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions, except per share amounts)	2021		2020		2021		2020
Operating Revenues
Regulated electric	$	5,258	$	4,963	$	10,477	$	10,087
Regulated natural gas	302		263		1,051		901
Nonregulated electric and other	198		195		380		382
Total operating revenues	5,758		5,421		11,908		11,370
Operating Expenses
Fuel used in electric generation and purchased power	1,415		1,349		2,858		2,796
Cost of natural gas	79		59		355		258
Operation, maintenance and other	1,410		1,353		2,812		2,692
Depreciation and amortization	1,207		1,150		2,433		2,280
Property and other taxes	349		334		702		679
Impairment of assets and other charges	131		6		131		8
Total operating expenses	4,591		4,251		9,291		8,713
Gains on Sales of Other Assets and Other, net	2		7		2		8
Operating Income	1,169		1,177		2,619		2,665
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates	9		(1,968)		(8)		(1,924)
Other income and expenses, net	128		137		255		183
Total other income and expenses	137		(1,831)		247		(1,741)
Interest Expense	572		554		1,107		1,105
Income (Loss) Before Income Taxes	734		(1,208)		1,759		(181)
Income Tax Expense (Benefit)	36		(316)		120		(179)
Net Income (Loss)	698		(892)		1,639		(2)
Add: Net Loss Attributable to Noncontrolling Interests	67		90		118		138
Net Income (Loss) Attributable to Duke Energy Corporation	765		(802)		1,757		136
Less: Preferred Dividends	14		15		53		54
Net Income (Loss) Available to Duke Energy Corporation Common Stockholders	$	751	$	(817)	$	1,704	$	82
Earnings (Loss) Per Share – Basic and Diluted
Net income (loss) available to Duke Energy Corporation common stockholders
Basic and Diluted	$	0.96	$	(1.13)	$	2.21	$	0.11
Weighted Average Shares Outstanding
Basic	769		735		769		734
Diluted	769		735		769		735

See Notes to Condensed Consolidated Financial Statements

9

FINANCIAL STATEMENTS

DUKE ENERGY CORPORATION

Condensed Consolidated Statements of Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Net Income (Loss)	$	698	$	(892)	$	1,639	$	(2)
Other Comprehensive Income (Loss), net of tax(a)
Pension and OPEB adjustments	—		(1)		2		—
Net unrealized (losses) gains on cash flow hedges	(97)		5		(68)		(76)
Reclassification into earnings from cash flow hedges	4		2		7		4
Unrealized gains (losses) on available-for-sale securities	4		6		(4)		7
Other Comprehensive (Loss) Income, net of tax	(89)		12		(63)		(65)
Comprehensive Income (Loss)	609		(880)		1,576		(67)
Add: Comprehensive Loss Attributable to Noncontrolling Interests	68		88		112		150
Comprehensive Income (Loss) Attributable to Duke Energy	677		(792)		1,688		83
Less: Preferred Dividends	14		15		53		54
Comprehensive Income (Loss) Available to Duke Energy Corporation Common Stockholders	$	663	$	(807)	$	1,635	$	29

(a)Net of income tax impacts of approximately $27 million for the three months ended June 30, 2021, and $19 million and $20 million for the six months ended June 30, 2021, and 2020, respectively. All other periods presented include immaterial income tax impacts.

See Notes to Condensed Consolidated Financial Statements

10

FINANCIAL STATEMENTS

DUKE ENERGY CORPORATION

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	June 30, 2021		December 31, 2020
ASSETS
Current Assets
Cash and cash equivalents	$	367	$	259
Receivables (net of allowance for doubtful accounts of $45 at 2021 and $29 at 2020)	868		1,009
Receivables of VIEs (net of allowance for doubtful accounts of $78 at 2021 and $117 at 2020)	2,220		2,144
Inventory	3,015		3,167
Regulatory assets (includes $54 at 2021 and $53 at 2020 related to VIEs)	1,793		1,641
Other (includes $356 at 2021 and $296 at 2020 related to VIEs)	722		462
Total current assets	8,985		8,682
Property, Plant and Equipment
Cost	158,272		155,580
Accumulated depreciation and amortization	(49,752)		(48,827)
Facilities to be retired, net	121		29
Net property, plant and equipment	108,641		106,782
Other Noncurrent Assets
Goodwill	19,303		19,303
Regulatory assets (includes $914 at 2021 and $937 at 2020 related to VIEs)	12,485		12,421
Nuclear decommissioning trust funds	9,886		9,114
Operating lease right-of-use assets, net	1,495		1,524
Investments in equity method unconsolidated affiliates	938		961
Other (includes $89 at 2021 and $81 at 2020 related to VIEs)	3,652		3,601
Total other noncurrent assets	47,759		46,924
Total Assets	$	165,385	$	162,388
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	2,716	$	3,144
Notes payable and commercial paper	3,296		2,873
Taxes accrued	692		482
Interest accrued	537		537
Current maturities of long-term debt (includes $219 at 2021 and $472 at 2020 related to VIEs)	4,976		4,238
Asset retirement obligations	691		718
Regulatory liabilities	1,309		1,377
Other	1,994		2,936
Total current liabilities	16,211		16,305
Long-Term Debt (includes $3,796 at 2021 and $3,535 at 2020 related to VIEs)	57,410		55,625
Other Noncurrent Liabilities
Deferred income taxes	9,644		9,244
Asset retirement obligations	12,272		12,286
Regulatory liabilities	15,414		15,029
Operating lease liabilities	1,315		1,340
Accrued pension and other post-retirement benefit costs	995		969
Investment tax credits	770		687
Other (includes $352 at 2021 and $316 at 2020 related to VIEs)	1,809		1,719
Total other noncurrent liabilities	42,219		41,274
Commitments and Contingencies
Equity
Preferred stock, Series A, $0.001 par value, 40 million depositary shares authorized and outstanding at 2021 and 2020	973		973
Preferred stock, Series B, $0.001 par value, 1 million shares authorized and outstanding at 2021 and 2020	989		989
Common stock, $0.001 par value, 2 billion shares authorized; 769 million shares outstanding at 2021 and 2020	1		1
Additional paid-in capital	43,788		43,767
Retained earnings	2,687		2,471
Accumulated other comprehensive loss	(306)		(237)
Total Duke Energy Corporation stockholders' equity	48,132		47,964
Noncontrolling interests	1,413		1,220
Total equity	49,545		49,184
Total Liabilities and Equity	$	165,385	$	162,388

See Notes to Condensed Consolidated Financial Statements

11

FINANCIAL STATEMENTS

DUKE ENERGY CORPORATION

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
	June 30,
(in millions)	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	1,639	$	(2)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	2,753		2,651
Equity in losses of unconsolidated affiliates	8		1,924
Equity component of AFUDC	(83)		(76)
Impairment of assets and other charges	131		8
Deferred income taxes	119		105
Payments for asset retirement obligations	(263)		(287)
Provision for rate refunds	(13)		(12)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	15		(24)
Receivables	85		281
Inventory	153		(56)
Other current assets	(297)		(124)
Increase (decrease) in
Accounts payable	(297)		(638)
Taxes accrued	219		273
Other current liabilities	(326)		(344)
Other assets	77		(201)
Other liabilities	(47)		(121)
Net cash provided by operating activities	3,873		3,357
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(4,636)		(5,103)
Contributions to equity method investments	(21)		(164)
Purchases of debt and equity securities	(3,182)		(3,818)
Proceeds from sales and maturities of debt and equity securities	3,217		3,755
Disbursements to canceled equity method investments	(855)		—
Other	(137)		(141)
Net cash used in investing activities	(5,614)		(5,471)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the:
Issuance of long-term debt	4,627		3,788
Issuance of common stock	5		57
Payments for the redemption of long-term debt	(2,002)		(1,951)
Proceeds from the issuance of short-term debt with original maturities greater than 90 days	75		1,866
Payments for the redemption of short-term debt with original maturities greater than 90 days	(959)		(113)
Notes payable and commercial paper	1,299		(129)
Contributions from noncontrolling interests	318		163
Dividends paid	(1,541)		(1,391)
Other	(72)		(108)
Net cash provided by financing activities	1,750		2,182
Net increase in cash, cash equivalents and restricted cash	9		68
Cash, cash equivalents and restricted cash at beginning of period	556		573
Cash, cash equivalents and restricted cash at end of period	$	565	$	641
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$	990	$	945
Non-cash dividends	—		54

See Notes to Condensed Consolidated Financial Statements

12

FINANCIAL STATEMENTS

DUKE ENERGY CORPORATION

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Three Months Ended June 30, 2020 and 2021
											Accumulated Other Comprehensive
											(Loss) Income
													Net Unrealized				Total
											Net Gains		(Losses) Gains				Duke Energy
			Common				Additional				(Losses) on		on Available-		Pension and		Corporation
	Preferred		Stock		Common		Paid-in		Retained		Cash Flow		for-Sale-		OPEB		Stockholders'		Noncontrolling		Total
(in millions)	Stock		Shares		Stock		Capital		Earnings		Hedges		Securities		Adjustments		Equity		Interests		Equity
Balance at March 31, 2020	$	1,962	735		$	1	$	40,930	$	4,221	$	(116)	$	4	$	(81)	$	46,921	$	1,162	$	48,083
Net income (loss)	—		—		—		—		(817)		—		—		—		(817)		(90)		(907)
Other comprehensive income (loss)	—		—		—		—		—		5		6		(1)		10		2		12
Common stock issuances, including dividend reinvestment and employee benefits	—		—		—		66		—		—		—		—		66		—		66
Common stock dividends	—		—		—		—		(696)		—		—		—		(696)		—		(696)
Contribution from noncontrolling interests, net of transaction costs(a)	—		—		—		—		—		—		—		—		—		60		60
Distributions to noncontrolling interest in subsidiaries	—		—		—		—		—		—		—		—		—		(7)		(7)
Other	—		—		—		1		(1)		—		—		—		—		—		—
Balance at June 30, 2020	$	1,962	$	735	$	1	$	40,997	$	2,707	$	(111)	$	10	$	(82)	$	45,484	$	1,127	$	46,611
Balance at March 31, 2021	$	1,962	769		$	1	$	43,761	$	2,680	$	(142)	$	(2)	$	(74)	$	48,186	$	1,472	$	49,658
Net income (loss)	—		—		—		—		751		—		—		—		751		(67)		684
Other comprehensive (loss) income	—		—		—		—		—		(92)		4		—		(88)		(1)		(89)
Common stock issuances, including dividend reinvestment and employee benefits	—		—		—		26		—		—		—		—		26		—		26
Common stock dividends	—		—		—		—		(744)		—		—		—		(744)		—		(744)
Contribution from noncontrolling interests, net of transaction costs(a)	—		—		—		—		—		—		—		—		—		15		15
Distributions to noncontrolling interest in subsidiaries	—		—		—		—		—		—		—		—		—		(5)		(5)
Other	—		—		—		1		—		—		—		—		1		(1)		—
Balance at June 30, 2021	$	1,962	$	769	$	1	$	43,788	$	2,687	$	(234)	$	2	$	(74)	$	48,132	$	1,413	$	49,545

See Notes to Condensed Consolidated Financial Statements

13

FINANCIAL STATEMENTS

DUKE ENERGY CORPORATION

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Six Months Ended June 30, 2020 and 2021
										Accumulated Other Comprehensive
										(Loss) Income
												Net Unrealized				Total
										Net Gains		Gains (Losses)				Duke Energy
			Common			Additional				(Losses) on		on Available-		Pension and		Corporation
	Preferred		Stock	Common		Paid-in		Retained		Cash Flow		for-Sale-		OPEB		Stockholders'		Noncontrolling		Total
(in millions)	Stock		Shares	Stock		Capital		Earnings		Hedges		Securities		Adjustments		Equity		Interests		Equity
Balance at December 31, 2019	$	1,962	733	$	1	$	40,881	$	4,108	$	(51)	$	3	$	(82)	$	46,822	$	1,129	$	47,951
Net income (loss)	—		—	—		—		82		—		—		—		82		(138)		(56)
Other comprehensive (loss) income	—		—	—		—		—		(60)		7		—		(53)		(12)		(65)
Common stock issuances, including dividend reinvestment and employee benefits	—		2	—		116		—		—		—		—		116		—		116
Common stock dividends	—		—	—		—		(1,391)		—		—		—		(1,391)		—		(1,391)
Contributions from noncontrolling interests, net of transaction costs(a)	—		—	—		—		—		—		—		—		—		163		163
Distributions to noncontrolling interest in subsidiaries	—		—	—		—		—		—		—		—		—		(14)		(14)
Other(b)	—		—	—		—		(92)		—		—		—		(92)		(1)		(93)
Balance at June 30, 2020	$	1,962	735	$	1	$	40,997	$	2,707	$	(111)	$	10	$	(82)	$	45,484	$	1,127	$	46,611
Balance at December 31, 2020	$	1,962	769	$	1	$	43,767	$	2,471	$	(167)	$	6	$	(76)	$	47,964	$	1,220	$	49,184
Net income (loss)	—		—	—		—		1,704		—		—		—		1,704		(118)		1,586
Other comprehensive (loss) income	—		—	—		—		—		(67)		(4)		2		(69)		6		(63)
Common stock issuances, including dividend reinvestment and employee benefits	—		—	—		23		—		—		—		—		23		—		23
Common stock dividends	—		—	—		—		(1,488)		—		—		—		(1,488)		—		(1,488)
Contributions from noncontrolling interests, net of transaction costs(a)	—		—	—		(3)		—		—		—		—		(3)		318		315
Distributions to noncontrolling interest in subsidiaries	—		—	—		—		—		—		—		—		—		(12)		(12)
Other	—		—	—		1		—		—		—		—		1		(1)		—
Balance at June 30, 2021	$	1,962	769	$	1	$	43,788	$	2,687	$	(234)	$	2	$	(74)	$	48,132	$	1,413	$	49,545

(a)    Relates to tax equity financing activity in the Commercial Renewables segment.

(b)    Amounts in Retained earnings primarily represent impacts due to implementation of a new accounting standard related to Current Estimated Credit Losses. See Note 1 for additional discussion.

See Notes to Condensed Consolidated Financial Statements

14

FINANCIAL STATEMENTS

DUKE ENERGY CAROLINAS, LLC

Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Operating Revenues	$	1,610	$	1,610	$	3,326	$	3,358
Operating Expenses
Fuel used in electric generation and purchased power	344		376		766		829
Operation, maintenance and other	435		430		876		816
Depreciation and amortization	363		375		722		718
Property and other taxes	74		75		157		156
Impairment of assets and other charges	75		—		75		2
Total operating expenses	1,291		1,256		2,596		2,521
Gains (Losses) on Sales of Other Assets and Other, net	2		(1)		2		—
Operating Income	321		353		732		837
Other Income and Expenses, net	44		43		92		86
Interest Expense	139		125		263		248
Income Before Income Taxes	226		271		561		675
Income Tax Expense	1		37		24		102
Net Income and Comprehensive Income	$	225	$	234	$	537	$	573

See Notes to Condensed Consolidated Financial Statements

15

FINANCIAL STATEMENTS

DUKE ENERGY CAROLINAS, LLC

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	June 30, 2021		December 31, 2020
ASSETS
Current Assets
Cash and cash equivalents	$	36	$	21
Receivables (net of allowance for doubtful accounts of $2 at 2021 and $1 at 2020)	180		247
Receivables of VIEs (net of allowance for doubtful accounts of $40 at 2021 and $22 at 2020)	769		696
Receivables from affiliated companies	111		124
Inventory	1,013		1,010
Regulatory assets	458		473
Other	88		20
Total current assets	2,655		2,591
Property, Plant and Equipment
Cost	51,220		50,640
Accumulated depreciation and amortization	(17,709)		(17,453)
Facilities to be retired, net	93		—
Net property, plant and equipment	33,604		33,187
Other Noncurrent Assets
Regulatory assets	2,970		2,996
Nuclear decommissioning trust funds	5,446		4,977
Operating lease right-of-use assets, net	100		110
Other	1,238		1,187
Total other noncurrent assets	9,754		9,270
Total Assets	$	46,013	$	45,048
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	675	$	1,000
Accounts payable to affiliated companies	195		199
Notes payable to affiliated companies	471		506
Taxes accrued	203		76
Interest accrued	125		117
Current maturities of long-term debt	356		506
Asset retirement obligations	251		264
Regulatory liabilities	489		473
Other	425		546
Total current liabilities	3,190		3,687
Long-Term Debt	12,250		11,412
Long-Term Debt Payable to Affiliated Companies	300		300
Other Noncurrent Liabilities
Deferred income taxes	3,937		3,842
Asset retirement obligations	5,116		5,086
Regulatory liabilities	6,810		6,535
Operating lease liabilities	87		97
Accrued pension and other post-retirement benefit costs	67		73
Investment tax credits	259		236
Other	605		626
Total other noncurrent liabilities	16,881		16,495
Commitments and Contingencies
Equity
Member's equity	13,399		13,161
Accumulated other comprehensive loss	(7)		(7)
Total equity	13,392		13,154
Total Liabilities and Equity	$	46,013	$	45,048

See Notes to Condensed Consolidated Financial Statements

16

FINANCIAL STATEMENTS

DUKE ENERGY CAROLINAS, LLC

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
	June 30,
(in millions)	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	537	$	573
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel)	861		854
Equity component of AFUDC	(30)		(29)
Impairment of assets and other charges	75		2
Deferred income taxes	(41)		31
Payments for asset retirement obligations	(93)		(86)
Provision for rate refunds	(11)		2
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	4		—
Receivables	—		40
Receivables from affiliated companies	13		36
Inventory	(3)		(84)
Other current assets	(45)		170
Increase (decrease) in
Accounts payable	(266)		(249)
Accounts payable to affiliated companies	(4)		(63)
Taxes accrued	127		120
Other current liabilities	(152)		(134)
Other assets	8		(83)
Other liabilities	18		(35)
Net cash provided by operating activities	998		1,065
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,251)		(1,271)
Purchases of debt and equity securities	(1,847)		(1,017)
Proceeds from sales and maturities of debt and equity securities	1,847		1,017
Other	(80)		(73)
Net cash used in investing activities	(1,331)		(1,344)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	1,298		938
Payments for the redemption of long-term debt	(614)		(454)
Notes payable to affiliated companies	(35)		102
Distributions to parent	(300)		(300)
Other	(1)		(1)
Net cash provided by financing activities	348		285
Net increase in cash and cash equivalents	15		6
Cash and cash equivalents at beginning of period	21		18
Cash and cash equivalents at end of period	$	36	$	24
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$	315	$	256

See Notes to Condensed Consolidated Financial Statements

17

FINANCIAL STATEMENTS

DUKE ENERGY CAROLINAS, LLC

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Three Months Ended June 30, 2020 and 2021
			Accumulated Other
			Comprehensive
			Loss
	Member's		Net Losses on		Total
(in millions)	Equity		Cash Flow Hedges		Equity
Balance at March 31, 2020	$	12,844	$	(7)	$	12,837
Net income	234		—		234
Other	1		—		1
Balance at June 30, 2020	$	13,079	$	(7)	$	13,072
Balance at March 31, 2021	$	13,473	$	(7)	$	13,466
Net income	225		—		225
Distributions to parent	(300)		—		(300)
Other	1		—		1
Balance at June 30, 2021	$	13,399	$	(7)	$	13,392
	Six Months Ended June 30, 2020 and 2021
			Accumulated Other
			Comprehensive
			Loss
	Member's		Net Losses on		Total
(in millions)	Equity		Cash Flow Hedges		Equity
Balance at December 31, 2019	$	12,818	$	(7)	$	12,811
Net income	573		—		573
Distributions to parent	(300)		—		(300)
Other(a)	(12)		—		(12)
Balance at June 30, 2020	$	13,079	$	(7)	$	13,072
Balance at December 31, 2020	$	13,161	$	(7)	$	13,154
Net income	537		—		537
Distributions to parent	(300)		—		(300)
Other	1		—		1
Balance at June 30, 2021	$	13,399	$	(7)	$	13,392

(a)Amounts primarily represent impacts due to implementation of a new accounting standard related to Current Estimated Credit Losses. See Note 1 for additional discussion.

See Notes to Condensed Consolidated Financial Statements

18

FINANCIAL STATEMENTS

PROGRESS ENERGY, INC.

Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Operating Revenues	$	2,679	$	2,498	$	5,184	$	4,920
Operating Expenses
Fuel used in electric generation and purchased power	833		777		1,628		1,540
Operation, maintenance and other	626		589		1,227		1,143
Depreciation and amortization	441		432		926		884
Property and other taxes	133		137		275		272
Impairment of assets and other charges	37		—		37		—
Total operating expenses	2,070		1,935		4,093		3,839
Gains on Sales of Other Assets and Other, net	1		7		1		6
Operating Income	610		570		1,092		1,087
Other Income and Expenses, net	38		33		81		65
Interest Expense	200		199		392		405
Income Before Income Taxes	448		404		781		747
Income Tax Expense	37		60		80		120
Net Income	411		344		$	701	$	627
Net Income	$	411	$	344	$	701	$	627
Other Comprehensive Income, net of tax
Pension and OPEB adjustments	1		1		1		1
Net unrealized gains on cash flow hedges	—		1		1		2
Unrealized gains (losses) on available-for-sale securities	1		(1)		—		—
Other Comprehensive Income, net of tax	2		1		2		3
Comprehensive Income	413		345		$	703	$	630

See Notes to Condensed Consolidated Financial Statements

19

FINANCIAL STATEMENTS

PROGRESS ENERGY, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	June 30, 2021		December 31, 2020
ASSETS
Current Assets
Cash and cash equivalents	$	75	$	59
Receivables (net of allowance for doubtful accounts of $11 at 2021 and $8 at 2020)	223		228
Receivables of VIEs (net of allowance for doubtful accounts of $25 at 2021 and $29 at 2020)	924		901
Receivables from affiliated companies	69		157
Inventory	1,299		1,375
Regulatory assets (includes $54 at 2021 and $53 at 2020 related to VIEs)	909		758
Other (includes $33 at 2021 and $39 at 2020 related to VIEs)	270		109
Total current assets	3,769		3,587
Property, Plant and Equipment
Cost	59,234		57,892
Accumulated depreciation and amortization	(18,887)		(18,368)
Facilities to be retired, net	28		29
Net property, plant and equipment	40,375		39,553
Other Noncurrent Assets
Goodwill	3,655		3,655
Regulatory assets (includes $914 at 2021 and $937 at 2020 related to VIEs)	5,757		5,775
Nuclear decommissioning trust funds	4,440		4,137
Operating lease right-of-use assets, net	700		690
Other	1,115		1,227
Total other noncurrent assets	15,667		15,484
Total Assets	$	59,811	$	58,624
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	903	$	919
Accounts payable to affiliated companies	331		289
Notes payable to affiliated companies	3,003		2,969
Taxes accrued	217		121
Interest accrued	191		202
Current maturities of long-term debt (includes $55 at 2021 and $305 at 2020 related to VIEs)	2,831		1,426
Asset retirement obligations	251		283
Regulatory liabilities	558		640
Other	814		793
Total current liabilities	9,099		7,642
Long-Term Debt (includes $1,492 at 2021 and $1,252 at 2020 related to VIEs)	16,269		17,688
Long-Term Debt Payable to Affiliated Companies	150		150
Other Noncurrent Liabilities
Deferred income taxes	4,655		4,396
Asset retirement obligations	5,853		5,866
Regulatory liabilities	5,244		5,051
Operating lease liabilities	634		623
Accrued pension and other post-retirement benefit costs	496		505
Other	469		462
Total other noncurrent liabilities	17,351		16,903
Commitments and Contingencies
Equity
Common Stock, $0.01 par value, 100 shares authorized and outstanding at 2021 and 2020	—		—
Additional paid-in capital	9,143		9,143
Retained earnings	7,809		7,109
Accumulated other comprehensive loss	(13)		(15)
Total Progress Energy, Inc. stockholders' equity	16,939		16,237
Noncontrolling interests	3		4
Total equity	16,942		16,241
Total Liabilities and Equity	$	59,811	$	58,624

See Notes to Condensed Consolidated Financial Statements

20

FINANCIAL STATEMENTS

PROGRESS ENERGY, INC.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
	June 30,
(in millions)	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	701	$	627
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	1,104		1,118
Equity component of AFUDC	(23)		(24)
Impairment of assets and other charges	37		—
Deferred income taxes	163		94
Payments for asset retirement obligations	(139)		(173)
Provision for rate refunds	(7)		2
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	16		(22)
Receivables	(12)		(15)
Receivables from affiliated companies	88		34
Inventory	76		(42)
Other current assets	(247)		102
Increase (decrease) in
Accounts payable	44		(238)
Accounts payable to affiliated companies	42		(88)
Taxes accrued	97		155
Other current liabilities	(79)		(64)
Other assets	(33)		(57)
Other liabilities	(156)		(97)
Net cash provided by operating activities	1,672		1,312
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,745)		(1,812)
Purchases of debt and equity securities	(1,160)		(2,602)
Proceeds from sales and maturities of debt and equity securities	1,201		2,588
Notes receivable from affiliated companies	—		164
Other	(69)		(81)
Net cash used in investing activities	(1,773)		(1,743)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	19		514
Payments for the redemption of long-term debt	(41)		(550)
Notes payable to affiliated companies	34		552
Other	(3)		—
Net cash provided by financing activities	9		516
Net (decrease) increase in cash, cash equivalents and restricted cash	(92)		85
Cash, cash equivalents and restricted cash at beginning of period	200		126
Cash, cash equivalents and restricted cash at end of period	$	108	$	211
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$	329	$	287

See Notes to Condensed Consolidated Financial Statements

21

FINANCIAL STATEMENTS

PROGRESS ENERGY, INC.

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Three Months Ended June 30, 2020 and 2021
					Accumulated Other Comprehensive Loss
					Net Gains		Net Unrealized				Total Progress
	Additional				(Losses) on		Gains (Losses) on		Pension and		Energy, Inc.
	Paid-in		Retained		Cash Flow		Available-for-		OPEB		Stockholders'		Noncontrolling		Total
(in millions)	Capital		Earnings		Hedges		Sale Securities		Adjustments		Equity		Interests		Equity
Balance at March 31, 2020	$	9,143	$	6,747	$	(9)	$	—	$	(7)	$	15,874	$	3	$	15,877
Net income	—		344		—		—		—		344		—		344
Other comprehensive income (loss)	—		—		1		(1)		1		1		—		1
Distributions to noncontrolling interests	—		—		—		—		—		—		(1)		(1)
Other	—		(1)		—		—		—		(1)		1		—
Balance at June 30, 2020	$	9,143	$	7,090	$	(8)	$	(1)	$	(6)	$	16,218	$	3	$	16,221
Balance at March 31, 2021	$	9,143	$	7,400	$	(4)	$	(3)	$	(8)	$	16,528	$	2	$	16,530
Net income	—		411		—		—		—		411		—		411
Other comprehensive income	—		—		—		1		1		2		—		2
Other	—		(2)		—		—		—		(2)		1		(1)
Balance at June 30, 2021	$	9,143	$	7,809	$	(4)	$	(2)	$	(7)	$	16,939	$	3	$	16,942
	Six Months Ended June 30, 2020 and 2021
					Accumulated Other Comprehensive Loss
					Net Gains		Net Unrealized				Total Progress
	Additional				(Losses) on		Gains (Losses) on		Pension and		Energy, Inc.
	Paid-in		Retained		Cash Flow		Available-for-		OPEB		Stockholders'		Noncontrolling		Total
	Capital		Earnings		Hedges		Sale Securities		Adjustments		Equity		Interests		Equity
Balance at December 31, 2019	$	9,143	$	6,465	$	(10)	$	(1)	$	(7)	$	15,590	$	3	$	15,593
Net income	—		627		—		—		—		627		—		627
Other comprehensive income	—		—		2		—		1		3		—		3
Distributions to noncontrolling interests	—		—		—		—		—		—		(1)		(1)
Other	—		(2)		—		—		—		(2)		1		(1)
Balance at June 30, 2020	$	9,143	$	7,090	$	(8)	$	(1)	$	(6)	$	16,218	$	3	$	16,221
Balance at December 31, 2020	$	9,143	$	7,109	$	(5)	$	(2)	$	(8)	$	16,237	$	4	$	16,241
Net income	—		701		—		—		—		701		—		701
Other comprehensive income	—		—		1		—		1		2		—		2
Distributions to noncontrolling interests	—		—		—		—		—		—		(1)		(1)
Other	—		(1)		—		—		—		(1)		—		(1)
Balance at June 30, 2021	$	9,143	$	7,809	$	(4)	$	(2)	$	(7)	$	16,939	$	3	$	16,942

See Notes to Condensed Consolidated Financial Statements

22

FINANCIAL STATEMENTS

DUKE ENERGY PROGRESS, LLC

Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Operating Revenues	$	1,349	$	1,243	$	2,750	$	2,581
Operating Expenses
Fuel used in electric generation and purchased power	409		395		845		800
Operation, maintenance and other	367		317		724		622
Depreciation and amortization	236		257		521		544
Property and other taxes	41		44		90		91
Impairment of assets and other charges	18		—		18		—
Total operating expenses	1,071		1,013		2,198		2,057
Gains on Sales of Other Assets and Other, net	1		6		1		5
Operating Income	279		236		553		529
Other Income and Expenses, net	20		19		44		41
Interest Expense	78		68		147		137
Income Before Income Taxes	221		187		450		433
Income Tax Expense	6		26		25		68
Net Income and Comprehensive Income	$	215	$	161	$	425	$	365

See Notes to Condensed Consolidated Financial Statements

23

FINANCIAL STATEMENTS

DUKE ENERGY PROGRESS, LLC

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	June 30, 2021		December 31, 2020
ASSETS
Current Assets
Cash and cash equivalents	$	46	$	39
Receivables (net of allowance for doubtful accounts of $4 at 2021 and 2020)	129		132
Receivables of VIEs (net of allowance for doubtful accounts of $17 at 2021 and $19 at 2020)	473		500
Receivables from affiliated companies	63		50
Inventory	858		911
Regulatory assets	502		492
Other	141		60
Total current assets	2,212		2,184
Property, Plant and Equipment
Cost	36,291		35,759
Accumulated depreciation and amortization	(13,134)		(12,801)
Facilities to be retired, net	28		29
Net property, plant and equipment	23,185		22,987
Other Noncurrent Assets
Regulatory assets	4,056		3,976
Nuclear decommissioning trust funds	3,842		3,500
Operating lease right-of-use assets, net	377		346
Other	722		740
Total other noncurrent assets	8,997		8,562
Total Assets	$	34,394	$	33,733
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	416	$	454
Accounts payable to affiliated companies	214		215
Notes payable to affiliated companies	270		295
Taxes accrued	87		85
Interest accrued	90		99
Current maturities of long-term debt	1,806		603
Asset retirement obligations	250		283
Regulatory liabilities	472		530
Other	413		411
Total current liabilities	4,018		2,975
Long-Term Debt	7,321		8,505
Long-Term Debt Payable to Affiliated Companies	150		150
Other Noncurrent Liabilities
Deferred income taxes	2,455		2,298
Asset retirement obligations	5,387		5,352
Regulatory liabilities	4,578		4,394
Operating lease liabilities	354		323
Accrued pension and other post-retirement benefit costs	237		242
Investment tax credits	130		132
Other	79		102
Total other noncurrent liabilities	13,220		12,843
Commitments and Contingencies
Equity
Member's Equity	9,685		9,260
Total Liabilities and Equity	$	34,394	$	33,733

See Notes to Condensed Consolidated Financial Statements

24

FINANCIAL STATEMENTS

DUKE ENERGY PROGRESS, LLC

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
	June 30,
(in millions)	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	425	$	365
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel)	610		635
Equity component of AFUDC	(15)		(19)
Impairment of assets and other charges	18		—
Deferred income taxes	28		60
Payments for asset retirement obligations	(88)		(164)
Provision for rate refunds	(7)		2
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	9		(5)
Receivables	31		96
Receivables from affiliated companies	(13)		10
Inventory	52		(46)
Other current assets	(52)		87
Increase (decrease) in
Accounts payable	28		(260)
Accounts payable to affiliated companies	(1)		(50)
Taxes accrued	2		71
Other current liabilities	(45)		(16)
Other assets	(40)		(92)
Other liabilities	(43)		(5)
Net cash provided by operating activities	899		669
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(869)		(795)
Purchases of debt and equity securities	(926)		(569)
Proceeds from sales and maturities of debt and equity securities	915		548
Other	(2)		(21)
Net cash used in investing activities	(882)		(837)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	19		20
Payments for the redemption of long-term debt	(3)		(13)
Notes payable to affiliated companies	(25)		191
Other	(1)		(1)
Net cash (used in) provided by financing activities	(10)		197
Net increase in cash and cash equivalents	7		29
Cash and cash equivalents at beginning of period	39		22
Cash and cash equivalents at end of period	$	46	$	51
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$	97	$	95

See Notes to Condensed Consolidated Financial Statements

25

FINANCIAL STATEMENTS

DUKE ENERGY PROGRESS, LLC

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Three Months Ended
	June 30, 2020 and 2021
	Member's
(in millions)	Equity
Balance at March 31, 2020	$	9,450
Net income	161
Other	(1)
Balance at June 30, 2020	$	9,610
Balance at March 31, 2021	$	9,470
Net income	215
Balance at June 30, 2021	$	9,685
	Six Months Ended
	June 30, 2020 and 2021
	Member's
(in millions)	Equity
Balance at December 31, 2019	$	9,246
Net income	365
Other	(1)
Balance at June 30, 2020	$	9,610
Balance at December 31, 2020	$	9,260
Net income	425
Balance at June 30, 2021	$	9,685

See Notes to Condensed Consolidated Financial Statements

26

FINANCIAL STATEMENTS

DUKE ENERGY FLORIDA, LLC

Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Operating Revenues	$	1,325	$	1,250	$	2,426	$	2,330
Operating Expenses
Fuel used in electric generation and purchased power	424		382		783		740
Operation, maintenance and other	255		269		497		514
Depreciation and amortization	205		175		405		340
Property and other taxes	92		92		185		180
Impairment of assets and other charges	19		—		19		—
Total operating expenses	995		918		1,889		1,774
Operating Income	330		332		537		556
Other Income and Expenses, net	18		15		36		25
Interest Expense	80		80		160		164
Income Before Income Taxes	268		267		413		417
Income Tax Expense	51		51		79		81
Net Income	$	217	$	216	$	334	$	336
Other Comprehensive Income, net of tax
Unrealized gains (losses) on available-for-sale securities	1		(1)		—		—
Comprehensive Income	$	218	$	215	$	334	$	336

See Notes to Condensed Consolidated Financial Statements

27

FINANCIAL STATEMENTS

DUKE ENERGY FLORIDA, LLC

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	June 30, 2021		December 31, 2020
ASSETS
Current Assets
Cash and cash equivalents	$	22	$	11
Receivables (net of allowance for doubtful accounts of $8 at 2021 and $4 at 2020)	91		94
Receivables of VIEs (net of allowance for doubtful accounts of $8 at 2021 and $10 at 2020)	451		401
Receivables from affiliated companies	8		3
Inventory	440		464
Regulatory assets (includes $54 at 2021 and $53 at 2020 related to VIEs)	407		265
Other (includes $33 at 2021 and $39 at 2020 related to VIEs)	59		41
Total current assets	1,478		1,279
Property, Plant and Equipment
Cost	22,933		22,123
Accumulated depreciation and amortization	(5,746)		(5,560)
Net property, plant and equipment	17,187		16,563
Other Noncurrent Assets
Regulatory assets (includes $914 at 2021 and $937 at 2020 related to VIEs)	1,701		1,799
Nuclear decommissioning trust funds	598		637
Operating lease right-of-use assets, net	323		344
Other	342		335
Total other noncurrent assets	2,964		3,115
Total Assets	$	21,629	$	20,957
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	487	$	465
Accounts payable to affiliated companies	129		85
Notes payable to affiliated companies	363		196
Taxes accrued	144		82
Interest accrued	67		69
Current maturities of long-term debt (includes $55 at 2021 and $305 at 2020 related to VIEs)	575		823
Regulatory liabilities	85		110
Other	395		374
Total current liabilities	2,245		2,204
Long-Term Debt (includes $1,223 at 2021 and $1,002 at 2020 related to VIEs)	7,306		7,092
Other Noncurrent Liabilities
Deferred income taxes	2,286		2,191
Asset retirement obligations	467		514
Regulatory liabilities	665		658
Operating lease liabilities	280		300
Accrued pension and other post-retirement benefit costs	227		231
Other	262		209
Total other noncurrent liabilities	4,187		4,103
Commitments and Contingencies
Equity
Member's equity	7,893		7,560
Accumulated other comprehensive loss	(2)		(2)
Total equity	7,891		7,558
Total Liabilities and Equity	$	21,629	$	20,957

See Notes to Condensed Consolidated Financial Statements

28

FINANCIAL STATEMENTS

DUKE ENERGY FLORIDA, LLC

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
	June 30,
(in millions)	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	334	$	336
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	491		478
Equity component of AFUDC	(8)		(6)
Impairment of assets and other charges	19		—
Deferred income taxes	130		37
Payments for asset retirement obligations	(52)		(9)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	5		(20)
Receivables	(42)		(110)
Receivables from affiliated companies	(5)		(2)
Inventory	24		4
Other current assets	(132)		(11)
Increase (decrease) in
Accounts payable	15		23
Accounts payable to affiliated companies	44		(51)
Taxes accrued	62		134
Other current liabilities	(35)		(50)
Other assets	11		37
Other liabilities	(94)		(91)
Net cash provided by operating activities	767		699
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(876)		(1,016)
Purchases of debt and equity securities	(234)		(2,033)
Proceeds from sales and maturities of debt and equity securities	286		2,040
Notes receivable from affiliated companies	—		173
Other	(67)		(60)
Net cash used in investing activities	(891)		(896)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	—		495
Payments for the redemption of long-term debt	(38)		(537)
Notes payable to affiliated companies	167		232
Other	—		2
Net cash provided by financing activities	129		192
Net increase (decrease) in cash, cash equivalents and restricted cash	5		(5)
Cash, cash equivalents and restricted cash at beginning of period	50		56
Cash, cash equivalents and restricted cash at end of period	$	55	$	51
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$	232	$	192

See Notes to Condensed Consolidated Financial Statements

29

FINANCIAL STATEMENTS

DUKE ENERGY FLORIDA, LLC

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Three Months Ended June 30, 2020 and 2021
			Accumulated
			Other
			Comprehensive
			Income (Loss)
			Net Unrealized
			Losses on
	Member's		Available-for-Sale		Total
(in millions)	Equity		Securities		Equity
Balance at March 31, 2020	$	6,909	$	—	$	6,909
Net income	216		—		216
Other comprehensive loss	—		(1)		(1)
Balance at June 30, 2020	$	7,125	$	(1)	$	7,124
Balance at March 31, 2021	$	7,677	$	(3)	$	7,674
Net income	217		—		217
Other comprehensive income	—		1		1
Other	(1)		—		(1)
Balance at June 30, 2021	$	7,893	$	(2)	$	7,891
	Six Months Ended June 30, 2020 and 2021
			Accumulated
			Other
			Comprehensive
			Income (Loss)
			Net Unrealized
			Losses on
	Member's		Available-for-Sale		Total
(in millions)	Equity		Securities		Equity
Balance at December 31, 2019	$	6,789	$	(1)	$	6,788
Net income	336		—		336
Balance at June 30, 2020	$	7,125	$	(1)	$	7,124
Balance at December 31, 2020	$	7,560	$	(2)	$	7,558
Net income	334		—		334
Other	(1)		—		(1)
Balance at June 30, 2021	$	7,893	$	(2)	$	7,891

See Notes to Condensed Consolidated Financial Statements

30

FINANCIAL STATEMENTS

DUKE ENERGY OHIO, INC.

Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Operating Revenues
Regulated electric	$	343	$	330	$	706	$	676
Regulated natural gas	113		93		282		245
Total operating revenues	456		423		988		921
Operating Expenses
Fuel used in electric generation and purchased power	93		77		175		164
Cost of natural gas	16		6		67		43
Operation, maintenance and other	111		95		219		218
Depreciation and amortization	75		68		149		136
Property and other taxes	83		78		175		161
Impairment of assets and other charges	5		—		5		—
Total operating expenses	383		324		790		722
Operating Income	73		99		198		199
Other Income and Expenses, net	5		4		10		7
Interest Expense	28		25		53		49
Income Before Income Taxes	50		78		155		157
Income Tax Expense	11		12		25		26
Net Income and Comprehensive Income	$	39	$	66	$	130	$	131

See Notes to Condensed Consolidated Financial Statements

31

FINANCIAL STATEMENTS

DUKE ENERGY OHIO, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	June 30, 2021		December 31, 2020
ASSETS
Current Assets
Cash and cash equivalents	$	12	$	14
Receivables (net of allowance for doubtful accounts of $4 at 2021 and 2020)	96		98
Receivables from affiliated companies	83		102
Inventory	111		110
Regulatory assets	56		39
Other	26		31
Total current assets	384		394
Property, Plant and Equipment
Cost	11,351		11,022
Accumulated depreciation and amortization	(3,068)		(3,013)
Net property, plant and equipment	8,283		8,009
Other Noncurrent Assets
Goodwill	920		920
Regulatory assets	636		610
Operating lease right-of-use assets, net	20		20
Other	79		72
Total other noncurrent assets	1,655		1,622
Total Assets	$	10,322	$	10,025
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	255	$	279
Accounts payable to affiliated companies	72		68
Notes payable to affiliated companies	390		169
Taxes accrued	189		247
Interest accrued	31		31
Current maturities of long-term debt	50		50
Asset retirement obligations	12		3
Regulatory liabilities	65		65
Other	70		70
Total current liabilities	1,134		982
Long-Term Debt	3,016		3,014
Long-Term Debt Payable to Affiliated Companies	25		25
Other Noncurrent Liabilities
Deferred income taxes	1,014		981
Asset retirement obligations	99		108
Regulatory liabilities	741		748
Operating lease liabilities	19		20
Accrued pension and other post-retirement benefit costs	113		113
Other	96		99
Total other noncurrent liabilities	2,082		2,069
Commitments and Contingencies
Equity
Common Stock, $8.50 par value, 120 million shares authorized; 90 million shares outstanding at 2021 and 2020	762		762
Additional paid-in capital	2,776		2,776
Retained earnings	527		397
Total equity	4,065		3,935
Total Liabilities and Equity	$	10,322	$	10,025

See Notes to Condensed Consolidated Financial Statements

32

FINANCIAL STATEMENTS

DUKE ENERGY OHIO, INC.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
	June 30,
(in millions)	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	130	$	131
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	151		138
Equity component of AFUDC	(4)		(2)
Impairment of assets and other charges	5		—
Deferred income taxes	17		24
Payments for asset retirement obligations	(1)		—
Provision for rate refunds	8		6
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	(1)		—
Receivables	2		2
Receivables from affiliated companies	(11)		45
Inventory	(1)		6
Other current assets	(12)		8
Increase (decrease) in
Accounts payable	(8)		(22)
Accounts payable to affiliated companies	4		(10)
Taxes accrued	(58)		(9)
Other current liabilities	(7)		2
Other assets	(33)		(24)
Other liabilities	4		(3)
Net cash provided by operating activities	185		292
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(415)		(403)
Notes receivable from affiliated companies	30		(35)
Other	(23)		(27)
Net cash used in investing activities	(408)		(465)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	—		397
Payments for the redemption of long-term debt	—		(233)
Notes payable to affiliated companies	221		—
Net cash provided by financing activities	221		164
Net decrease in cash and cash equivalents	(2)		(9)
Cash and cash equivalents at beginning of period	14		17
Cash and cash equivalents at end of period	$	12	$	8
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$	88	$	94

See Notes to Condensed Consolidated Financial Statements

33

FINANCIAL STATEMENTS

DUKE ENERGY OHIO, INC.

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Three Months Ended June 30, 2020 and 2021
			Additional
	Common		Paid-in		Retained		Total
(in millions)	Stock		Capital		Earnings		Equity
Balance at March 31, 2020	$	762	$	2,776	$	210	$	3,748
Net income	—		—		66		66
Balance at June 30, 2020	$	762	$	2,776	$	276	$	3,814
Balance at March 31, 2021	$	762	$	2,776	$	488	$	4,026
Net income	—		—		39		39
Balance at June 30, 2021	$	762	$	2,776	$	527	$	4,065
	Six Months Ended June 30, 2020 and 2021
			Additional
	Common		Paid-in		Retained		Total
(in millions)	Stock		Capital		Earnings		Equity
Balance at December 31, 2019	$	762	$	2,776	$	145	$	3,683
Net income	—		—		131		131
Balance at June 30, 2020	$	762	$	2,776	$	276	$	3,814
Balance at December 31, 2020	$	762	$	2,776	$	397	$	3,935
Net income	—		—		130		130
Balance at June 30, 2021	$	762	$	2,776	$	527	$	4,065

See Notes to Condensed Consolidated Financial Statements

34

FINANCIAL STATEMENTS

DUKE ENERGY INDIANA, LLC

Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Operating Revenues	$	735	$	617	$	1,480	$	1,309
Operating Expenses
Fuel used in electric generation and purchased power	201		161		418		355
Operation, maintenance and other	192		171		370		357
Depreciation and amortization	152		134		304		266
Property and other taxes	20		20		41		42
Impairment of assets and other charges	8		—		8		—
Total operating expenses	573		486		1,141		1,020
Losses on Sales of Other Assets and Other, net	(1)		—		(1)		—
Operating Income	161		131		338		289
Other Income and Expenses, net	10		9		19		19
Interest Expense	49		42		99		85
Income Before Income Taxes	122		98		258		223
Income Tax Expense	19		17		43		43
Net Income and Comprehensive Income	$	103	$	81	$	215	$	180

See Notes to Condensed Consolidated Financial Statements

35

FINANCIAL STATEMENTS

DUKE ENERGY INDIANA, LLC

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	June 30, 2021		December 31, 2020
ASSETS
Current Assets
Cash and cash equivalents	$	12	$	7
Receivables (net of allowance for doubtful accounts of $3 at 2021 and 2020)	69		55
Receivables from affiliated companies	95		112
Notes receivable from affiliated companies	18		—
Inventory	412		473
Regulatory assets	173		125
Other	46		37
Total current assets	825		809
Property, Plant and Equipment
Cost	17,213		17,382
Accumulated depreciation and amortization	(5,514)		(5,661)
Net property, plant and equipment	11,699		11,721
Other Noncurrent Assets
Regulatory assets	1,310		1,203
Operating lease right-of-use assets, net	53		55
Other	268		253
Total other noncurrent assets	1,631		1,511
Total Assets	$	14,155	$	14,041
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	209	$	188
Accounts payable to affiliated companies	59		88
Notes payable to affiliated companies	—		131
Taxes accrued	64		62
Interest accrued	52		51
Current maturities of long-term debt	123		70
Asset retirement obligations	176		168
Regulatory liabilities	141		111
Other	104		83
Total current liabilities	928		952
Long-Term Debt	3,819		3,871
Long-Term Debt Payable to Affiliated Companies	150		150
Other Noncurrent Liabilities
Deferred income taxes	1,262		1,228
Asset retirement obligations	980		1,008
Regulatory liabilities	1,593		1,627
Operating lease liabilities	52		53
Accrued pension and other post-retirement benefit costs	172		171
Investment tax credits	168		168
Other	32		30
Total other noncurrent liabilities	4,259		4,285
Commitments and Contingencies
Equity
Member's Equity	4,999		4,783
Total Liabilities and Equity	$	14,155	$	14,041

See Notes to Condensed Consolidated Financial Statements

36

FINANCIAL STATEMENTS

DUKE ENERGY INDIANA, LLC

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
	June 30,
(in millions)	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	215	$	180
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	306		267
Equity component of AFUDC	(12)		(12)
Impairment of assets and other charges	8		—
Deferred income taxes	1		38
Payments for asset retirement obligations	(30)		(28)
(Increase) decrease in
Receivables	(15)		19
Receivables from affiliated companies	(8)		20
Inventory	61		28
Other current assets	(31)		13
Increase (decrease) in
Accounts payable	35		22
Accounts payable to affiliated companies	(29)		(13)
Taxes accrued	10		4
Other current liabilities	20		(22)
Other assets	(3)		(29)
Other liabilities	6		(6)
Net cash provided by operating activities	534		481
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(394)		(456)
Purchases of debt and equity securities	(9)		(14)
Proceeds from sales and maturities of debt and equity securities	6		7
Notes receivable from affiliated companies	7		(425)
Other	(8)		(16)
Net cash used in investing activities	(398)		(904)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	—		544
Notes payable to affiliated companies	(131)		(30)
Distributions to parent	—		(100)
Net cash (used in) provided by financing activities	(131)		414
Net increase (decrease) in cash and cash equivalents	5		(9)
Cash and cash equivalents at beginning of period	7		25
Cash and cash equivalents at end of period	$	12	$	16
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$	85	$	83

See Notes to Condensed Consolidated Financial Statements

37

FINANCIAL STATEMENTS

DUKE ENERGY INDIANA, LLC

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Three Months Ended
	June 30, 2020 and 2021
	Member's
(in millions)	Equity
Balance at March 31, 2020	$	4,674
Net income	81
Distributions to parent	(100)
Balance at June 30, 2020	$	4,655
Balance at March 31, 2021	$	4,896
Net income	103
Balance at June 30, 2021	$	4,999
	Six Months Ended
	June 30, 2020 and 2021
	Member's
(in millions)	Equity
Balance at December 31, 2019	$	4,575
Net income	180
Distributions to parent	(100)
Balance at June 30, 2020	$	4,655
Balance at December 31, 2020	$	4,783
Net income	215
Other	1
Balance at June 30, 2021	$	4,999

See Notes to Condensed Consolidated Financial Statements

38

FINANCIAL STATEMENTS

PIEDMONT NATURAL GAS COMPANY, INC.

Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Operating Revenues	$	215	$	197	$	821	$	709
Operating Expenses
Cost of natural gas	63		53		288		215
Operation, maintenance and other	76		79		154		159
Depreciation and amortization	51		43		99		88
Property and other taxes	14		12		28		24
Impairment of assets and other charges	5		—		5		—
Total operating expenses	209		187		574		486
Operating Income	6		10		247		223
Other Income and Expenses, net	18		16		35		28
Interest Expense	30		33		59		60
(Loss) Income Before Income Taxes	(6)		(7)		223		191
Income Tax (Benefit) Expense	(2)		(9)		24		11
Net (Loss) Income and Comprehensive (Loss) Income	$	(4)	$	2	$	199	$	180

See Notes to Condensed Consolidated Financial Statements

39

FINANCIAL STATEMENTS

PIEDMONT NATURAL GAS COMPANY, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

(in millions)	June 30, 2021		December 31, 2020
ASSETS
Current Assets
Receivables (net of allowance for doubtful accounts of $13 at 2021 and $12 at 2020)	106		250
Receivables from affiliated companies	10		10
Inventory	43		68
Regulatory assets	108		153
Other	48		20
Total current assets	315		501
Property, Plant and Equipment
Cost	9,556		9,134
Accumulated depreciation and amortization	(1,838)		(1,749)
Net property, plant and equipment	7,718		7,385
Other Noncurrent Assets
Goodwill	49		49
Regulatory assets	337		302
Operating lease right-of-use assets, net	18		20
Investments in equity method unconsolidated affiliates	89		88
Other	277		270
Total other noncurrent assets	770		729
Total Assets	$	8,803	$	8,615
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	165	$	230
Accounts payable to affiliated companies	44		79
Notes payable to affiliated companies	93		530
Taxes accrued	27		23
Interest accrued	36		34
Current maturities of long-term debt	—		160
Regulatory liabilities	57		88
Other	80		69
Total current liabilities	502		1,213
Long-Term Debt	2,967		2,620
Other Noncurrent Liabilities
Deferred income taxes	861		821
Asset retirement obligations	20		20
Regulatory liabilities	1,007		1,044
Operating lease liabilities	16		19
Accrued pension and other post-retirement benefit costs	6		8
Other	185		155
Total other noncurrent liabilities	2,095		2,067
Commitments and Contingencies
Equity
Common stock, no par value: 100 shares authorized and outstanding at 2021 and 2020	1,635		1,310
Retained earnings	1,604		1,405
Total equity	3,239		2,715
Total Liabilities and Equity	$	8,803	$	8,615

See Notes to Condensed Consolidated Financial Statements

40

FINANCIAL STATEMENTS

PIEDMONT NATURAL GAS COMPANY, INC.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Six Months Ended
	June 30,
(in millions)	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	199	$	180
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	101		89
Equity component of AFUDC	(14)		(9)
Impairment of assets and other charges	5		—
Deferred income taxes	3		17
Equity in earnings from unconsolidated affiliates	(4)		(4)
Provision for rate refunds	(3)		(24)
(Increase) decrease in
Receivables	137		154
Receivables from affiliated companies	—		(4)
Inventory	26		42
Other current assets	30		(69)
Increase (decrease) in
Accounts payable	(70)		(68)
Accounts payable to affiliated companies	(35)		33
Taxes accrued	3		5
Other current liabilities	(30)		(4)
Other assets	6		(13)
Other liabilities	(2)		7
Net cash provided by operating activities	352		332
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(411)		(438)
Return of investment capital	1		1
Other	(17)		(12)
Net cash used in investing activities	(427)		(449)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	347		394
Payments for the redemption of long-term debt	(160)		—
Notes payable to affiliated companies	(437)		(277)
Capital contributions from parent	325		—
Net cash provided by financing activities	75		117
Net increase in cash and cash equivalents	—		—
Cash and cash equivalents at beginning of period	—		—
Cash and cash equivalents at end of period	$	—	$	—
Supplemental Disclosures:
Significant non-cash transactions:
Accrued capital expenditures	$	111	$	98

See Notes to Condensed Consolidated Financial Statements

41

FINANCIAL STATEMENTS

PIEDMONT NATURAL GAS COMPANY, INC.

Condensed Consolidated Statements of Changes in Equity

(Unaudited)

	Three Months Ended June 30, 2020 and 2021
	Common		Retained		Total
(in millions)	Stock		Earnings		Equity
Balance at March 31, 2020	$	1,310	$	1,310	$	2,620
Net income	—		2		2
Balance at June 30, 2020	$	1,310	$	1,312	$	2,622
Balance at March 31, 2021	$	1,635	$	1,608	$	3,243
Net loss	—		(4)		(4)
Balance at June 30, 2021	$	1,635	$	1,604	$	3,239
	Six Months Ended June 30, 2020 and 2021
	Common		Retained		Total
(in millions)	Stock		Earnings		Equity
Balance at December 31, 2019	$	1,310	$	1,133	$	2,443
Net income	—		180		180
Other	—		(1)		(1)
Balance at June 30, 2020	$	1,310	$	1,312	$	2,622
Balance at December 31, 2020	$	1,310	$	1,405	$	2,715
Net income	—		199		199
Contribution from parent	325		—		325
Balance at June 30, 2021	$	1,635	$	1,604	$	3,239

See Notes to Condensed Consolidated Financial Statements

42

FINANCIAL STATEMENTS ORGANIZATION AND BASIS OF PRESENTATION

Index to Combined Notes to Condensed Consolidated Financial Statements

The unaudited notes to the Condensed Consolidated Financial Statements that follow are a combined presentation. The following list indicates the registrants to which the footnotes apply.

Applicable Notes

Registrant

1

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3

4

5

6

7

8

9

10

11

12

13

14

15

16

Duke Energy

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Duke Energy Carolinas

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Progress Energy

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Duke Energy Progress

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Duke Energy Florida

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Duke Energy Ohio

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Duke Energy Indiana

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Piedmont

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Tables within the notes may not sum across due to (i) Progress Energy's consolidation of Duke Energy Progress, Duke Energy Florida and other subsidiaries that are not registrants and (ii) subsidiaries that are not registrants but included in the consolidated Duke Energy balances.

1. ORGANIZATION AND BASIS OF PRESENTATION

BASIS OF PRESENTATION

These Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these Condensed Consolidated Financial Statements do not include all information and notes required by GAAP for annual financial statements and should be read in conjunction with the Consolidated Financial Statements in the Duke Energy Registrants’ combined Annual Report on Form 10-K for the year ended December 31, 2020.

The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Condensed Consolidated Financial Statements. However, none of the registrants make any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself.

These Condensed Consolidated Financial Statements, in the opinion of the respective companies’ management, reflect all normal recurring adjustments necessary to fairly present the financial position and results of operations of each of the Duke Energy Registrants. Amounts reported in Duke Energy’s interim Condensed Consolidated Statements of Operations and each of the Subsidiary Registrants’ interim Condensed Consolidated Statements of Operations and Comprehensive Income are not necessarily indicative of amounts expected for the respective annual periods due to effects of seasonal temperature variations on energy consumption, regulatory rulings, timing of maintenance on electric generating units, changes in mark-to-market valuations, changing commodity prices and other factors.

In preparing financial statements that conform to GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

BASIS OF CONSOLIDATION

These Condensed Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 11 for additional information on VIEs. These Condensed Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities.

OTHER CURRENT LIABILITIES

Included in Other within Current Liabilities on the Duke Energy Condensed Consolidated Balance Sheet is a current liability of $41 million and $936 million as of June 30, 2021, and December 31, 2020, respectively. The current liability, initially recorded in 2020, primarily represented Duke Energy's share of ACP's obligations of outstanding debt and to satisfy ARO requirements to restore construction sites. See Notes 3 and 11 for further information.

NONCONTROLLING INTEREST

Duke Energy maintains a controlling financial interest in certain less than wholly owned nonregulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Condensed Consolidated Balance Sheet.

Several operating agreements of Duke Energy's subsidiaries with noncontrolling interest are subject to allocations of earnings, tax attributes and cash flows in accordance with contractual agreements that vary throughout the lives of the subsidiaries. Therefore, Duke Energy and the other investors' (the owners) interests in the subsidiaries are not fixed, and the subsidiaries apply the Hypothetical Liquidation at Book Value (HLBV) method in allocating income or loss and other comprehensive income or loss (all measured on a pretax basis) to the owners. The HLBV method measures the amounts that each owner would hypothetically claim at each balance sheet reporting date, including tax benefits realized by the owners over the IRS recapture period, upon a hypothetical liquidation of the subsidiary at the net book value of its underlying assets. The change in the amount that each owner would hypothetically receive at the reporting date compared to the amount it would have received on the previous reporting date represents the amount of income or loss allocated to each owner for the reporting period.

43

FINANCIAL STATEMENTS ORGANIZATION AND BASIS OF PRESENTATION

Other operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares.

The following table presents cash received for the sale of noncontrolling interest and allocated losses to noncontrolling interest for the three and six months ended June 30, 2021, and 2020.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Noncontrolling Interest Capital Contributions
Cash received for the sale of noncontrolling interest to tax equity members	$	15	$	60	$	318	$	163
Noncontrolling Interest Allocation of Income
Allocated losses to noncontrolling tax equity members utilizing the HLBV method	55		79		98		128
Allocated losses to noncontrolling members based on pro rata shares of ownership	12		11		20		10
Total Noncontrolling Interest Allocated Losses	$	67	$	90	$	118	$	138

CASH, CASH EQUIVALENTS AND RESTRICTED CASH

Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Notes 9 and 11 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included in the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
					Duke						Duke
	Duke		Progress		Energy		Duke		Progress		Energy
	Energy		Energy		Florida		Energy		Energy		Florida
Current Assets
Cash and cash equivalents	$	367	$	75	$	22	$	259	$	59	$	11
Other	197		33		33		194		39		39
Other Noncurrent Assets
Other	1		—		—		103		102		—
Total cash, cash equivalents and restricted cash	$	565	$	108	$	55	$	556	$	200	$	50

INVENTORY

Provisions for inventory write-offs were not material at June 30, 2021, and December 31, 2020. The components of inventory are presented in the tables below.

	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Materials and supplies	$	2,368	$	820	$	1,014	$	680	$	334	$	82	$	305	$	11
Coal	397		158		123		78		44		10		106		—
Natural gas, oil and other fuel	250		35		162		100		62		19		1		32
Total inventory	$	3,015	$	1,013	$	1,299	$	858	$	440	$	111	$	412	$	43

	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Materials and supplies	$	2,312	$	785	$	999	$	673	$	325	$	78	$	307	$	12
Coal	561		186		193		131		63		16		165		—
Natural gas, oil and other fuel	294		39		183		107		76		16		1		56
Total inventory	$	3,167	$	1,010	$	1,375	$	911	$	464	$	110	$	473	$	68

44

FINANCIAL STATEMENTS ORGANIZATION AND BASIS OF PRESENTATION

PROPERTY, PLANT & EQUIPMENT AND LEASES

Duke Energy continues to execute on its business transformation strategy, including the evaluation of in-office work policies considering the experience with the COVID-19 pandemic and also workforce realignment of roles and responsibilities. In May 2021, Duke Energy management approved the sale of certain properties and entered into an agreement to exit certain leased space on December 31, 2021. The sale of the properties is subject to abandonment accounting and resulted in an impairment charge. Additionally, the exit of the leased space resulted in the impairment of related furniture, fixtures and equipment. The total 2021 charges related to the reduction in physical workspace, including these impairments, are expected to be approximately $200 million. During the three months ended June 30, 2021, Duke Energy recorded a pretax charge to earnings of $175 million on the Condensed Consolidated Statements of Operations, which includes $131 million within Impairment of assets and other charges, $27 million within Operations, maintenance and other and $17 million within Depreciation and amortization.

NEW ACCOUNTING STANDARDS

The following new accounting standard was adopted by the Duke Energy Registrants in 2021.

Leases with Variable Lease Payments. In July 2021, the Financial Accounting Standards Board (FASB) issued new accounting guidance requiring lessors to classify a lease with variable lease payments that do not depend on a reference index or rate as an operating lease if both of the following are met: (1) the lease would have to be classified as a sales-type or direct financing lease under prior guidance, and (2) the lessor would have recognized a day-one loss. Duke Energy elected to adopt the guidance immediately upon issuance of the new standard and will be applying the new standard prospectively to new lease arrangements meeting the criteria. Duke Energy does not currently have any lease arrangements that this new accounting guidance will materially impact.

The following accounting standard was adopted by the Duke Energy Registrants in 2020.

Current Expected Credit Losses. In June 2016, the FASB issued new accounting guidance for credit losses. Duke Energy adopted the new accounting guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year results. Duke Energy did not adopt any practical expedients.

Duke Energy recognizes allowances for credit losses based on management's estimate of losses expected to be incurred over the lives of certain assets or guarantees. Management monitors credit quality, changes in expected credit losses and the appropriateness of the allowance for credit losses on a forward-looking basis. Management reviews the risk of loss periodically as part of the existing assessment of collectability of receivables.

Duke Energy reviews the credit quality of its counterparties as part of its regular risk management process and requires credit enhancements, such as deposits or letters of credit, as appropriate and as allowed by regulators.

Duke Energy recorded cumulative effects of changes in accounting principles related to the adoption of the new credit loss standard for allowances for credit losses of trade and other receivables, insurance receivables and financial guarantees. These amounts are included in the Condensed Consolidated Balance Sheets in Receivables, Receivables of VIEs, Other Noncurrent Assets and Other Noncurrent Liabilities. See Notes 4 and 12 for more information.

Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below:

	January 1, 2020
			Duke				Duke		Duke
	Duke		Energy		Progress		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Piedmont
Total pretax impact to Retained Earnings	$	120	$	16	$	2	$	1	$	1	$	1

The following new accounting standard has been issued but not yet adopted by the Duke Energy Registrants as of June 30, 2021.

Reference Rate Reform. In March 2020, the FASB issued new accounting guidance for reference rate reform. This guidance is elective and provides expedients to facilitate financial reporting for the anticipated transition away from the London Inter-bank Offered Rate (LIBOR) and other interbank reference rates by the end of 2022. The optional expedients are effective for modification of existing contracts or new arrangements executed between March 12, 2020, through December 31, 2022.

Duke Energy has variable-rate debt and manages interest rate risk by entering into financial contracts including interest rate swaps that are generally indexed to LIBOR. Impacted financial arrangements extending beyond 2022 may require contractual amendment or termination to fully adapt to a post-LIBOR environment. Duke Energy is assessing these financial arrangements and is evaluating the use of optional expedients outlined in the new accounting guidance. Alternative index provisions are also being assessed and incorporated into new financial arrangements that extend beyond 2022. The full outcome of the transition away from LIBOR cannot be determined at this time, but is not expected to have a material impact on the financial statements.

2. BUSINESS SEGMENTS

Duke Energy

Duke Energy's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. The Gas Utilities and Infrastructure segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky and Duke Energy's natural gas storage, midstream pipeline and renewable natural gas investments.

45

FINANCIAL STATEMENTS BUSINESS SEGMENTS

The Commercial Renewables segment is primarily comprised of nonregulated utility-scale wind and solar generation assets located throughout the U.S. In 2021, Duke Energy continues to monitor recoverability of its renewable merchant plants located in the Electric Reliability Council of Texas West market and in the PJM West market due to declining market pricing and declining long-term forecasted energy prices. The assets were not impaired as of June 30, 2021, because the carrying value of approximately $208 million continues to approximate the aggregate estimated future undiscounted cash flows. Duke Energy has a 50% ownership interest in these assets. A continued decline in energy market pricing would likely result in a future impairment.

The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs, Duke Energy’s wholly owned captive insurance company, Bison, and Duke Energy's ownership interest in National Methanol Company.

Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.

	Three Months Ended June 30, 2021
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	5,328	$	305	$	119	$	5,752	$	6	$	—	$	5,758
Intersegment revenues	7		22		—		29		21		(50)		—
Total revenues	$	5,335	$	327	$	119	$	5,781	$	27	$	(50)	$	5,758
Segment income (loss)(a)	$	935	$	17	$	47	$	999	$	(248)	$	—	$	751
Less: Noncontrolling interests													67
Add: Preferred stock dividend													14
Net Income													$	698
Segment assets	$	140,591	$	14,321	$	6,956	$	161,868	$	3,524	$	(7)	$	165,385

	Three Months Ended June 30, 2020
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	5,026	$	265	$	123	$	5,414	$	7	$	—	$	5,421
Intersegment revenues	8		24		—		32		19		(51)		—
Total revenues	$	5,034	$	289	$	123	$	5,446	$	26	$	(51)	$	5,421
Segment income (loss)(b)	$	753	$	(1,576)	$	90	$	(733)	$	(84)	$	—	$	(817)
Less: Noncontrolling interests													90
Add: Preferred stock dividend													15
Net Income													$	(892)

(a)    Gas Utilities and Infrastructure includes $16 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Other includes $131 million recorded within Impairment of assets and other charges, $27 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Condensed Consolidated Statements of Operations, related to the workplace and workforce realignment. See Note 1 for additional information.

(b)    Gas Utilities and Infrastructure includes $2 billion recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information.

	Six Months Ended June 30, 2021
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	10,601	$	1,057	$	238	$	11,896	$	12	$	—	$	11,908
Intersegment revenues	15		45		—		60		41		(101)		—
Total revenues	$	10,616	$	1,102	$	238	$	11,956	$	53	$	(101)	$	11,908
Segment income (loss)(a)	$	1,755	$	262	$	74	$	2,091	$	(387)	$	—	$	1,704
Less: Noncontrolling interests													118
Add: Preferred stock dividend													53
Net Income													$	1,639

46

FINANCIAL STATEMENTS BUSINESS SEGMENTS

	Six Months Ended June 30, 2020
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	10,200	$	905	$	252	$	11,357	$	13	$	—	$	11,370
Intersegment revenues	17		48		—		65		36		(101)		—
Total revenues	$	10,217	$	953	$	252	$	11,422	$	49	$	(101)	$	11,370
Segment income (loss)(b)	$	1,458	$	(1,327)	$	147	$	278	$	(196)	$	—	$	82
Less: Noncontrolling interests													138
Add: Preferred stock dividend													54
Net Income													$	(2)

(a)    Gas Utilities and Infrastructure includes $22 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Commercial Renewables includes a $35 million loss related to Texas Storm Uri, of which ($8 million) is recorded within Nonregulated electric and other revenues, $2 million within Operations, maintenance and other, $29 million within Equity in earnings (losses) of unconsolidated affiliates and $12 million within Loss Attributable to Noncontrolling Interests on the Condensed Consolidated Statements of Operations. See Note 4 for additional information. Other includes $131 million recorded within Impairment of assets and other charges, $27 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Condensed Consolidated Statements of Operations, related to the workplace and workplace realignment. See Note 1 for additional information.

(b)    Gas Utilities and Infrastructure includes $2 billion recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Other includes a $98 million reversal, included in Operations, maintenance and other on the Condensed Consolidated Statements of Operations, of 2018 severance costs due to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case. See Note 3 for additional information.

Duke Energy Ohio

Duke Energy Ohio has two reportable segments, Electric Utilities and Infrastructure and Gas Utilities and Infrastructure. The remainder of Duke Energy Ohio's operations is presented as Other.

	Three Months Ended June 30, 2021
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Eliminations		Total
Total revenues	$	343	$	113	$	456	$	—	$	—	$	456
Segment income/Net income	$	24	$	23	$	47	$	(8)	$	—	$	39
Segment assets	$	6,645	$	3,668	$	10,313	$	28	$	(19)	$	10,322

	Three Months Ended June 30, 2020
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	330	$	93	$	423	$	—	$	423
Segment income/Net income	$	44	$	23	$	67	$	(1)	$	66

	Six Months Ended June 30, 2021
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	706	$	282	$	988	$	—	$	988
Segment income/Net (loss) income	$	74	$	66	$	140	$	(10)	$	130

	Six Months Ended June 30, 2020
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	676	$	245	$	921	$	—	$	921
Segment income/Net (loss) income	$	74	$	59	$	133	$	(2)	$	131

47

FINANCIAL STATEMENTS REGULATORY MATTERS

3. REGULATORY MATTERS

RATE-RELATED INFORMATION

The NCUC, PSCSC, FPSC, IURC, PUCO, TPUC and KPSC approve rates for retail electric and natural gas services within their states. The FERC approves rates for electric sales to wholesale customers served under cost-based rates (excluding Ohio and Indiana), as well as sales of transmission service. The FERC also regulates certification and siting of new interstate natural gas pipeline projects.

Duke Energy Carolinas and Duke Energy Progress

2021 Coal Ash Settlement

On January 22, 2021, Duke Energy Carolinas and Duke Energy Progress entered into the Coal Combustion Residuals Settlement Agreement (the “CCR Settlement Agreement”) with the North Carolina Public Staff (Public Staff), the North Carolina Attorney General’s Office and the Sierra Club (collectively, the "Settling Parties"), which was filed with the NCUC on January 25, 2021. The CCR Settlement Agreement resolves all coal ash prudence and cost recovery issues in connection with 2019 rate cases filed by Duke Energy Carolinas and Duke Energy Progress with the NCUC, as well as the equitable sharing issue on remand from the 2017 Duke Energy Carolinas and Duke Energy Progress North Carolina rate cases as a result of the December 11, 2020 North Carolina Supreme Court opinion. The settlement also provides clarity on coal ash cost recovery in North Carolina for Duke Energy Carolinas and Duke Energy Progress through January 2030 and February 2030 (the "Term"), respectively.

Duke Energy Carolinas and Duke Energy Progress agreed not to seek recovery of approximately $1 billion of systemwide deferred coal ash expenditures, but will retain the ability to earn a debt and equity return during the amortization period, which shall be five years under the 2019 North Carolina rate cases and will be set by the NCUC in future rate case proceedings. The equity return and the amortization period on deferred coal ash costs under the 2017 Duke Energy Carolinas and Duke Energy Progress North Carolina rate cases will remain unaffected. The equity return on deferred coal ash costs under the 2019 North Carolina rate cases and future rate cases in North Carolina will be set at 150 basis points lower than the authorized return on equity (ROE) then in effect, with a capital structure composed of 48% debt and 52% equity. Duke Energy Carolinas and Duke Energy Progress retain the ability to earn a full WACC return during the deferral period, which is the period from when costs are incurred until they are recovered in rates.

The Settling Parties agreed that execution by Duke Energy Carolinas and Duke Energy Progress of a settlement agreement between themselves and the NCDEQ dated December 31, 2019, (the “DEQ Settlement”) and the coal ash management plans included therein or subsequently approved by DEQ are reasonable and prudent. The Settling Parties retain the right to challenge the reasonableness and prudence of actions taken by Duke Energy Carolinas and Duke Energy Progress and costs incurred to implement the scope of work agreed upon in the DEQ Settlement, after February 1, 2020, and March 1, 2020, for Duke Energy Carolinas and Duke Energy Progress, respectively. The Settling Parties further agreed to waive rights through the Term to challenge the reasonableness or prudence of Duke Energy Carolinas’ and Duke Energy Progress’ historical coal ash management practices, and to waive the right to assert any arguments that future coal ash costs, including financing costs, shall be shared between either company and customers through equitable sharing or any other rate base or return adjustment that shares the revenue requirement burden of coal ash costs not otherwise disallowed due to imprudence.

The Settling Parties agreed to a sharing arrangement for future coal ash insurance litigation proceeds between Duke Energy Carolinas and Duke Energy Progress and North Carolina customers, if achieved.

As a result of the CCR Settlement Agreement, Duke Energy Carolinas and Duke Energy Progress recorded a pretax charge of approximately $454 million and $494 million, respectively, in the fourth quarter of 2020 to Impairment charges and a reversal of approximately $50 million and $102 million, respectively, to Regulated electric operating revenues on the respective Consolidated Statements of Operations.

The Coal Ash Settlement was approved without modification in the NCUC Orders in the 2019 rate cases on March 31, 2021, and April 16, 2021, for Duke Energy Carolinas and Duke Energy Progress, respectively. The NCUC issued an Order on Remand Accepting CCR Settlement and Affirming Previous Orders Setting Rates and Imposing Penalties in the 2017 rate cases on June 25, 2021.

2020 North Carolina Storm Securitization Filings

On October 26, 2020, Duke Energy Carolinas and Duke Energy Progress filed a joint petition with the NCUC, as agreed to in partial settlements reached in the 2019 North Carolina Rate Cases for Duke Energy Carolinas and Duke Energy Progress, seeking authorization for the financing of the costs of each utility's storm recovery activities required as a result of Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego. Specifically, Duke Energy Carolinas and Duke Energy Progress requested that the NCUC find that their storm recovery costs and related financing costs are appropriately financed by debt secured by storm recovery property, and that the commission issue financing orders by which each utility may accomplish such financing using a securitization structure. On January 27, 2021, Duke Energy Carolinas, Duke Energy Progress and the Public Staff filed an Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain accounting issues, including agreement to support an 18- to 20-year bond period. The total revenue requirement over a proposed 20-year bond period for the storm recovery charges is approximately $287 million for Duke Energy Carolinas and $920 million for Duke Energy Progress and will be finalized upon issuance of the bonds. A remote evidentiary hearing ended on January 29, 2021. In the NCUC Orders in the 2019 rate cases issued on March 31, 2021, and April 16, 2021, for Duke Energy Carolinas and Duke Energy Progress, respectively, the reasonableness and prudence of the deferred storm costs was approved. On May 10, 2021, the NCUC issued financing orders authorizing the companies to issue storm recovery bonds, subject to the terms of the financing orders, and approving the Agreement and Stipulation of Partial Settlement in its entirety. Duke Energy Carolinas and Duke Energy Progress are currently in the process of structuring and marketing the bonds that will be presented to the market.

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FINANCIAL STATEMENTS REGULATORY MATTERS

COVID-19 Filings

North Carolina

Duke Energy Carolinas and Duke Energy Progress filed a joint petition on August 7, 2020, with the NCUC for deferral treatment of incremental costs and the cost of waived customer fees due to the COVID-19 pandemic. Comments on the joint petition were filed on November 5, 2020, and reply comments were filed on November 30, 2020. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter.

South Carolina

Duke Energy Carolinas and Duke Energy Progress filed a report on June 30, 2020, as required by PSCSC order, reporting revenue impact, costs and savings related to COVID-19 to date. On August 14, 2020, Duke Energy Carolinas and Duke Energy Progress filed a joint petition with the PSCSC for approval of an accounting order to defer incremental COVID-19 related costs incurred through June 30, 2020, and for the ongoing months during the duration of the COVID-19 pandemic. Duke Energy Carolinas and Duke Energy Progress withdrew their joint petition on May 17, 2021.

Duke Energy Carolinas

2017 North Carolina Rate Case

On August 25, 2017, Duke Energy Carolinas filed an application with the NCUC for a rate increase for retail customers of approximately $647 million. On February 28, 2018, Duke Energy Carolinas and the Public Staff filed an Agreement and Stipulation of Partial Settlement resolving certain portions of the proceeding. Terms of the settlement included an ROE of 9.9% and a capital structure of 52% equity and 48% debt. On June 22, 2018, the NCUC issued an order approving the Stipulation of Partial Settlement and requiring a revenue reduction.

The North Carolina Attorney General and other parties separately filed Notices of Appeal to the North Carolina Supreme Court. The North Carolina Supreme Court consolidated the Duke Energy Carolinas and Duke Energy Progress appeals. On December 11, 2020, the North Carolina Supreme Court issued an opinion, which affirmed, in part, and reversed and remanded, in part, the NCUC’s decisions. In the Opinion, the court upheld the NCUC's decision to include coal ash costs in the cost of service, as well as the NCUC’s discretion to allow a return on the unamortized balance of coal ash costs. The court also remanded to the NCUC a single issue to consider the assessment of support for the Public Staff’s equitable sharing argument. In response to an NCUC order seeking comments on the proposed procedure on remand, on January 11, 2021, Duke Energy Carolinas, Duke Energy Progress, the Public Staff, the North Carolina Attorney General, Sierra Club and Carolina Industrial Group for Fair Utility Rates II and III filed joint comments proposing that the NCUC not hold additional evidentiary hearings, but instead rely upon existing records in the 2017 North Carolina rate cases, or in the alternative, the records in the 2019 North Carolina rate cases, in deciding the issue on remand. On January 22, 2021, Duke Energy Carolinas and Duke Energy Progress entered into the CCR Settlement Agreement with the Settling Parties, which was filed with the NCUC on January 25, 2021, and approved by the NCUC on March 31, 2021. The NCUC issued an Order on Remand Accepting CCR Settlement and Affirming Previous Orders Setting Rates and Imposing Penalties on June 25, 2021.

2019 North Carolina Rate Case

On September 30, 2019, Duke Energy Carolinas filed an application with the NCUC for a net rate increase for retail customers of approximately $291 million, which represented an approximate 6% increase in annual base revenues. The gross rate case revenue increase request was $445 million, which was offset by an EDIT rider of $154 million to return to customers North Carolina and federal EDIT resulting from recent reductions in corporate tax rates. The request for a rate increase was driven by major capital investments subsequent to the previous base rate case, coal ash pond closure costs, accelerated coal plant depreciation and deferred 2018 storm costs. Duke Energy Carolinas requested rates be effective no later than August 1, 2020. The NCUC established a procedural schedule with an evidentiary hearing to begin on March 23, 2020. On March 16, 2020, in consideration of public health and safety as a result of the COVID-19 pandemic, Duke Energy Carolinas filed a motion with the NCUC seeking a suspension of the procedural schedule in the rate case, including issuing discovery requests, and postponement of the evidentiary hearing for 60 days. Also on March 16, 2020, the NCUC issued an Order Postponing Hearing and Addressing Procedural Matters, which postponed the evidentiary hearing until further order by the commission.

On March 25, 2020, Duke Energy Carolinas and the Public Staff filed an Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain issues in the base rate proceeding. On July 24, 2020, Duke Energy Carolinas filed its request for approval of its notice to customers required to implement temporary rates. On July 27, 2020, Duke Energy Carolinas filed a joint motion with Duke Energy Progress and the Public Staff notifying the commission that the parties reached a joint partial settlement with the Public Staff. Also on July 27, 2020, Duke Energy Carolinas filed a letter stating that it intended to update its temporary rates calculation to reflect the terms of the partial settlement. On July 31, 2020, Duke Energy Carolinas and the Public Staff filed a Second Agreement and Stipulation of Partial Settlement (Second Partial Settlement), subject to review and approval of the NCUC, resolving certain remaining issues in the base rate proceeding. The remaining items litigated at hearing included recovery of deferred coal ash compliance costs that are subject to asset retirement obligation accounting, implementation of new depreciation rates and the amortization period of the loss on the hydro station sale.

On August 4, 2020, Duke Energy Carolinas filed an amended motion for approval of its amended notice to customers, seeking to exercise its statutory right to implement temporary rates subject to refund on or after August 24, 2020. The revenue requirement to be recovered, subject to refund, through the temporary rates was based on and consistent with the base rate component of the Second Partial Settlement and excluded the items to be litigated noted above. The NCUC approved the August 4, 2020 amended temporary rates motion on August 6, 2020, and temporary rates went into effect on August 24, 2020.

The Duke Energy Carolinas evidentiary hearing concluded on September 18, 2020, and post-hearing filings were made with the NCUC from all parties by November 4, 2020. On January 22, 2021, Duke Energy Carolinas and Duke Energy Progress entered into the CCR Settlement Agreement with the Settling Parties, which was filed with the NCUC on January 25, 2021.

49

FINANCIAL STATEMENTS REGULATORY MATTERS

On March 31, 2021, the NCUC issued an order approving the March 25, 2020, and July 31, 2020, partial settlements. The order includes approval of 1) an ROE of 9.6% based upon a capital structure of 52% equity and 48% debt; 2) deferral treatment of approximately $800 million of grid improvement projects with a return; 3) a flow back period of five years for unprotected federal EDIT; and 4) the reasonableness and prudence of $213 million of deferred storm costs, which were removed from the rate case and for which Duke Energy Carolinas filed a petition seeking securitization in October 2020. Additionally, the order approved without modification the CCR Settlement Agreement.

The order denied Duke Energy Carolinas' proposal to shorten the remaining depreciable lives of certain Duke Energy Carolinas coal-fired generating units, indicating the appropriate proceeding for the review of generating plant retirements is Duke Energy Carolinas' integrated resource planning (IRP) proceeding.

On May 21, 2021, the NCUC issued an Order Approving Rate Schedules, which resulted in a net increase of approximately $33 million. Revised customer rates became effective on June 1, 2021. The deadline to appeal has passed and no parties appealed the NCUC's order.

2018 South Carolina Rate Case

On November 8, 2018, Duke Energy Carolinas filed an application with the PSCSC for a rate increase for retail customers of approximately $168 million.

After hearings in March 2019, the PSCSC issued an order on May 21, 2019, which included an ROE of 9.5% and a capital structure of 53% equity and 47% debt. The order also included the following material components:

•Approval of cancellation of the Lee Nuclear Project, with Duke Energy Carolinas maintaining the Combined Operating License;

•Approval of recovery of $125 million (South Carolina retail portion) of Lee Nuclear Project development costs (including AFUDC through December 2017) over a 12-year period, but denial of a return on the deferred balance of costs;

•Approval of recovery of $96 million of coal ash costs over a five-year period with a return at Duke Energy Carolinas' WACC;

•Denial of recovery of $115 million of certain coal ash costs deemed to be related to the Coal Ash Act and incremental to the federal CCR rule;

•Approval of a $66 million decrease to base rates to reflect the change in ongoing tax expense, primarily the reduction in the federal income tax rate from 35% to 21%;

•Approval of a $45 million decrease through the EDIT Rider to return EDIT resulting from the federal tax rate change and deferred revenues since January 2018 related to the change, to be returned in accordance with the Average Rate Assumption Method (ARAM) for protected EDIT, over a 20-year period for unprotected EDIT associated with Property, Plant and Equipment, over a five-year period for unprotected EDIT not associated with Property, Plant and Equipment and over a five-year period for the deferred revenues; and

•Approval of a $17 million decrease through the EDIT Rider related to reductions in the North Carolina state income tax rate from 6.9% to 2.5% to be returned over a five-year period.

As a result of the order, revised customer rates were effective June 1, 2019. On May 31, 2019, Duke Energy Carolinas filed a Petition for Rehearing or Reconsideration of that order contending substantial rights of Duke Energy Carolinas were prejudiced by unlawful, arbitrary and capricious rulings by the PSCSC on certain issues presented in the proceeding. On June 19, 2019, the PSCSC issued a Directive denying Duke Energy Carolinas' request to rehear or reconsider the commission's rulings on certain issues presented in the proceeding including coal ash remediation and disposal costs, ROE and the recovery of a return on deferred operation and maintenance expenses. An order detailing the commission's decision in the Directive was issued on October 18, 2019. Duke Energy Carolinas filed a notice of appeal on November 15, 2019, with the Supreme Court of South Carolina. On November 20, 2019, the South Carolina Energy Users Committee filed a Notice of Appeal with the Supreme Court of South Carolina. Initial briefs were filed on April 21, 2020, which included the South Carolina Energy User's Committee brief arguing that the PSCSC erred in allowing Duke Energy Carolinas' recovery of costs related to the Lee Nuclear Station. Response briefs were filed on July 6, 2020, and reply briefs were filed on August 11, 2020. Oral arguments were heard before the Supreme Court of South Carolina on May 26, 2021. Based on legal analysis and the filing of the appeal, Duke Energy Carolinas has not recorded an adjustment for its deferred coal ash costs in this matter. Duke Energy Carolinas cannot predict the outcome of this matter.

Duke Energy Progress

2017 North Carolina Rate Case

On June 1, 2017, Duke Energy Progress filed an application with the NCUC for a rate increase for retail customers of approximately $477 million, which was subsequently adjusted to $420 million. On November 22, 2017, Duke Energy Progress and the Public Staff filed an Agreement and Stipulation of Partial Settlement resolving certain portions of the proceeding. Terms of the settlement included an ROE of 9.9% and a capital structure of 52% equity and 48% debt. On February 23, 2018, the NCUC issued an order approving the stipulation. The Public Staff, the North Carolina Attorney General and the Sierra Club filed notices of appeal to the North Carolina Supreme Court.

50

FINANCIAL STATEMENTS REGULATORY MATTERS

The North Carolina Supreme Court consolidated the Duke Energy Carolinas and Duke Energy Progress appeals. On December 11, 2020, the North Carolina Supreme Court issued an opinion, which affirmed, in part, and reversed and remanded, in part, the NCUC’s decisions. In the Opinion, the court upheld the NCUC's decision to include coal ash costs in the cost of service, as well as the NCUC’s discretion to allow a return on the unamortized balance of coal ash costs. The court also remanded to the NCUC a single issue to consider the assessment of support for the Public Staff’s equitable sharing argument. In response to an NCUC order seeking comments on the proposed procedure on remand, on January 11, 2021, Duke Energy Carolinas, Duke Energy Progress, the Public Staff, the North Carolina Attorney General, Sierra Club and Carolina Industrial Group for Fair Utility Rates II and III filed joint comments proposing that the NCUC not hold additional evidentiary hearings, but instead rely upon existing records in the 2017 North Carolina rate cases or in the alternative the records in the 2019 North Carolina rate cases, in deciding the issue on remand. On January 22, 2021, Duke Energy Progress and Duke Energy Carolinas entered into the CCR Settlement Agreement with the Settling Parties, which was filed with the NCUC on January 25, 2021, and approved by the NCUC on April 16, 2021. The NCUC issued an Order on Remand Accepting CCR Settlement and Affirming Previous Orders Setting Rates and Imposing Penalties on June 25, 2021.

2019 North Carolina Rate Case

On October 30, 2019, Duke Energy Progress filed an application with the NCUC for a net rate increase for retail customers of approximately $464 million, which represented an approximate 12.3% increase in annual base revenues. The gross rate case revenue increase request was $586 million, which was offset by riders of $122 million, primarily an EDIT rider of $120 million to return to customers North Carolina and federal EDIT resulting from recent reductions in corporate tax rates. The request for a rate increase was driven by major capital investments subsequent to the previous base rate case, coal ash pond closure costs, accelerated coal plant depreciation and deferred 2018 storm costs. Duke Energy Progress sought to defer and recover incremental Hurricane Dorian storm costs in this proceeding and requested rates be effective no later than September 1, 2020. As a result of the COVID-19 pandemic, on March 24, 2020, the NCUC suspended the procedural schedule and postponed the previously scheduled evidentiary hearing on this matter indefinitely. On April 7, 2020, the NCUC issued an order partially resuming the procedural schedule requiring intervenors to file direct testimony on April 13, 2020. Public Staff filed supplemental direct testimony on April 23, 2020. Duke Energy Progress filed rebuttal testimony on May 4, 2020.

On June 2, 2020, Duke Energy Progress and the Public Staff filed an Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain issues in the base rate proceeding. On July 27, 2020, Duke Energy Progress filed a joint motion with Duke Energy Carolinas and the Public Staff notifying the commission that the parties reached a joint partial settlement with the Public Staff. On July 31, 2020, Duke Energy Progress and the Public Staff filed a Second Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain remaining issues in the base rate proceeding. The remaining items litigated at hearing included recovery of deferred coal ash compliance costs that are subject to asset retirement obligation accounting and implementation of new depreciation rates.

On August 7, 2020, Duke Energy Progress filed a motion for approval of notice required to implement temporary rates, seeking to exercise its statutory right to implement temporary rates subject to refund on or after September 1, 2020. The revenue requirement to be recovered subject to refund through the temporary rates was based on and consistent with the terms of the base rate component of the settlement agreements with the Public Staff and excluded items to be litigated noted above. In addition, Duke Energy Progress also sought authorization to place a temporary decrement EDIT Rider into effect, concurrent with the temporary base rate change. The NCUC approved the August 7, 2020 temporary rates motion on August 11, 2020, and temporary rates went into effect on September 1, 2020.

The Duke Energy Progress evidentiary hearing concluded on October 6, 2020, and post-hearing filings were filed with the NCUC from all parties by December 4, 2020. On January 22, 2021, Duke Energy Progress and Duke Energy Carolinas entered into the CCR Settlement Agreement with the Settling Parties, which was filed with the NCUC on January 25, 2021.

On April 16, 2021, the NCUC issued an order approving the June 2, 2020, and July 31, 2020, partial settlements. The order includes approval of 1) an ROE of 9.6% based upon a capital structure of 52% equity and 48% debt; 2) deferral treatment of approximately $400 million of grid improvement projects with a return; 3) a flow back period of five years for unprotected federal EDIT; and 4) the reasonableness and prudence of approximately $714 million of deferred storm costs, which were removed from the rate case and for which Duke Energy Progress filed a petition seeking securitization in October 2020. Additionally, the order approved without modification the CCR Settlement Agreement.

The order denied Duke Energy Progress' proposal to shorten the remaining depreciable lives of certain Duke Energy Progress coal-fired generating units, indicating the appropriate proceeding for the review of generating plant retirements is Duke Energy Progress' IRP proceeding.

On May 21, 2021, the NCUC issued an Order Approving Rate Schedules, which resulted in a net increase of approximately $178 million. Revised customer rates became effective on June 1, 2021. The deadline to appeal has passed and no parties appealed the NCUC's order.

2018 South Carolina Rate Case

On November 8, 2018, Duke Energy Progress filed an application with the PSCSC for a rate increase for retail customers of approximately $59 million.

After hearings in April 2019, the PSCSC issued an order on May 21, 2019, which included an ROE of 9.5% and a capital structure of 53% equity and 47% debt. The order also included the following material components:

•Approval of recovery of $4 million of coal ash costs over a five-year period with a return at Duke Energy Progress' WACC;

•Denial of recovery of $65 million of certain coal ash costs deemed to be related to the Coal Ash Act and incremental to the federal CCR rule;

•Approval of a $17 million decrease to base rates to reflect the change in ongoing tax expense, primarily the reduction in the federal income tax rate from 35% to 21%;

51

FINANCIAL STATEMENTS REGULATORY MATTERS

•Approval of a $12 million decrease through the EDIT Tax Savings Rider resulting from the federal tax rate change and deferred revenues since January 2018 related to the change, to be returned in accordance with ARAM for protected EDIT, over a 20-year period for unprotected EDIT associated with Property, Plant and Equipment, over a five-year period for unprotected EDIT not associated with Property, Plant and Equipment and over a three-year period for the deferred revenues; and

•Approval of a $12 million increase due to the expiration of EDIT related to reductions in the North Carolina state income tax rate from 6.9% to 2.5%.

As a result of the order, revised customer rates were effective June 1, 2019. On May 31, 2019, Duke Energy Progress filed a Petition for Rehearing or Reconsideration of that order contending substantial rights of Duke Energy Progress were prejudiced by unlawful, arbitrary and capricious rulings by the PSCSC on certain issues presented in the proceeding. On June 19, 2019, the PSCSC issued a Directive denying Duke Energy Progress' request to rehear or reconsider the commission's rulings on certain issues presented in the proceeding including coal ash remediation and disposal costs, ROE and the recovery of a return on deferred operation and maintenance expenses, but allowing additional litigation-related costs. As a result of the Directive allowing litigation-related costs, customer rates were revised effective July 1, 2019. An order detailing the commission's decision in the Directive was issued on October 18, 2019. Duke Energy Progress filed a notice of appeal on November 15, 2019, with the Supreme Court of South Carolina. Initial briefs were filed on April 21, 2020. Response briefs were filed on July 6, 2020, and reply briefs were filed on August 11, 2020. Oral arguments were heard before the Supreme Court of South Carolina on May 26, 2021. Based on legal analysis and the filing of the appeal, Duke Energy Progress has not recorded an adjustment for its deferred coal ash costs in this matter. Duke Energy Progress cannot predict the outcome of this matter.

Western Carolinas Modernization Plan

On October 8, 2018, Duke Energy Progress filed an application with the NCUC for a CPCN to construct the Hot Springs Microgrid Solar and Battery Storage Facility, which was approved with certain conditions on May 10, 2019. A hearing to update the NCUC on the status of the project was held on March 5, 2020. Construction began in May 2020 with commercial operation expected to begin in October 2021.

On July 27, 2020, Duke Energy Progress filed an application with the NCUC for a CPCN to construct the Woodfin Solar Facility, a 5-MW solar generating facility to be constructed on a closed landfill in Buncombe County. The expert hearing was held on November 18, 2020. The application was approved and a CPCN was granted by order of the NCUC on April 20, 2021.

FERC Return on Equity Complaints

On October 11, 2019, North Carolina Eastern Municipal Power Agency (NCEMPA) filed a complaint at the FERC against Duke Energy Progress pursuant to Section 206 of the Federal Power Act (FPA), alleging that the 11% stated ROE component contained in the demand formula rate in the Full Requirements Power Purchase Agreement (FRPPA) between NCEMPA and Duke Energy Progress is unjust and unreasonable. On July 16, 2020, the FERC set this matter for hearing and settlement judge procedures and established a refund effective date of October 11, 2019. In its order setting the matter for settlement, the FERC allowed for the consideration of variations to the base transmission-related ROE methodology developed in its Order No. 569-A, through the introduction of “specific facts and circumstances” involving issues specific to the case. The parties reached a settlement in principle at a settlement conference on January 7, 2021, and filed a settlement package on March 10, 2021. The FERC Trial Staff filed comments in support of the settlement. On April 19, 2021, the Settlement Judge certified the settlement to the FERC as an uncontested settlement. The FERC approved the settlement on May 25, 2021, and Duke Energy Progress filed compliance documents on June 10, 2021.

On October 16, 2020, North Carolina Electric Membership Corporation (NCEMC) filed a complaint at the FERC against Duke Energy Progress pursuant to Section 206 of the FPA, alleging that the 11% stated ROE component in the demand formula rate in the Power Supply and Coordination Agreement between NCEMC and Duke Energy Progress is unjust and unreasonable. Under FPA Section 206, the earliest refund effective date that the FERC can establish is the date of the filing of the complaint. Duke Energy Progress responded to the complaint on November 20, 2020, seeking dismissal, demonstrating that the 11% ROE is just and reasonable for the service provided. The parties filed responsive pleadings and are awaiting an order from the FERC. Duke Energy Progress cannot predict the outcome of this matter.

Duke Energy Florida

2021 Settlement Agreement

On January 14, 2021, Duke Energy Florida filed a Settlement Agreement (the “2021 Settlement”) with the FPSC. The parties to the 2021 Settlement include Duke Energy Florida, the Office of Public Counsel (OPC), the Florida Industrial Power Users Group, White Springs Agricultural Chemicals, Inc. d/b/a PCS Phosphate and NUCOR Steel Florida, Inc. (collectively, the “Parties”).

Pursuant to the 2021 Settlement, the Parties agreed to a base rate stay-out provision that expires year-end 2024; however, Duke Energy Florida is allowed an increase to its base rates of an incremental $67 million in 2022, $49 million in 2023 and $79 million in 2024, subject to adjustment in the event of tax reform during the years 2021, 2022 and 2023. The Parties also agreed to an ROE band of 8.85% to 10.85% with a midpoint of 9.85% based on a capital structure of 53% equity and 47% debt. The ROE band can be increased by 25 basis points if the average 30-year U.S. Treasury rate increases 50 basis points or more over a six-month period in which case the midpoint ROE would rise from 9.85% to 10.10%. Duke Energy Florida will also be able to retain the DOE award of approximately $173 million for spent nuclear fuel, which is expected to be received in 2022, in order to mitigate customer rates over the term of the 2021 Settlement. In return, Duke Energy Florida will be able to recognize the $173 million into earnings from 2022 through 2024.

In addition to these terms, the 2021 Settlement contains provisions related to the accelerated depreciation of Crystal River Units 4-5, the approval of approximately $1 billion in future investments in new cost-effective solar power, the implementation of a new Electric Vehicle Charging Station Program and the deferral and recovery of costs in connection with the implementation of Duke Energy Florida’s Vision Florida program, which explores various emerging non-carbon emitting generation technology, distributed technologies and resiliency projects, among other things. The 2021 Settlement also resolves remaining unrecovered storm costs for Hurricane Dorian and Hurricane Michael.

The FPSC approved the 2021 Settlement on May 4, 2021, issuing an order on June 4, 2021. Revised customer rates will be effective January 1, 2022, with subsequent base rate increases effective January 1, 2023, and January 1, 2024.

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FINANCIAL STATEMENTS REGULATORY MATTERS

Storm Restoration Cost Recovery

Duke Energy Florida filed a petition with the FPSC on April 30, 2019, to recover $223 million of estimated retail incremental storm restoration costs for Hurricane Michael, consistent with the provisions in the 2017 Settlement, and the FPSC approved the petition on June 11, 2019. The FPSC also approved allowing Duke Energy Florida to use the tax savings resulting from the Tax Act to recover these storm costs in lieu of implementing a storm surcharge. Approved storm costs are currently expected to be fully recovered by year-end 2021. On November 22, 2019, Duke Energy Florida filed a petition for approval of actual retail recoverable storm restoration costs related to Hurricane Michael in the amount of $191 million plus interest. On May 19, 2020, Duke Energy Florida filed a supplemental true up reducing the actual retail recoverable storm restoration costs related to Hurricane Michael by approximately $3 million, resulting in a total request to recover $188 million actual retail recoverable storm restoration costs, plus interest. Approximately $3 million and $80 million of these costs are included in Regulatory assets within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets as of June 30, 2021, and December 31, 2020, respectively.

Duke Energy Florida filed a petition with the FPSC on December 19, 2019, to recover $169 million of estimated retail incremental storm restoration costs for Hurricane Dorian, consistent with the provisions in the 2017 Settlement and the FPSC approved the petition on February 24, 2020. The final actual amount of $145 million was filed on September 30, 2020. The 2021 Settlement resolved all matters regarding storm cost recovery relating to Hurricane Michael and Hurricane Dorian.

Clean Energy Connection

On July 1, 2020, Duke Energy Florida petitioned the FPSC for approval of a voluntary solar program. The program consists of 10 new solar generating facilities with combined capacity of approximately 750 MW. The program allows participants to support cost-effective solar development in Florida by paying a subscription fee based on per kilowatt-subscriptions and receiving a credit on their bill based on the actual generation associated with their portion of the solar portfolio. The estimated cost of the 10 new solar generation facilities is approximately $1 billion over the next four years, and this investment will be included in base rates offset by the revenue from the subscription fees. The credits will be included for recovery in the fuel cost recovery clause. A remote hearing was held on November 17, 2020, and post-hearing briefs were filed with the FPSC from all parties by December 9, 2020. The FPSC voted to approve the program on January 5, 2021, and issued its written order on January 26, 2021.

On February 24, 2021, the League of United Latin American Citizens (LULAC) filed a notice of appeal of the FPSC’s order approving the Clean Energy Connection to the Supreme Court of Florida. LULAC's initial brief was filed on May 26, 2021, and Appellees' response briefs were filed on July 26, 2021. The FPSC approval order remains in effect pending the outcome of the appeal. Duke Energy Florida cannot predict the outcome of this matter.

Duke Energy Ohio

Ohio House Bill 6

On July 23, 2019, House Bill 6 was signed into law and became effective January 1, 2020. Among other things, the bill allows for funding, through a rider mechanism referred to as the Clean Air Fund (Rider CAF), of two nuclear generating facilities located in Northern Ohio owned by Energy Harbor (f/k/a FirstEnergy Solutions), repeal of energy efficiency mandates and recovery of prudently incurred costs, net of any revenues, for Ohio investor-owned utilities that are participants under the OVEC power agreement. The recovery is through a non-bypassable rider that replaced any existing recovery mechanism approved by the PUCO and will remain in place through 2030. As such, Duke Energy Ohio created the Legacy Generation Rider (Rider LGR) that replaced Rider PSR effective January 1, 2020. The amounts recoverable from customers are subject to an annual cap, with incremental costs that exceed such cap eligible for deferral and recovery subject to review. See Note 11 for additional discussion of Duke Energy Ohio's ownership interest in OVEC. House Bill 128 was signed into law on March 31, 2021, and became effective June 30, 2021. The bill removes nuclear plant funding from Rider CAF and does not impact OVEC cost recovery.

Energy Efficiency Cost Recovery

On February 26, 2020, the PUCO issued an order directing utilities to wind down their demand-side management programs by September 30, 2020, and to terminate the programs by December 31, 2020, in response to changes in Ohio law that eliminated Ohio's energy efficiency mandates. On March 27, 2020, Duke Energy Ohio filed an Application for Rehearing seeking clarification on the final true up and reconciliation process after 2020. On November 18, 2020, the PUCO issued two orders on the application for rehearing. The first order was a Third Entry on Rehearing on the Duke Energy Ohio portfolio holding the cost cap previously imposed was unlawful, a shared savings cap of $8 million pretax should be imposed and lost distribution revenues could not be recovered after December 31, 2020. The second order directs all utilities set the rider to zero effective January 1, 2021, and to file a separate application for final reconciliation of all energy efficiency costs prior to December 31, 2020. On December 18, 2020, Duke Energy Ohio filed an application for rehearing. On January 13, 2021, the application for rehearing was granted for further consideration. Duke Energy Ohio cannot predict the outcome of this matter.

On October 9, 2020, Duke Energy Ohio filed an application to implement a voluntary energy efficiency program portfolio to commence on January 1, 2021. The application proposes a mechanism for recovery of program costs and a benefit associated with avoided transmission and distribution costs. The application remains under review. Effective January 1, 2021, Duke Energy Ohio suspended its energy efficiency programs due to changes in Ohio law. On June 14, 2021, the PUCO issued an entry for each utility to file by July 15, 2021, a proposal to reestablish low-income programs through December 31, 2021. Duke Energy Ohio filed its application on July 14, 2021. Duke Energy Ohio cannot predict the outcome of this matter.

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FINANCIAL STATEMENTS REGULATORY MATTERS

Natural Gas Pipeline Extension

Duke Energy Ohio is installing a new natural gas pipeline (the Central Corridor Project) in its Ohio service territory to increase system reliability and enable the retirement of older infrastructure. Duke Energy Ohio currently estimates the pipeline development costs and construction activities will range from $163 million to $245 million in direct costs (excluding overheads and AFUDC) and that construction of the pipeline extension will be completed before the 2021/2022 winter season. An evidentiary hearing on Duke Energy Ohio's application for a Certificate of Environmental Compatibility and Public Need concluded on April 11, 2019. On November 21, 2019, the Ohio Power Siting Board (OPSB) approved Duke Energy Ohio's application subject to 41 conditions on construction. Applications for rehearing were filed by several stakeholders on December 23, 2019, arguing that the OPSB approval was incorrect. On February 20, 2020, the OPSB denied the rehearing requests. On April 15, 2020, Those stakeholders filed a notice of appeal at the Supreme Court of Ohio of the OPSB’s decision approving Duke Energy Ohio’s Central Corridor project application. The appeal was fully briefed and the Ohio Supreme Court oral argument was held on March 31, 2021.er.

On September 22, 2020, Duke Energy Ohio filed an application with the OPSB for approval to amend the certificated pipeline route due to changes in the route negotiated with property owners and municipalities. On January 21, 2021, the OPSB approved the amended filing with recommended conditions that reaffirm previous conditions and provide guidance regarding local permitting and construction supervision. Duke Energy Ohio cannot predict the outcome of this matter.

MGP Cost Recovery

In an order issued in 2013, the PUCO approved Duke Energy Ohio's deferral and recovery of costs related to environmental remediation at two sites (East End and West End) that housed former MGP operations. Duke Energy Ohio has collected approximately $55 million in environmental remediation costs incurred between 2009 through 2012 through Rider MGP, which is currently suspended. Duke Energy Ohio has made annual applications with the PUCO to recover its incremental remediation costs consistent with the PUCO’s directive in Duke Energy Ohio’s 2012 natural gas base rate case. To date, the PUCO has not ruled on Duke Energy Ohio’s annual applications for the calendar years 2013 through 2019. On September 28, 2018, the staff of the PUCO issued a report recommending a disallowance of approximately $12 million of the $26 million in MGP remediation costs incurred between 2013 through 2017 that staff believes are not eligible for recovery. Staff interprets the PUCO’s 2012 order granting Duke Energy Ohio recovery of MGP remediation as limiting the recovery to work directly on the East End and West End sites. On October 30, 2018, Duke Energy Ohio filed reply comments objecting to the staff’s recommendations and explaining, among other things, the obligation Duke Energy Ohio has under Ohio law to remediate all areas impacted by the former MGPs and not just physical property that housed the former plants and equipment. On March 29, 2019, Duke Energy Ohio filed its annual application to recover incremental remediation expense for the calendar year 2018 seeking recovery of approximately $20 million in remediation costs. On July 12, 2019, the staff recommended a disallowance of approximately $11 million for work that staff believes occurred in areas not authorized for recovery. Additionally, staff recommended that any discussion pertaining to Duke Energy Ohio's recovery of ongoing MGP costs should be directly tied to or netted against insurance proceeds collected by Duke Energy Ohio. An evidentiary hearing concluded on November 21, 2019. Initial briefs were filed on January 17, 2020, and reply briefs were filed on February 14, 2020. Duke Energy Ohio cannot predict the outcome of this matter.

On March 31, 2020, Duke Energy Ohio filed its annual application to recover incremental MGP remediation expense, seeking recovery of approximately $39 million in remediation costs incurred during 2019. On July 23, 2020, the staff of the PUCO recommended a disallowance of approximately $4 million for work the staff believes occurred in areas not authorized for recovery. Additionally, the staff recommended insurance proceeds, net of litigation costs and attorney fees, should be paid to customers and not be held by Duke Energy Ohio until all investigation and remediation is complete. Duke Energy Ohio filed comments in response to the staff report on August 21, 2020, and intervenor comments were filed on November 9, 2020. Duke Energy Ohio cannot predict the outcome of this matter.

The 2012 PUCO order also contained conditional deadlines for completing the MGP environmental remediation and the deferral of related remediation costs. Subsequent to the order, the deadline was extended to December 31, 2019. On May 10, 2019, Duke Energy Ohio filed an application requesting a continuation of its existing deferral authority for MGP remediation that must occur after December 31, 2019. On July 12, 2019, staff recommended the commission deny the deferral authority request. On September 13, 2019, intervenor comments were filed opposing Duke Energy Ohio's request for continuation of existing deferral authority and on October 2, 2019, Duke Energy Ohio filed reply comments. Duke Energy Ohio cannot predict the outcome of this matter.

Tax Act – Ohio

On December 21, 2018, Duke Energy Ohio filed an application to change its base rate tariffs and establish a new rider to implement the benefits of the Tax Act for natural gas customers. Duke Energy Ohio requested commission approval to implement the tariff changes and rider effective April 1, 2019. The new rider will flow through to customers the benefit of the reduction in the statutory federal tax rate from 35% to 21% since January 1, 2018, all future benefits of the lower tax rates and a full refund of deferred income taxes collected at the higher tax rates in prior years. Deferred income taxes subject to normalization rules will be refunded consistent with federal law and deferred income taxes not subject to normalization rules will be refunded over a 10-year period. The PUCO established a procedural schedule and testimony was filed on July 31, 2019. An evidentiary hearing occurred on August 7, 2019. Initial briefs were filed on September 11, 2019. Reply briefs were filed on September 25, 2019. Duke Energy Ohio cannot predict the outcome of this matter.

Duke Energy Kentucky Natural Gas Base Rate Case

On June 1, 2021, Duke Energy Kentucky filed an application with the KPSC requesting an increase in natural gas base rates of approximately $15 million, an approximate 13% average increase across all customer classes. The drivers for this case are capital invested since Duke Energy Kentucky's last natural gas base rate case in 2018. Duke Energy Kentucky is also seeking implementation of a Governmental Mandate Adjustment mechanism (Rider GMA) in order to recover from or pay to customers the financial impact of governmental directives and mandates, including changes in federal or state tax rates and regulations issued by the Pipeline and Hazardous Materials Safety Administration. The KPSC accepted Duke Energy Kentucky’s filing as of June 3, 2021, as meeting all filing requirements and issued its first round of discovery. A procedural schedule was set with a hearing scheduled for October 18, 2021. Duke Energy Kentucky cannot predict the outcome of this matter.

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FINANCIAL STATEMENTS REGULATORY MATTERS

Duke Energy Indiana

2019 Indiana Rate Case

On July 2, 2019, Duke Energy Indiana filed a general rate case with the IURC for a rate increase for retail customers of approximately $395 million. The rebuttal case, filed on December 4, 2019, updated the requested revenue requirement to result in a 15.6% or $396 million average retail rate increase, including the impacts of the Utility Receipts Tax. Hearings concluded on February 7, 2020. On June 29, 2020, the IURC issued an order in the rate case approving a revenue increase of $146 million before certain adjustments and ratemaking refinements. The order approved Duke Energy Indiana’s requested forecasted rate base of $10.2 billion as of December 31, 2020, including the Edwardsport Integrated Gasification Combined Cycle (IGCC) Plant. The IURC reduced Duke Energy Indiana’s request by slightly more than $200 million, when accounting for the utility receipts tax and other adjustments. Approximately 50% of the reduction was due to a prospective change in depreciation and use of regulatory asset for the end-of-life inventory at retired generating plants, approximately 20% was due to the approved ROE of 9.7% versus the requested ROE of 10.4% and approximately 20% was related to miscellaneous earnings neutral adjustments. Step one rates were estimated to be approximately 75% of the total and became effective on July 30, 2020. Step two rates are estimated to be the remaining 25% of the total rate increase. Step two rates were approved July 28, 2021, and implemented in August 2021. Step two rates are based on a return on equity of 9.7% and actual December 31, 2020 capital structure with a 54% equity component. Step two rates will be reconciled to January 1, 2021. Several groups appealed the IURC order to the Indiana Court of Appeals. Appellate briefs were filed on October 14, 2020, focusing on three issues: wholesale sales allocations, coal ash basin cost recovery and the Edwardsport IGCC operating and maintenance expense level approved. The appeal was fully briefed in January 2021 and an oral argument was held on April 8, 2021. The Indiana Court of Appeals affirmed the IURC decision on May 13, 2021. The Indiana Office of Utility Consumer Counselor (OUCC) and the Duke Industrial Group filed a joint petition to transfer the rate case appeal to the Indiana Supreme Court on June 28, 2021. Response briefs were filed July 19, 2021. Duke Energy Indiana cannot predict the outcome of this matter.

2020 Indiana Coal Ash Recovery Case

In Duke Energy Indiana’s 2019 rate case, the IURC approved coal ash basin closure costs expended through 2018 including financing costs as a regulatory asset and included in rate base. The IURC also opened a subdocket to deal with the post-2018 coal ash related expenditures. Duke Energy Indiana filed testimony on April 15, 2020, in the coal ash subdocket requesting recovery for the post-2018 coal ash basin closure costs for plans that have been approved by the Indiana Department of Environmental Management as well as continuing deferral, with carrying costs, on the balance. An evidentiary hearing was held on September 14, 2020, and the parties agreed on a delayed briefing schedule that allows for the Indiana Rate Case appeal to proceed. Briefing will be completed by mid-September 2021. Duke Energy Indiana cannot predict the outcome of this matter.

Piedmont

2020 Tennessee Rate Case

On July 2, 2020, Piedmont filed an application with the TPUC, its first general rate case in Tennessee in nine years, for a rate increase for retail customers of approximately $30 million, which represents an approximate 15% increase in annual revenues. The rate increase is driven by significant infrastructure upgrade investments since Piedmont's previous rate case. Approximately half of the plant additions being added to rate base are categories of capital investment not covered under the IMR mechanism, which was approved in 2013. Piedmont amended its requested increase to approximately $26 million in December 2020. As authorized under Tennessee law, Piedmont implemented interim rates on January 2, 2021, at the level requested in its adjusted request. A settlement reached with the Tennessee Consumer Advocate in mid-January was filed with the TPUC on February 2, 2021. The settlement results in an increase of revenues of approximately $16 million and an ROE of 9.8%. On May 6, 2021, the TPUC issued an order approving the settlement. Revised customer rates became effective January 2, 2021. Piedmont refunded customers the difference between bills previously rendered under interim rates and such bills if rendered under approved rates, plus interest, in April 2021.

2021 North Carolina Rate Case

On March 22, 2021, Piedmont filed an application with the NCUC for a rate increase for retail customers of approximately $109 million, which represents an approximate 10% increase in retail revenues. The rate increase is driven by customer growth and significant infrastructure upgrade investments (plant additions) since the last general rate case. Approximately 30% of the plant additions being rolled into rate base are categories of plant investment that are covered under the IMR mechanism, which was originally approved as part of the 2013 North Carolina Rate Case. On July 28, 2021, Piedmont amended its requested increase to approximately $97 million. The NCUC has established a procedural schedule with an evidentiary hearing to commence on September 7, 2021. Piedmont cannot predict the outcome of this matter.

OTHER REGULATORY MATTERS

Atlantic Coast Pipeline, LLC

Atlantic Coast Pipeline (ACP pipeline) was planned to be an approximately 600-mile interstate natural gas pipeline running from West Virginia to North Carolina. Duke Energy indirectly owns a 47% interest, which is accounted for as an equity method investment through its Gas Utilities and Infrastructure segment.

As a result of the uncertainty created by various legal rulings, the potential impact on the cost and schedule for the project, the ongoing legal challenges and the risk of additional legal challenges and delays through the construction period and Dominion’s decision to sell substantially all of its gas transmission and storage segment assets, Duke Energy's Board of Directors and management decided that it was not prudent to continue to invest in the project. On July 5, 2020, Duke Energy and Dominion announced the cancellation of the ACP pipeline project.

55

FINANCIAL STATEMENTS REGULATORY MATTERS

As part of the pretax charges to earnings of approximately $2.1 billion recorded in June 2020, within Equity in (losses) earnings of unconsolidated affiliates on the Duke Energy Condensed Consolidated Statements of Operations, Duke Energy established liabilities related to the cancellation of the ACP pipeline project. In February 2021, Duke Energy paid approximately $855 million to fund ACP's outstanding debt, relieving Duke Energy of its guarantee. At June 30, 2021, there is $33 million and $69 million within Other Current Liabilities and Other Noncurrent Liabilities, respectively, in the Gas Utilities and Infrastructure segment. The liabilities represent Duke Energy's obligation of approximately $102 million to satisfy remaining ARO requirements to restore construction sites.

See Notes 1 and 11 for additional information regarding this transaction.

Potential Coal Plant Retirements

The Subsidiary Registrants periodically file integrated resource plans (IRPs) with their state regulatory commissions. The IRPs provide a view of forecasted energy needs over a long term (10 to 20 years) and options being considered to meet those needs. IRPs filed by the Subsidiary Registrants included planning assumptions to potentially retire certain coal-fired generating facilities in North Carolina and Indiana earlier than their current estimated useful lives. Duke Energy continues to evaluate the potential need to retire these coal-fired generating facilities earlier than the current estimated useful lives and plans to seek regulatory recovery for amounts that would not be otherwise recovered when any of these assets are retired.

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 Condensed Consolidated Balance Sheets as of June 30, 2021, and exclude capitalized asset retirement costs.

		Remaining Net
	Capacity	Book Value
	(in MW)	(in millions)
Duke Energy Carolinas
Allen Steam Station Units 1-2(a)	324	$	20
Allen Steam Station Units 4-5(b)	516	376
Cliffside Unit 5(b)	544	337
Duke Energy Progress
Mayo Unit 1(b)	704	650
Roxboro Units 3-4(b)	1,392	474
Duke Energy Florida
Crystal River Units 4-5(c)	1,410	1,670
Duke Energy Indiana (d)
Gibson Units 1-5(e)	2,822	1,840
Cayuga Units 1-2(e)	995	736
Total Duke Energy	8,707	$	6,103

(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.

(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.

(c)On January 14, 2021, Duke Energy Florida filed a settlement agreement 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 settlement was approved by the FPSC 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)On July 1, 2019, Duke Energy Indiana submitted its 2018 IRP with the IURC. The 2018 IRP included scenarios evaluating the potential retirement of coal-fired generating units at Gibson and Cayuga. 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.

4. COMMITMENTS AND CONTINGENCIES

ENVIRONMENTAL

The Duke Energy Registrants are subject to federal, state and local regulations regarding air and water quality, hazardous and solid waste disposal, coal ash and other environmental matters. These regulations can be changed from time to time, imposing new obligations on the Duke Energy Registrants. The following environmental matters impact all Duke Energy Registrants.

56

FINANCIAL STATEMENTS COMMITMENTS AND CONTINGENCIES

Remediation Activities

In addition to AROs recorded as a result of various environmental regulations, the Duke Energy Registrants are responsible for environmental remediation at various sites. These include certain properties that are part of ongoing operations and sites formerly owned or used by Duke Energy entities. These sites are in various stages of investigation, remediation and monitoring. Managed in conjunction with relevant federal, state and local agencies, remediation activities vary based upon site conditions and location, remediation requirements, complexity and sharing of responsibility. If remediation activities involve joint and several liability provisions, strict liability, or cost recovery or contribution actions, the Duke Energy Registrants could potentially be held responsible for environmental impacts caused by other potentially responsible parties and may also benefit from insurance policies or contractual indemnities that cover some or all cleanup costs. Liabilities are recorded when losses become probable and are reasonably estimable. The total costs that may be incurred cannot be estimated because the extent of environmental impact, allocation among potentially responsible parties, remediation alternatives and/or regulatory decisions have not yet been determined at all sites. Additional costs associated with remediation activities are likely to be incurred in the future and could be significant. Costs are typically expensed as Operation, maintenance and other on the Condensed Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable.

The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Accounts Payable within Current Liabilities and Other within Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets.

(in millions)	June 30, 2021		December 31, 2020
Reserves for Environmental Remediation
Duke Energy	$	74	$	75
Duke Energy Carolinas	20		19
Progress Energy	18		19
Duke Energy Progress	6		6
Duke Energy Florida	12		12
Duke Energy Ohio	21		22
Duke Energy Indiana	5		6
Piedmont	11		10

Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are not material except as presented in the table below.

(in millions)
Duke Energy	$	20
Duke Energy Carolinas	12
Duke Energy Ohio	4

LITIGATION

Duke Energy

Texas Storm Uri Tort Litigation

Duke Energy and several Duke Energy renewables project companies have been named in multiple lawsuits arising out of Texas Storm Uri in mid-February 2021, and particularly, in the deregulated market managed by the Electric Reliability Council of Texas. There are 24 state court actions that have been filed in counties across Texas and one case is pending in federal court in Texas. These lawsuits seek recovery for property damages, personal injury and for wrongful death allegedly incurred by the plaintiffs as a result of power losses, which the plaintiffs claim was the result of the defendants' failure to take appropriate precautions. The cases pending in state court have been consolidated into a Texas state court multidistrict litigation proceeding before a single judge to handle all pretrial coordination. Duke Energy cannot predict the outcomes of these state and federal litigation matters.

Duke Energy Carolinas and Duke Energy Progress

Coal Ash Insurance Coverage Litigation

In March 2017, Duke Energy Carolinas and Duke Energy Progress filed a civil action in the North Carolina Business Court against various insurance providers. The lawsuit seeks payment for coal ash related liabilities covered by third-party liability insurance policies. The insurance policies were issued between 1971 and 1986 and provide third-party liability insurance for property damage. The civil action seeks damages for breach of contract and indemnification for costs arising from the Coal Ash Act and the U.S. Environmental Protection Agency CCR rule at 15 coal-fired plants in North Carolina and South Carolina. Following completion of fact discovery, the parties' fully briefed and argued motions relating to multiple key legal matters. All but two insurer-defendants have reached settlements with Duke Energy Carolinas and Duke Energy Progress in advance of any rulings on these motions. Any coal ash litigation proceeds from these settlements will be distributed in accordance with the terms of the CCR Settlement Agreement with the North Carolina Attorney General and other parties, executed on January 22, 2021. For more information on the CCR Settlement Agreement, see Note 3. On August 4, 2021, the Court issued a favorable ruling denying dispositive motions from the two remaining defendants. Trial with the remaining defendants remains scheduled for January 24, 2022. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter.

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FINANCIAL STATEMENTS COMMITMENTS AND CONTINGENCIES

Duke Energy Carolinas

NTE Carolinas II, LLC Litigation

In November 2017, Duke Energy Carolinas entered into a standard FERC large generator interconnection agreement (LGIA) with NTE Carolinas II, LLC (NTE), a company that proposed to build a combined-cycle natural gas plant in Rockingham County, North Carolina. On September 6, 2019, Duke Energy Carolinas filed a lawsuit in Mecklenburg County Superior Court against NTE for breach of contract, alleging that NTE's failure to pay benchmark payments for Duke Energy Carolinas' transmission system upgrades required under the interconnection agreement constituted a termination of the interconnection agreement. Duke Energy Carolinas is seeking a monetary judgment against NTE because NTE failed to make multiple milestone payments. The lawsuit was moved to federal court in North Carolina. NTE filed a motion to dismiss Duke Energy Carolinas’ complaint and brought counterclaims alleging anti-competitive conduct and violations of state and federal statutes. Duke Energy Carolinas filed a motion to dismiss NTE's counterclaims.

On May 21, 2020, in response to a NTE petition challenging Duke Energy Carolinas' termination of the LGIA, FERC issued a ruling that 1) it has exclusive jurisdiction to determine whether a transmission provider may terminate a LGIA; 2) FERC approval is required to terminate a conforming LGIA if objected to by the interconnection customer; and 3) Duke Energy may not announce the termination of a conforming LGIA unless FERC has approved the termination. FERC's Office of Enforcement also initiated an investigation of Duke Energy Carolinas into matters pertaining to the LGIA. Duke Energy Carolinas is cooperating with the Office of Enforcement but cannot predict the outcome of this investigation.

On August 17, 2020, the court denied both NTE’s and Duke Energy Carolinas’ Motion to Dismiss. The parties are in active discovery and trial is scheduled for June 20, 2022. Duke Energy Carolinas cannot predict the outcome of this matter.

Asbestos-related Injuries and Damages Claims

Duke Energy Carolinas has experienced numerous claims for indemnification and medical cost reimbursement related to asbestos exposure. These claims relate to damages for bodily injuries alleged to have arisen from exposure to or use of asbestos in connection with construction and maintenance activities conducted on its electric generation plants prior to 1985. As of June 30, 2021, there were 84 asserted claims for non-malignant cases with cumulative relief sought of up to $18 million, and 55 asserted claims for malignant cases with cumulative relief sought of up to $20 million. Based on Duke Energy Carolinas’ experience, it is expected that the ultimate resolution of most of these claims likely will be less than the amount claimed.

Duke Energy Carolinas has recognized asbestos-related reserves of $555 million at June 30, 2021, and $572 million at December 31, 2020. These reserves are classified in Other within Other Noncurrent Liabilities and Other within Current Liabilities on the Condensed Consolidated Balance Sheets. These reserves are based upon Duke Energy Carolinas' best estimate for current and future asbestos claims through 2040 and are recorded on an undiscounted basis. In light of the uncertainties inherent in a longer-term forecast, management does not believe they can reasonably estimate the indemnity and medical costs that might be incurred after 2040 related to such potential claims. It is possible Duke Energy Carolinas may incur asbestos liabilities in excess of the recorded reserves.

Duke Energy Carolinas has third-party insurance to cover certain losses related to asbestos-related injuries and damages above an aggregate self-insured retention. Duke Energy Carolinas’ cumulative payments began to exceed the self-insured retention in 2008. Future payments up to the policy limit will be reimbursed by the third-party insurance carrier. The insurance policy limit for potential future insurance recoveries indemnification and medical cost claim payments is $714 million in excess of the self-insured retention. Receivables for insurance recoveries were $704 million at June 30, 2021, and December 31, 2020. These amounts are classified in Other within Other Noncurrent Assets and Receivables within Current Assets on the Condensed Consolidated Balance Sheets. Duke Energy Carolinas is not aware of any uncertainties regarding the legal sufficiency of insurance claims. Duke Energy Carolinas believes the insurance recovery asset is probable of recovery as the insurance carrier continues to have a strong financial strength rating.

As described in Note 1, Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. The reserve for credit losses for insurance receivables based on adoption of the new standard is $15 million for Duke Energy and Duke Energy Carolinas as of June 30, 2021, and December 31, 2020. The insurance receivable is evaluated based on the risk of default and the historical losses, current conditions and expected conditions around collectability. Management evaluates the risk of default annually based on payment history, credit rating and changes in the risk of default from credit agencies.

Duke Energy Progress and Duke Energy Florida

Spent Nuclear Fuel Matters

On June 18, 2018, Duke Energy Progress and Duke Energy Florida sued the U.S. in the U.S. Court of Federal Claims for damages incurred for the period 2014 through 2018. The lawsuit claimed the Department of Energy breached a contract in failing to accept spent nuclear fuel under the Nuclear Waste Policy Act of 1982 and asserted damages for the cost of on-site storage in the amount of $100 million and $200 million for Duke Energy Progress and Duke Energy Florida, respectively. Discovery is ongoing and a trial is expected to occur in late 2021 or early 2022.

Duke Energy Florida

Power Purchase Dispute Arbitration

Duke Energy Florida, on behalf of its customers, entered into a PPA for the purchase of firm capacity and energy from a qualifying facility under the Public Utilities Regulatory Policies Act of 1978. Duke Energy Florida determined the qualifying facility did not perform in accordance with the PPA, and Duke Energy Florida terminated the PPA. The qualifying facility counterparty filed a confidential American Arbitration Association (AAA) arbitration demand, challenging the termination of the PPA and seeking damages.

The final arbitration hearing occurred during the week of December 7, 2020. An interim arbitral award was issued in March 2021, upholding Duke Energy Florida's positions on all issues and awarding the company termination costs. In May 2021, the final arbitral award was issued awarding Duke Energy Florida its claimed fees and costs.

58

FINANCIAL STATEMENTS COMMITMENTS AND CONTINGENCIES

Duke Energy Indiana

Coal Ash Basin Closure Plan Appeal

On January 27, 2020, Hoosier Environmental Council (HEC) filed a Petition for Administrative Review with the Indiana Office of Environmental Adjudication challenging the Indiana Department of Environmental Management’s December 10, 2019, partial approval of Duke Energy Indiana’s ash pond closure plan. After hearing oral arguments in early April 2021 on Duke Energy Indiana's and HEC's competing Motions for Summary Judgment, on May 4, 2021, the administrative court rejected all of HEC’s claims and issued a ruling in favor of Duke Energy Indiana. On June 3, 2021, HEC filed an appeal in Superior Court to seek judicial review of the order. Duke Energy Indiana cannot predict the outcome of this matter.

Other Litigation and Legal Proceedings

The Duke Energy Registrants are involved in other legal, tax and regulatory proceedings arising in the ordinary course of business, some of which involve significant amounts. The Duke Energy Registrants believe the final disposition of these proceedings will not have a material effect on their results of operations, cash flows or financial position.

The table below presents recorded reserves based on management’s best estimate of probable loss for legal matters, excluding asbestos-related reserves discussed above. Reserves are classified on the Condensed Consolidated Balance Sheets in Other within Other Noncurrent Liabilities and Other within Current Liabilities. The reasonably possible range of loss in excess of recorded reserves is not material, other than as described above.

(in millions)	June 30, 2021		December 31, 2020
Reserves for Legal Matters
Duke Energy	$	65	$	68
Duke Energy Carolinas	2		2
Progress Energy	58		61
Duke Energy Progress	12		13
Duke Energy Florida	26		28
Piedmont	1		1

OTHER COMMITMENTS AND CONTINGENCIES

General

As part of their normal business, the Duke Energy Registrants are party to various financial guarantees, performance guarantees and other contractual commitments to extend guarantees of credit and other assistance to various subsidiaries, investees and other third parties. These guarantees involve elements of performance and credit risk, which are not fully recognized on the Condensed Consolidated Balance Sheets and have uncapped maximum potential payments. However, the Duke Energy Registrants do not believe these guarantees will have a material effect on their results of operations, cash flows or financial position.

In addition, the Duke Energy Registrants enter into various fixed-price, noncancelable commitments to purchase or sell power or natural gas, take-or-pay arrangements, transportation, or throughput agreements and other contracts that may or may not be recognized on their respective Condensed Consolidated Balance Sheets. Some of these arrangements may be recognized at fair value on their respective Condensed Consolidated Balance Sheets if such contracts meet the definition of a derivative and the NPNS exception does not apply. In most cases, the Duke Energy Registrants’ purchase obligation contracts contain provisions for price adjustments, minimum purchase levels and other financial commitments.

59

FINANCIAL STATEMENTS DEBT AND CREDIT FACILITIES

5. DEBT AND CREDIT FACILITIES

SUMMARY OF SIGNIFICANT DEBT ISSUANCES

The following table summarizes significant debt issuances (in millions).

					Six Months Ended June 30, 2021
							Duke		Duke
	Maturity	Interest			Duke		Energy		Energy
Issuance Date	Date	Rate			Energy		(Parent)		Carolinas		Piedmont
Unsecured Debt
March 2021(a)	Mar 2031	2.500	%		$	350	$	—	$	—	$	350
June 2021(c)	Jun 2023	2.500	%	(b)	500		500		—		—
June 2021(c)	Jun 2031	2.550	%		1,000		1,000		—		—
June 2021(c)	Jun 2041	3.300	%		750		750		—		—
June 2021(c)	Jun 2051	3.500	%		750		750		—		—
First Mortgage Bonds
April 2021(d)	Apr 2031	2.550	%		550		—		550		—
April 2021(d)	Apr 2051	3.450	%		450		—		450		—
Total issuances					$	4,350	$	3,000	$	1,000	$	350

(a)Debt issued to repay at maturity $160 million senior unsecured notes due June 2021, pay down short-term debt and for general corporate purposes.

(b)Debt issuance has a floating interest rate.

(c)Debt issued to repay $1.75 billion of Duke Energy (Parent) 2021 debt maturities, to repay a portion of short-term debt and for general corporate purposes.

(d)Debt issued to repay at maturity $500 million first mortgage bonds due June 2021, pay down short-term debt and for general company purposes.

CURRENT MATURITIES OF LONG-TERM DEBT

The following table shows the significant components of Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.

(in millions)	Maturity Date	Interest Rate			June 30, 2021
Unsecured Debt
Duke Energy (Parent)(a)	August 2021	1.800	%		$	750
Duke Energy Florida	November 2021	0.391	%	(b)	200
Duke Energy Progress	February 2022	0.335	%	(b)	700
Duke Energy (Parent)	March 2022	3.227	%		300
Duke Energy (Parent)	March 2022	0.775	%	(b)	300
Progress Energy	April 2022	3.150	%		450
First Mortgage Bonds
Duke Energy Florida	August 2021	3.100	%		300
Duke Energy Progress	September 2021	3.000	%		500
Duke Energy Progress	September 2021	8.625	%		100
Duke Energy Indiana	January 2022	8.850	%		53
Duke Energy Carolinas	May 2022	3.350	%		350
Duke Energy Progress	May 2022	2.800	%		500
Other(c)					473
Current maturities of long-term debt					$	4,976

(a)    Debt was retired at par on August 1, 2021.

(b)    Debt has a floating interest rate.

(c)    Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.

60

FINANCIAL STATEMENTS DEBT AND CREDIT FACILITIES

AVAILABLE CREDIT FACILITIES

Master Credit Facility

In March 2021, Duke Energy amended its existing $8 billion Master Credit Facility to extend the termination date to March 2026. The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder.

The table below includes the current borrowing sublimits and available capacity under these credit facilities.

	June 30, 2021
			Duke		Duke		Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy		Energy		Energy
(in millions)	Energy		(Parent)		Carolinas		Progress		Florida		Ohio		Indiana		Piedmont
Facility size(a)	$	8,000	$	2,650	$	1,325	$	1,150	$	850	$	725	$	600	$	700
Reduction to backstop issuances
Commercial paper(b)	(2,747)		(549)		(767)		(418)		(360)		(411)		(150)		(92)
Outstanding letters of credit	(31)		(25)		(4)		(2)		—		—		—		—
Tax-exempt bonds	(81)		—		—		—		—		—		(81)		—
Available capacity under the Master Credit Facility	$	5,141	$	2,076	$	554	$	730	$	490	$	314	$	369	$	608

(a)Represents the sublimit of each borrower.

(b)Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies on the Condensed Consolidated Balance Sheets.

Other Credit Facilities

	June 30, 2021
(in millions)	Facility size		Amount drawn
Duke Energy (Parent) Three-Year Revolving Credit Facility(a)	$	1,000	$	500

(a)During March 2021, Duke Energy extended the maturity date of the Three-Year Revolving Credit Facility from May 2022 to May 2024.

6. GOODWILL

Duke Energy

The following table presents the goodwill by reportable segment included on Duke Energy's Condensed Consolidated Balance Sheets at June 30, 2021, and December 31, 2020.

	Electric Utilities		Gas Utilities		Commercial
(in millions)	and Infrastructure		and Infrastructure		Renewables		Total
Goodwill balance	$	17,379	$	1,924	$	122	$	19,425
Accumulated impairment charges	—		—		(122)		(122)
Goodwill, adjusted for accumulated impairment charges	$	17,379	$	1,924	$	—	$	19,303

Duke Energy Ohio

Duke Energy Ohio's Goodwill balance of $920 million, allocated $596 million to Electric Utilities and Infrastructure and $324 million to Gas Utilities and Infrastructure, is presented net of accumulated impairment charges of $216 million on the Condensed Consolidated Balance Sheets at June 30, 2021, and December 31, 2020.

Progress Energy

Progress Energy's Goodwill is included in the Electric Utilities and Infrastructure segment and there are no accumulated impairment charges.

Piedmont

Piedmont's Goodwill is included in the Gas Utilities and Infrastructure segment and there are no accumulated impairment charges.

61

FINANCIAL STATEMENTS RELATED PARTY TRANSACTIONS

7. RELATED PARTY TRANSACTIONS

The Subsidiary Registrants engage in related party transactions in accordance with applicable state and federal commission regulations. Refer to the Condensed Consolidated Balance Sheets of the Subsidiary Registrants for balances due to or due from related parties. Material amounts related to transactions with related parties included on the Condensed Consolidated Statements of Operations and Comprehensive Income are presented in the following table.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Duke Energy Carolinas
Corporate governance and shared service expenses(a)	$	243	$	196	$	446	$	330
Indemnification coverages(b)	6		5		12		10
Joint Dispatch Agreement (JDA) revenue(c)	13		3		26		10
JDA expense(c)	25		20		65		44
Intercompany natural gas purchases(d)	15		10		29		16
Progress Energy
Corporate governance and shared service expenses(a)	$	233	$	189	$	414	$	335
Indemnification coverages(b)	11		9		21		18
JDA revenue(c)	25		20		65		44
JDA expense(c)	13		3		26		10
Intercompany natural gas purchases(d)	18		19		37		38
Duke Energy Progress
Corporate governance and shared service expenses(a)	$	141	$	113	$	246	$	188
Indemnification coverages(b)	5		5		10		9
JDA revenue(c)	25		20		65		44
JDA expense(c)	13		3		26		10
Intercompany natural gas purchases(d)	18		19		37		38
Duke Energy Florida
Corporate governance and shared service expenses(a)	$	92	$	76	$	168	$	147
Indemnification coverages(b)	6		4		11		9
Duke Energy Ohio
Corporate governance and shared service expenses(a)	$	79	$	77	$	158	$	161
Indemnification coverages(b)	1		1		2		2
Duke Energy Indiana
Corporate governance and shared service expenses(a)	$	93	$	92	$	206	$	198
Indemnification coverages(b)	2		2		4		4
Piedmont
Corporate governance and shared service expenses(a)	$	36	$	37	$	69	$	71
Indemnification coverages(b)	1		—		2		1
Intercompany natural gas sales(d)	33		29		66		54
Natural gas storage and transportation costs(e)	5		6		11		12

(a)    The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other and Impairment of assets and other charges on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(b)    The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(c)    Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(d)    Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Condensed Consolidated Statements of Operations and Comprehensive Income.

(e)    Piedmont has related party transactions as a customer of its equity method investments in Pine Needle LNG Company, LLC, Hardy Storage Company, LLC and Cardinal Pipeline Company, LLC natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Condensed Consolidated Statements of Operations and Comprehensive Income.

62

FINANCIAL STATEMENTS RELATED PARTY TRANSACTIONS

In addition to the amounts presented above, the Subsidiary Registrants have other affiliate transactions, including rental of office space, participation in a money pool arrangement, other operational transactions, such as pipeline lease arrangements, and their proportionate share of certain charged expenses. These transactions of the Subsidiary Registrants are incurred in the ordinary course of business and are eliminated in consolidation.

As discussed in Note 11, certain trade receivables have been sold by Duke Energy Ohio and Duke Energy Indiana to CRC, an affiliate formed by a subsidiary of Duke Energy. The proceeds obtained from the sales of receivables are largely cash but do include a subordinated note from CRC for a portion of the purchase price.

Intercompany Income Taxes

Duke Energy and the Subsidiary Registrants file a consolidated federal income tax return and other state and jurisdictional returns. The Subsidiary Registrants have a tax sharing agreement with Duke Energy for the allocation of consolidated tax liabilities and benefits. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.

	Duke				Duke		Duke		Duke		Duke
	Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
June 30, 2021
Intercompany income tax receivable	$	—	$	74	$	—	$	1	$	—	$	—	$	22
Intercompany income tax payable	36		—		4		—		6		7		—
December 31, 2020
Intercompany income tax receivable	$	—	$	—	$	—	$	—	$	—	$	9	$	10
Intercompany income tax payable	31		33		46		35		2		—		—

8. DERIVATIVES AND HEDGING

The Duke Energy Registrants use commodity and interest rate contracts to manage commodity price risk and interest rate risk. The primary use of commodity derivatives is to hedge the generation portfolio against changes in the prices of electricity and natural gas. Piedmont enters into natural gas supply contracts to provide diversification, reliability and natural gas cost benefits to its customers. Interest rate derivatives are used to manage interest rate risk associated with borrowings.

All derivative instruments not identified as NPNS are recorded at fair value as assets or liabilities on the Condensed Consolidated Balance Sheets. Cash collateral related to derivative instruments executed under master netting arrangements is offset against the collateralized derivatives on the Condensed Consolidated Balance Sheets. The cash impacts of settled derivatives are recorded as operating activities on the Condensed Consolidated Statements of Cash Flows.

INTEREST RATE RISK

The Duke Energy Registrants are exposed to changes in interest rates as a result of their issuance or anticipated issuance of variable-rate and fixed-rate debt and commercial paper. Interest rate risk is managed by limiting variable-rate exposures to a percentage of total debt and by monitoring changes in interest rates. To manage risk associated with changes in interest rates, the Duke Energy Registrants may enter into interest rate swaps, U.S. Treasury lock agreements and other financial contracts. In anticipation of certain fixed-rate debt issuances, a series of forward-starting interest rate swaps or Treasury locks may be executed to lock in components of current market interest rates. These instruments are later terminated prior to or upon the issuance of the corresponding debt.

Cash Flow Hedges

For a derivative designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. Gains and losses reclassified out of accumulated other comprehensive loss for the three and six months ended June 30, 2021, and 2020, were not material. Duke Energy's interest rate derivatives designated as hedges include interest rate swaps used to hedge existing debt within the Commercial Renewables segment and forward-starting interest rate swaps not accounted for under regulatory accounting.

Undesignated Contracts

Undesignated contracts primarily include contracts not designated as a hedge because they are accounted for under regulatory accounting or contracts that do not qualify for hedge accounting.

Duke Energy’s interest rate swaps for its regulated operations employ regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the swaps are deferred as regulatory liabilities or regulatory assets, respectively. Regulatory assets and liabilities are amortized consistent with the treatment of the related costs in the ratemaking process. The accrual of interest on the swaps is recorded as Interest Expense on the Duke Energy Registrant's Condensed Consolidated Statements of Operations and Comprehensive Income.

63

FINANCIAL STATEMENTS DERIVATIVES AND HEDGING

The following table shows notional amounts of outstanding derivatives related to interest rate risk.

	June 30, 2021
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio
Cash flow hedges	$	1,344	$	—	$	—	$	—	$	—	$	—
Undesignated contracts	1,681		350		1,250		750		500		27
Total notional amount(a)	$	3,025	$	350	$	1,250	$	750	$	500	$	27

	December 31, 2020
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio
Cash flow hedges	$	632	$	—	$	—	$	—	$	—	$	—
Undesignated contracts	1,177		400		750		750		—		27
Total notional amount(a)	$	1,809	$	400	$	750	$	750	$	—	$	27

(a)    Duke Energy includes amounts related to consolidated VIEs of $594 million in cash flow hedges and $54 million in undesignated contracts as of June 30, 2021, and $632 million in cash flow hedges as of December 31, 2020.

COMMODITY PRICE RISK

The Duke Energy Registrants are exposed to the impact of changes in the prices of electricity purchased and sold in bulk power markets and natural gas purchases, including Piedmont's natural gas supply contracts. Exposure to commodity price risk is influenced by a number of factors including the term of contracts, the liquidity of markets and delivery locations. To manage risk associated with commodity prices, the Duke Energy Registrants may enter into long-term power purchase or sales contracts and long-term natural gas supply agreements.

Cash Flow Hedges

For derivatives designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Gains and losses reclassified out of accumulated other comprehensive loss for the three and six months ended June 30, 2021, and 2020, were not material. Duke Energy’s commodity derivatives designated as hedges include long-term electricity sales in the Commercial Renewables segment.

Undesignated Contracts

For the Subsidiary Registrants, bulk power electricity and natural gas purchases flow through fuel adjustment clauses, formula-based contracts or other cost-sharing mechanisms. Differences between the costs included in rates and the incurred costs, including undesignated derivative contracts, are largely deferred as regulatory assets or regulatory liabilities. Piedmont policies allow for the use of financial instruments to hedge commodity price risks. The strategy and objective of these hedging programs are to use the financial instruments to reduce natural gas costs volatility for customers.

Volumes

The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.

	June 30, 2021
		Duke		Duke	Duke	Duke
	Duke	Energy	Progress	Energy	Energy	Energy
	Energy	Carolinas	Energy	Progress	Ohio	Indiana	Piedmont
Electricity (GWh)(a)	34,427	—	—	—	3,727	20,273	—
Natural gas (millions of dekatherms)	744	206	180	180	—	4	354

64

FINANCIAL STATEMENTS DERIVATIVES AND HEDGING

	December 31, 2020
		Duke		Duke	Duke	Duke
	Duke	Energy	Progress	Energy	Energy	Energy
	Energy	Carolinas	Energy	Progress	Ohio	Indiana	Piedmont
Electricity (GWh)(a)	35,409	—	—	—	2,559	10,802	—
Natural gas (millions of dekatherms)	678	145	158	158	—	2	373

(a)    Duke Energy includes 10,427 GWh and 22,048 GWh related to cash flow hedges as of June 30, 2021, and December 31, 2020, respectively.

LOCATION AND FAIR VALUE OF DERIVATIVE ASSETS AND LIABILITIES RECOGNIZED ON THE CONDENSED CONSOLIDATED BALANCE SHEETS

The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Condensed Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.

Derivative Assets	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current	$	163	$	69	$	65	$	54	$	10	$	3	$	24	$	2
Noncurrent	67		38		29		30		—		—		—		—
Total Derivative Assets – Commodity Contracts	$	230	$	107	$	94	$	84	$	10	$	3	$	24	$	2
Interest Rate Contracts
Not Designated as Hedging Instruments
Current	$	52	$	—	$	48	$	48	$	—	$	—	$	—	$	—
Total Derivative Assets – Interest Rate Contracts	$	52	$	—	$	48	$	48	$	—	$	—	$	—	$	—
Total Derivative Assets	$	282	$	107	$	142	$	132	$	10	$	3	$	24	$	2

Derivative Liabilities	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Designated as Hedging Instruments
Current	$	29	$	—	$	—	$	—	$	—	$	—	$	—	—
Noncurrent	127		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	$	27	$	—	$	—	$	—	$	—	$	—	$	—	$	26
Noncurrent	139		—		4		4		—		—		—		135
Total Derivative Liabilities – Commodity Contracts	$	322	$	—	$	4	$	4	$	—	$	—	$	—	$	161
Interest Rate Contracts
Designated as Hedging Instruments
Current	$	14	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	62		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	21		7		13		—		13		1		—		—
Noncurrent	4		—		—		—		—		4		—		—
Total Derivative Liabilities – Interest Rate Contracts	$	101	$	7	$	13	$	—	$	13	$	5	$	—	$	—
Total Derivative Liabilities	$	423	$	7	$	17	$	4	$	13	$	5	$	—	$	161

65

FINANCIAL STATEMENTS DERIVATIVES AND HEDGING

Derivative Assets	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current	$	30	$	14	$	9	$	9	$	—	$	1	$	6	$	1
Noncurrent	13		6		6		6		—		—		—		—
Total Derivative Assets – Commodity Contracts	$	43	$	20	$	15	$	15	$	—	$	1	$	6	$	1
Interest Rate Contracts
Not Designated as Hedging Instruments
Current	$	18	$	—	$	18	$	18	$	—	$	—	$	—	$	—
Total Derivative Assets – Interest Rate Contracts	$	18	$	—	$	18	$	18	$	—	$	—	$	—	$	—
Total Derivative Assets	$	61	$	20	$	33	$	33	$	—	$	1	$	6	$	1

Derivative Liabilities	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Designated as Hedging Instruments
Current	$	14	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	70		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	$	30	$	13	$	2	$	2	$	—	$	—	$	1	$	15
Noncurrent	137		3		27		12		—		—		—		107
Total Derivative Liabilities – Commodity Contracts	$	251	$	16	$	29	$	14	$	—	$	—	$	1	$	122
Interest Rate Contracts
Designated as Hedging Instruments
Current	$	15	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	48		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	5		4		—		—		—		1		—		—
Noncurrent	5		—		—		—		—		5		—		—
Total Derivative Liabilities – Interest Rate Contracts	$	73	$	4	$	—	$	—	$	—	$	6	$	—	$	—
Total Derivative Liabilities	$	324	$	20	$	29	$	14	$	—	$	6	$	1	$	122

66

FINANCIAL STATEMENTS DERIVATIVES AND HEDGING

OFFSETTING ASSETS AND LIABILITIES

The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.

Derivative Assets	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	215	$	69	$	113	$	102	$	10	$	3	$	24	$	2
Gross amounts offset	(3)		(3)		—		—		—		—		—		—
Net amounts presented in Current Assets: Other	$	212	$	66	$	113	$	102	$	10	$	3	$	24	$	2
Noncurrent
Gross amounts recognized	$	67	$	38	$	29	$	30	$	—	$	—	$	—	$	—
Gross amounts offset	(6)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Assets: Other	$	61	$	37	$	25	$	26	$	—	$	—	$	—	$	—

Derivative Liabilities	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	91	$	7	$	13	$	—	$	13	$	1	$	—	$	26
Gross amounts offset	—		—		—		—		—		—		—		—
Net amounts presented in Current Liabilities: Other	$	91	$	7	$	13	$	—	$	13	$	1	$	—	$	26
Noncurrent
Gross amounts recognized	$	332	$	—	$	4	$	4	$	—	$	4	$	—	$	135
Gross amounts offset	(4)		—		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Liabilities: Other	$	328	$	—	$	—	$	—	$	—	$	4	$	—	$	135

Derivative Assets	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	48	$	14	$	27	$	27	$	—	$	1	$	6	$	1
Gross amounts offset	(3)		(2)		(2)		(2)		—		—		—		—
Net amounts presented in Current Assets: Other	$	45	$	12	$	25	$	25	$	—	$	1	$	6	$	1
Noncurrent
Gross amounts recognized	$	13	$	6	$	6	$	6	$	—	$	—	$	—	$	—
Gross amounts offset	(5)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Assets: Other	$	8	$	5	$	2	$	2	$	—	$	—	$	—	$	—

67

FINANCIAL STATEMENTS DERIVATIVES AND HEDGING

Derivative Liabilities	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	64	$	17	$	2	$	2	$	—	$	1	$	1	$	15
Gross amounts offset	(3)		(2)		(2)		(2)		—		—		—		—
Net amounts presented in Current Liabilities: Other	$	61	$	15	$	—	$	—	$	—	$	1	$	1	$	15
Noncurrent
Gross amounts recognized	$	260	$	3	$	27	$	12	$	—	$	5	$	—	$	107
Gross amounts offset	(5)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Liabilities: Other	$	255	$	2	$	23	$	8	$	—	$	5	$	—	$	107

9. INVESTMENTS IN DEBT AND EQUITY SECURITIES

Duke Energy’s investments in debt and equity securities are primarily comprised of investments held in (i) the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, (ii) the grantor trusts at Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana related to OPEB plans and (iii) Bison. The Duke Energy Registrants classify investments in debt securities as AFS and investments in equity securities as fair value through net income (FV-NI).

For investments in debt securities classified as AFS, the unrealized gains and losses are included in other comprehensive income until realized, at which time they are reported through net income. For investments in equity securities classified as FV-NI, both realized and unrealized gains and losses are reported through net income. Substantially all of Duke Energy’s investments in debt and equity securities qualify for regulatory accounting, and accordingly, all associated realized and unrealized gains and losses on these investments are deferred as a regulatory asset or liability.

Duke Energy classifies the majority of investments in debt and equity securities as long term, unless otherwise noted.

Investment Trusts

The investments within the Investment Trusts are managed by independent investment managers with discretion to buy, sell and invest pursuant to the objectives set forth by the investment manager agreements and trust agreements. The Duke Energy Registrants have limited oversight of the day-to-day management of these investments. As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt securities within the Investment Trusts are recognized immediately and deferred to regulatory accounts where appropriate.

Other AFS Securities

Unrealized gains and losses on all other AFS securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment has a credit loss. The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value is related to a credit loss. If a credit loss exists, the unrealized credit loss is included in earnings. There were no material credit losses as of June 30, 2021, and December 31, 2020.

Other Investments amounts are recorded in Other within Other Noncurrent Assets on the Condensed Consolidated Balance Sheets.

68

FINANCIAL STATEMENTS INVESTMENTS IN DEBT AND EQUITY SECURITIES

DUKE ENERGY

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	153	$	—	$	—	$	177
Equity securities	4,710		31		6,743		4,138		54		6,235
Corporate debt securities	51		3		861		76		1		806
Municipal bonds	17		—		298		22		—		370
U.S. government bonds	36		8		1,665		51		—		1,361
Other debt securities	6		—		188		8		—		180
Total NDTF Investments	$	4,820	$	42	$	9,908	$	4,295	$	55	$	9,129
Other Investments
Cash and cash equivalents	$	—	$	—	$	83	$	—	$	—	$	127
Equity securities	98		—		166		79		—		146
Corporate debt securities	4		—		118		8		—		110
Municipal bonds	4		1		69		5		—		86
U.S. government bonds	1		—		66		—		—		42
Other debt securities	—		—		31		—		—		47
Total Other Investments	$	107	$	1	$	533	$	92	$	—	$	558
Total Investments	$	4,927	$	43	$	10,441	$	4,387	$	55	$	9,687

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	146	$	302	$	286	$	325
Realized losses	37		67		60		132
AFS:
Realized gains	16		27		34		47
Realized losses	18		13		31		19

DUKE ENERGY CAROLINAS

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	68	$	—	$	—	$	30
Equity securities	2,729		14		3,910		2,442		23		3,685
Corporate debt securities	32		2		495		49		1		510
Municipal bonds	2		—		21		6		—		91
U.S. government bonds	19		3		770		25		—		475
Other debt securities	5		—		182		7		—		174
Total NDTF Investments	$	2,787	$	19	$	5,446	$	2,529	$	24	$	4,965

69

FINANCIAL STATEMENTS INVESTMENTS IN DEBT AND EQUITY SECURITIES

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	90	$	27	$	218	$	36
Realized losses	23		25		39		70
AFS:
Realized gains	12		18		25		30
Realized losses	13		8		22		13

PROGRESS ENERGY

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	85	$	—	$	—	$	147
Equity securities	1,981		17		2,833		1,696		31		2,550
Corporate debt securities	19		1		366		27		—		296
Municipal bonds	15		—		277		16		—		279
U.S. government bonds	17		5		895		26		—		886
Other debt securities	1		—		6		1		—		6
Total NDTF Investments	$	2,033	$	23	$	4,462	$	1,766	$	31	$	4,164
Other Investments
Cash and cash equivalents	$	—	$	—	$	4	$	—	$	—	$	106
Municipal bonds	3		—		27		3		—		26
Total Other Investments	$	3	$	—	$	31	$	3	$	—	$	132
Total Investments	$	2,036	$	23	$	4,493	$	1,769	$	31	$	4,296

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	56	$	275	$	68	$	289
Realized losses	14		42		21		62
AFS:
Realized gains	3		6		7		11
Realized losses	3		4		6		5

70

FINANCIAL STATEMENTS INVESTMENTS IN DEBT AND EQUITY SECURITIES

DUKE ENERGY PROGRESS

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	73	$	—	$	—	$	76
Equity securities	1,888		17		2,730		1,617		31		2,459
Corporate debt securities	19		1		299		27		—		296
Municipal bonds	15		—		277		16		—		279
U.S. government bonds	17		2		479		26		—		412
Other debt securities	1		—		6		1		—		6
Total NDTF Investments	$	1,940	$	20	$	3,864	$	1,687	$	31	$	3,528
Other Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Total Other Investments	$	—	$	—	$	1	$	—	$	—	$	1
Total Investments	$	1,940	$	20	$	3,865	$	1,687	$	31	$	3,529

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	55	$	26	$	67	$	40
Realized losses	13		27		20		47
AFS:
Realized gains	3		6		7		11
Realized losses	3		4		6		5

DUKE ENERGY FLORIDA

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	12	$	—	$	—	$	71
Equity securities	93		—		103		79		—		91
Corporate debt securities	—		—		67		—		—		—
U.S. government bonds	—		3		416		—		—		474
Total NDTF Investments(a)	$	93	$	3	$	598	$	79	$	—	$	636
Other Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Municipal bonds	3		—		27		3		—		26
Total Other Investments	$	3	$	—	$	28	$	3	$	—	$	27
Total Investments	$	96	$	3	$	626	$	82	$	—	$	663

(a)During the six months ended June 30, 2021, and the year ended December 31, 2020, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.

71

FINANCIAL STATEMENTS INVESTMENTS IN DEBT AND EQUITY SECURITIES

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI for the three and six months ended June 30, 2021, and 2020, were as follows:

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	1	$	249	$	1	$	249
Realized losses	1		15		1		15

Realized gains and losses, which were determined on a specific identification basis, from sales of AFS securities for the three and six months ended June 30, 2021, and 2020, were immaterial.

DUKE ENERGY INDIANA

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Equity securities	70		—		110		58		—		97
Corporate debt securities	—		—		4		—		—		3
Municipal bonds	1		1		35		1		—		38
U.S. government bonds	—		—		6		—		—		4
Total Investments	$	71	$	1	$	156	$	59	$	—	$	143

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were immaterial.

DEBT SECURITY MATURITIES

The table below summarizes the maturity date for debt securities.

	June 30, 2021
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Indiana
Due in one year or less	$	162	$	10	$	112	$	16	$	96	$	4
Due after one through five years	1,022		385		578		262		316		18
Due after five through 10 years	683		301		302		243		59		8
Due after 10 years	1,429		772		579		540		39		15
Total	$	3,296	$	1,468	$	1,571	$	1,061	$	510	$	45

10. FAIR VALUE MEASUREMENTS

Fair value is the exchange price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value definition focuses on an exit price versus the acquisition cost. Fair value measurements use market data or assumptions market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs may be readily observable, corroborated by market data or generally unobservable. Valuation techniques maximize the use of observable inputs and minimize use of unobservable inputs. A midmarket pricing convention (the midpoint price between bid and ask prices) is permitted for use as a practical expedient.

Fair value measurements are classified in three levels based on the fair value hierarchy as defined by GAAP. Certain investments are not categorized within the fair value hierarchy. These investments are measured at fair value using the net asset value (NAV) per share practical expedient. The NAV is derived based on the investment cost, less any impairment, plus or minus changes resulting from observable price changes for an identical or similar investment of the same issuer.

Fair value accounting guidance permits entities to elect to measure certain financial instruments that are not required to be accounted for at fair value, such as equity method investments or the company’s own debt, at fair value. The Duke Energy Registrants have not elected to record any of these items at fair value.

72

FINANCIAL STATEMENTS FAIR VALUE MEASUREMENTS

Valuation methods of the primary fair value measurements disclosed below are as follows.

Investments in equity securities

The majority of investments in equity securities are valued using Level 1 measurements. Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the quarter. Principal active markets for equity prices include published exchanges such as the New York Stock Exchange and Nasdaq Stock Market. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. There was no after-hours market activity that was required to be reflected in the reported fair value measurements.

Investments in debt securities

Most investments in debt securities are valued using Level 2 measurements because the valuations use interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. If the market for a particular fixed-income security is relatively inactive or illiquid, the measurement is Level 3.

Commodity derivatives

Commodity derivatives with clearinghouses are classified as Level 1. Commodity derivatives with observable forward curves are classified as Level 2. If forward price curves are not observable for the full term of the contract and the unobservable period had more than an insignificant impact on the valuation, the commodity derivative is classified as Level 3. In isolation, increases (decreases) in natural gas forward prices result in favorable (unfavorable) fair value adjustments for natural gas purchase contracts; and increases (decreases) in electricity forward prices result in unfavorable (favorable) fair value adjustments for electricity sales contracts. Duke Energy regularly evaluates and validates pricing inputs used to estimate the fair value of natural gas commodity contracts by a market participant price verification procedure. This procedure provides a comparison of internal forward commodity curves to market participant generated curves.

Interest rate derivatives

Most over-the-counter interest rate contract derivatives are valued using financial models that utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward interest rate curves, notional amounts, interest rates and credit quality of the counterparties.

Other fair value considerations

See Note 11 in Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2020, for a discussion of the valuation of goodwill and intangible assets.

DUKE ENERGY

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 8. See Note 9 for additional information related to investments by major security type for the Duke Energy Registrants.

	June 30, 2021
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Not Categorized
NDTF cash and cash equivalents	$	153	$	153	$	—	$	—	$	—
NDTF equity securities	6,743		6,695		—		—		48
NDTF debt securities	3,012		1,066		1,946		—		—
Other equity securities	166		166		—		—		—
Other debt securities	284		60		224		—		—
Other cash and cash equivalents	83		83		—		—		—
Derivative assets	282		4		253		25		—
Total assets	10,723		8,227		2,423		25		48
Derivative liabilities	(423)		—		(267)		(156)		—
Net assets (liabilities)	$	10,300	$	8,227	$	2,156	$	(131)	$	48

73

FINANCIAL STATEMENTS FAIR VALUE MEASUREMENTS

	December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Not Categorized
NDTF cash and cash equivalents	$	177	$	177	$	—	$	—	$	—
NDTF equity securities	6,235		6,189		—		—		46
NDTF debt securities	2,717		874		1,843		—		—
Other equity securities	146		146		—		—		—
Other debt securities	285		37		248		—		—
Other cash and cash equivalents	127		127		—		—		—
Derivative assets	61		1		53		7		—
Total assets	9,748		7,551		2,144		7		46
Derivative liabilities	(324)		—		(240)		(84)		—
Net assets (liabilities)	$	9,424	$	7,551	$	1,904	$	(77)	$	46

The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.

	Derivatives (net)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	(126)	$	(88)	$	(77)	$	(102)
Total pretax realized or unrealized losses included in comprehensive income	(31)		—		(75)		—
Purchases, sales, issuances and settlements:
Purchases	21		14		21		14
Settlements	(1)		(6)		(8)		(15)
Total gains (losses) included on the Condensed Consolidated Balance Sheet	6		(12)		8		11
Balance at end of period	$	(131)	$	(92)	$	(131)	$	(92)

DUKE ENERGY CAROLINAS

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021
(in millions)	Total Fair Value		Level 1		Level 2		Not Categorized
NDTF cash and cash equivalents	$	68	$	68	$	—	$	—
NDTF equity securities	3,910		3,862		—		48
NDTF debt securities	1,468		408		1,060		—
Derivative assets	107		—		107		—
Total assets	5,553		4,338		1,167		48
Derivative liabilities	(7)		—		(7)		—
Net assets	$	5,546	$	4,338	$	1,160	$	48

	December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Not Categorized
NDTF cash and cash equivalents	$	30	$	30	$	—	$	—
NDTF equity securities	3,685		3,639		—		46
NDTF debt securities	1,250		192		1,058		—
Derivative assets	20		—		20		—
Total assets	4,985		3,861		1,078		46
Derivative liabilities	(20)		—		(20)		—
Net assets	$	4,965	$	3,861	$	1,058	$	46

74

FINANCIAL STATEMENTS FAIR VALUE MEASUREMENTS

PROGRESS ENERGY

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	85	$	85	$	—	$	147	$	147	$	—
NDTF equity securities	2,833		2,833		—		2,550		2,550		—
NDTF debt securities	1,544		658		886		1,467		682		785
Other debt securities	27		—		27		26		—		26
Other cash and cash equivalents	4		4		—		106		106		—
Derivative assets	142		—		142		33		—		33
Total assets	4,635		3,580		1,055		4,329		3,485		844
Derivative liabilities	(17)		—		(17)		(29)		—		(29)
Net assets	$	4,618	$	3,580	$	1,038	$	4,300	$	3,485	$	815

DUKE ENERGY PROGRESS

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	73	$	73	$	—	$	76	$	76	$	—
NDTF equity securities	2,730		2,730		—		2,459		2,459		—
NDTF debt securities	1,061		269		792		993		237		756
Other cash and cash equivalents	1		1		—		1		1		—
Derivative assets	132		—		132		33		—		33
Total assets	3,997		3,073		924		3,562		2,773		789
Derivative liabilities	(4)		—		(4)		(14)		—		(14)
Net assets	$	3,993	$	3,073	$	920	$	3,548	$	2,773	$	775

DUKE ENERGY FLORIDA

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	12	$	12	$	—	$	71	$	71	$	—
NDTF equity securities	103		103		—		91		91		—
NDTF debt securities	483		389		94		474		445		29
Other debt securities	27		—		27		26		—		26
Other cash and cash equivalents	1		1		—		1		1		—
Derivative assets	10		—		10		—		—		—
Total assets	636		505		131		663		608		55
Derivative liabilities	(13)		—		(13)		—		—		—
Net assets	$	623	$	505	$	118	$	663	$	608	$	55

DUKE ENERGY OHIO

The recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets were not material at June 30, 2021, and December 31, 2020.

75

FINANCIAL STATEMENTS FAIR VALUE MEASUREMENTS

DUKE ENERGY INDIANA

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021								December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3
Other equity securities	$	110	$	110	$	—	$	—	$	97	$	97	$	—	$	—
Other debt securities	45		—		45		—		45		—		45		—
Other cash and cash equivalents	1		1		—		—		1		1		—		—
Derivative assets	24		2		—		22		6		—		—		6
Total assets	180		113		45		22		149		98		45		6
Derivative liabilities	—		—		—		—		(1)		(1)		—		—
Net assets	$	180	$	113	$	45	$	22	$	148	$	97	$	45	$	6

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)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	2	$	2	$	6	$	11
Purchases, sales, issuances and settlements:
Purchases	18		10		18		10
Settlements	(3)		(4)		(9)		(10)
Total gains (losses) included on the Condensed Consolidated Balance Sheet	5		2		7		(1)
Balance at end of period	$	22	$	10	$	22	$	10

PIEDMONT

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
Derivative assets	$	2	$	2	$	—	$	1	$	1	$	—
Derivative liabilities	(161)		—		(161)		(122)		—		(122)
Net (liabilities) assets	$	(159)	$	2	$	(161)	$	(121)	$	1	$	(122)

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)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	—	$	(91)	$	—	$	(117)
Total (losses) gains and settlements	—		(14)		—		12
Balance at end of period	$	—	$	(105)	$	—	$	(105)

76

FINANCIAL STATEMENTS FAIR VALUE MEASUREMENTS

QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS

The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.

	June 30, 2021
										Weighted
	Fair Value									Average
Investment Type	(in millions)		Valuation Technique	Unobservable Input	Range					Range
Duke Energy
Electricity contracts	$	(156)	RTO forward pricing	Forward electricity curves – price per MWh	$	16.82	-	$	174.84	$	37.87
Duke Energy Ohio
FTRs	3		RTO auction pricing	FTR price – per MWh	0		-	1.65		0.88
Duke Energy Indiana
FTRs	22		RTO auction pricing	FTR price – per MWh	(2.07)		-	7.38		1.12
Duke Energy
Total Level 3 derivatives	$	(131)

	December 31, 2020
									Weighted
	Fair Value								Average
Investment Type	(in millions)		Valuation Technique	Unobservable Input	Range				Range
Duke Energy
Electricity contracts	$	(84)	Discounted cash flow	Forward electricity curves – price per MWh	$	14.68	-	$151.84	$28.84
Duke Energy Ohio
FTRs	1		RTO auction pricing	FTR price – per MWh	0.25		-	1.68	0.79
Duke Energy Indiana
FTRs	6		RTO auction pricing	FTR price – per MWh	(2.40)		-	7.41	1.05
Duke Energy
Total Level 3 derivatives	$	(77)

OTHER FAIR VALUE DISCLOSURES

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.

	June 30, 2021				December 31, 2020
(in millions)	Book Value		Fair Value		Book Value		Fair Value
Duke Energy(a)	$	62,386	$	69,222	$	59,863	$	69,292
Duke Energy Carolinas	12,906		15,011		12,218		14,917
Progress Energy	19,250		22,502		19,264		23,470
Duke Energy Progress	9,277		10,405		9,258		10,862
Duke Energy Florida	7,881		9,338		7,915		9,756
Duke Energy Ohio	3,091		3,531		3,089		3,650
Duke Energy Indiana	4,092		4,929		4,091		5,204
Piedmont	2,967		3,337		2,780		3,306

(a)    Book value of long-term debt includes $1.3 billion at June 30, 2021, and December 31, 2020, of net unamortized debt discount and premium of purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.

At both June 30, 2021, and December 31, 2020, fair value of cash and cash equivalents, accounts and notes receivable, accounts payable, notes payable and commercial paper and nonrecourse notes payable of VIEs are not materially different from their carrying amounts because of the short-term nature of these instruments and/or because the stated rates approximate market rates.

11. VARIABLE INTEREST ENTITIES

CONSOLIDATED VIEs

The obligations of the consolidated VIEs discussed in the following paragraphs are nonrecourse to the Duke Energy Registrants. The registrants have no requirement to provide liquidity to, purchase assets of or guarantee performance of these VIEs unless noted in the following paragraphs.

77

FINANCIAL STATEMENTS VARIABLE INTEREST ENTITIES

No financial support was provided to any of the consolidated VIEs during the six months ended June 30, 2021, and the year ended December 31, 2020, or is expected to be provided in the future that was not previously contractually required.

Receivables Financing – DERF/DEPR/DEFR

DERF, DEPR and DEFR are bankruptcy remote, special purpose subsidiaries of Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, respectively. DERF, DEPR and DEFR are wholly owned LLCs with separate legal existence from their parent companies, and their assets are not generally available to creditors of their parent companies. On a revolving basis, DERF, DEPR and DEFR buy certain accounts receivable arising from the sale of electricity and related services from their parent companies.

DERF, DEPR and DEFR borrow amounts under credit facilities to buy these receivables. Borrowing availability from the credit facilities is limited to the amount of qualified receivables purchased, which generally exclude receivables past due more than a predetermined number of days and reserves for expected past-due balances. The sole source of funds to satisfy the related debt obligations is cash collections from the receivables. Amounts borrowed under the credit facilities for DERF and DEPR are reflected on the Condensed Consolidated Balance Sheets as Long-Term Debt. Amounts borrowed under the credit facilities for DEFR are reflected on the Condensed Consolidated Balance Sheets as Current maturities of long-term debt.

The most significant activity that impacts the economic performance of DERF, DEPR and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are considered the primary beneficiaries and consolidate DERF, DEPR and DEFR, respectively, as they make those decisions.

Receivables Financing – CRC

CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC borrows amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. Borrowing availability from the credit facility is limited to the amount of qualified receivables sold to CRC, which generally exclude receivables past due more than a predetermined number of days and reserves for expected past-due balances. The sole source of funds to satisfy the related debt obligation is cash collections from the receivables. Amounts borrowed under the credit facility are reflected on Duke Energy's Condensed Consolidated Balance Sheets as Long-Term Debt.

The proceeds Duke Energy Ohio and Duke Energy Indiana receive from the sale of receivables to CRC are approximately 75% cash and 25% in the form of a subordinated note from CRC. The subordinated note is a retained interest in the receivables sold. Depending on collection experience, additional equity infusions to CRC may be required by Duke Energy to maintain a minimum equity balance of $3 million.

CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the activities that most significantly impact the economic performance of the entity is not held by the equity holder and (iii) deficiencies in net worth of CRC are funded by Duke Energy. The most significant activities that impact the economic performance of CRC are decisions made to manage delinquent receivables. Duke Energy is considered the primary beneficiary and consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC.

Receivables Financing – Credit Facilities

The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.

	Duke Energy
			Duke Energy		Duke Energy		Duke Energy
			Carolinas		Progress		Florida
(in millions)	CRC		DERF		DEPR		DEFR
Expiration date	February 2023		December 2022		April 2023		April 2023
Credit facility amount	$	350	$	475	$	350	$	250
Amounts borrowed at June 30, 2021	332		475		269		250
Amounts borrowed at December 31, 2020	350		364		250		250
Restricted Receivables at June 30, 2021	527		769		473		445
Restricted Receivables at December 31, 2020	547		696		500		397

Nuclear Asset-Recovery Bonds – DEFPF

DEFPF is a bankruptcy remote, wholly owned special purpose subsidiary of Duke Energy Florida. DEFPF was formed in 2016 for the sole purpose of issuing nuclear asset-recovery bonds to finance Duke Energy Florida's unrecovered regulatory asset related to Crystal River Unit 3.

In 2016, DEFPF issued senior secured bonds and used the proceeds to acquire nuclear asset-recovery property from Duke Energy Florida. The nuclear asset-recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable nuclear asset-recovery charge from all Duke Energy Florida retail customers until the bonds are paid in full and all financing costs have been recovered. The nuclear asset-recovery bonds are secured by the nuclear asset-recovery property and cash collections from the nuclear asset-recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Florida.

DEFPF is considered a VIE primarily because the equity capitalization is insufficient to support its operations. Duke Energy Florida has the power to direct the significant activities of the VIE as described above and therefore Duke Energy Florida is considered the primary beneficiary and consolidates DEFPF.

78

FINANCIAL STATEMENTS VARIABLE INTEREST ENTITIES

The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.

(in millions)	June 30, 2021		December 31, 2020
Receivables of VIEs	$	6	$	4
Regulatory Assets: Current	54		53
Current Assets: Other	33		39
Other Noncurrent Assets: Regulatory assets	914		937
Current Liabilities: Other	9		10
Current maturities of long-term debt	55		55
Long-Term Debt	973		1,002

Commercial Renewables

Certain of Duke Energy’s renewable energy facilities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. Assets are restricted and cannot be pledged as collateral or sold to third parties without prior approval of debt holders. Additionally, Duke Energy has VIEs associated with tax equity arrangements entered into with third-party investors in order to finance the cost of renewable assets eligible for tax credits. The activities that most significantly impacted the economic performance of these renewable energy facilities were decisions associated with siting, negotiating PPAs and Engineering, Procurement and Construction agreements, and decisions associated with ongoing operations and maintenance-related activities. Duke Energy is considered the primary beneficiary and consolidates the entities as it is responsible for all of these decisions.

The table below presents material balances reported on Duke Energy's Condensed Consolidated Balance Sheets related to Commercial Renewables VIEs.

(in millions)	June 30, 2021		December 31, 2020
Current Assets: Other	$	323	$	257
Property, Plant and Equipment: Cost	6,876		6,394
Accumulated depreciation and amortization	(1,354)		(1,242)
Other Noncurrent Assets: Other	73		67
Current maturities of long-term debt	164		167
Long-Term Debt	1,497		1,569
Other Noncurrent Liabilities: AROs	155		148
Other Noncurrent Liabilities: Other	352		316

NON-CONSOLIDATED VIEs

The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.

	June 30, 2021
	Duke Energy						Duke		Duke
	Pipeline		Commercial				Energy		Energy
(in millions)	Investments		Renewables		Total		Ohio		Indiana
Receivables from affiliated companies	$	—	$	—	$	—	$	54	$	85
Other current assets	17		—		17		—		$	—
Investments in equity method unconsolidated affiliates	15		475		490		—		—
Deferred tax asset	19		—		19		—		—
Total assets	$	51	$	475	$	526	$	54	$	85
Other current liabilities	33		4		37		—		—
Other noncurrent liabilities	69		10		79		—		—
Total liabilities	$	102	$	14	$	116	$	—	$	—
Net (liabilities) assets	$	(51)	$	461	$	410	$	54	$	85

79

FINANCIAL STATEMENTS VARIABLE INTEREST ENTITIES

	December 31, 2020
	Duke Energy						Duke		Duke
	Pipeline		Commercial				Energy		Energy
(in millions)	Investments		Renewables		Total		Ohio		Indiana
Receivables from affiliated companies	$	—	$	—	$	—	$	83	$	110
Investments in equity method unconsolidated affiliates	—		530		530		—		—
Other noncurrent assets	31		—		31		—		—
Total assets	$	31	$	530	$	561	$	83	$	110
Other current liabilities	928		5		933		—		—
Other noncurrent liabilities	8		10		18		—		—
Total liabilities	$	936	$	15	$	951	$	—	$	—
Net assets (liabilities)	$	(905)	$	515	$	(390)	$	83	$	110

The Duke Energy Registrants are not aware of any situations where the maximum exposure to loss significantly exceeds the carrying values shown above except for certain renewable energy project entities guarantees for debt services and operations and maintenance, as discussed below.

Pipeline Investments

Duke Energy has investments in various joint ventures to construct and operate pipeline projects. These entities are considered VIEs due to having insufficient equity to finance their own activities without subordinated financial support. Duke Energy does not have the power to direct the activities that most significantly impact the economic performance, the obligation to absorb losses or the right to receive benefits of these VIEs and therefore does not consolidate these entities.

Duke Energy has a 47% ownership interest in ACP. For the three and six months ended June 30, 2020, the ACP investment was considered a significant subsidiary because its income exceeded 20% of Duke Energy’s income. ACP's net loss for the three and six months ended June 30, 2020, was $4,414 million and $4,342 million, respectively.

In 2020, Duke Energy determined that it would no longer invest in the construction of the ACP pipeline. In February 2021, Duke Energy paid approximately $855 million to fund ACP's outstanding debt, relieving Duke Energy of its guarantee. See Notes 1 and 3 for further information regarding this transaction.

Commercial Renewables

Duke Energy has investments in various renewable energy project entities. Some of these entities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. Duke Energy does not consolidate these VIEs because power to direct and control key activities is shared jointly by Duke Energy and other owners.

OVEC

Duke Energy Ohio’s 9% ownership interest in OVEC is considered a non-consolidated VIE due to OVEC having insufficient equity to finance its activities without subordinated financial support. The activities that most significantly impact OVEC's economic performance include fuel strategy and supply activities and decisions associated with ongoing operations and maintenance-related activities. Duke Energy Ohio does not have the unilateral power to direct these activities, and therefore, does not consolidate OVEC.

As a counterparty to an Inter-Company Power Agreement (ICPA), Duke Energy Ohio has a contractual arrangement to receive entitlements to capacity and energy from OVEC’s power plants through June 2040 commensurate with its power participation ratio, which is equivalent to Duke Energy Ohio's ownership interest. Costs, including fuel, operating expenses, fixed costs, debt amortization and interest expense, are allocated to counterparties to the ICPA based on their power participation ratio. The value of the ICPA is subject to variability due to fluctuation in power prices and changes in OVEC's cost of business. Duke Energy cannot predict the outcome in this matter. See Note 3 for additional information.

CRC

See discussion under Consolidated VIEs for additional information related to CRC.

Amounts included in Receivables from affiliated companies in the above table for Duke Energy Ohio and Duke Energy Indiana reflect their retained interest in receivables sold to CRC. These subordinated notes held by Duke Energy Ohio and Duke Energy Indiana are stated at fair value.

The following table shows the gross and net receivables sold.

	Duke Energy Ohio				Duke Energy Indiana
(in millions)	June 30, 2021		December 31, 2020		June 30, 2021		December 31, 2020
Receivables sold	$	219	$	270	$	322	$	344
Less: Retained interests	54		83		85		110
Net receivables sold	$	165	$	187	$	237	$	234

80

FINANCIAL STATEMENTS VARIABLE INTEREST ENTITIES

The following table shows sales and cash flows related to receivables sold.

	Duke Energy Ohio								Duke Energy Indiana
	Three Months Ended				Six Months Ended				Three Months Ended				Six Months Ended
	June 30,				June 30,				June 30,				June 30,
(in millions)	2021		2020		2021		2020		2021		2020		2021		2020
Sales
Receivables sold	$	443	$	429	$	1,004	$	966	$	684	$	583	$	1,382	$	1,230
Loss recognized on sale	2		2		5		6		3		2		6		6
Cash flows
Cash proceeds from receivables sold	$	433	$	431	$	1,029	$	990	$	655	$	580	$	1,401	$	1,252
Return received on retained interests	1		—		2		2		1		1		3		3

Cash flows from sales of receivables are reflected within Cash Flows From Operating Activities and Cash Flows from Investing Activities on Duke Energy Ohio’s and Duke Energy Indiana’s Condensed Consolidated Statements of Cash Flows.

12. REVENUE

Duke Energy earns substantially all of its revenues through its reportable segments, Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables.

Electric Utilities and Infrastructure

Electric Utilities and Infrastructure earns the majority of its revenues through retail and wholesale electric service through the generation, transmission, distribution and sale of electricity. Duke Energy generally provides retail and wholesale electric service customers with their full electric load requirements or with supplemental load requirements when the customer has other sources of electricity.

The majority of wholesale revenues are full requirements contracts where the customers purchase the substantial majority of their energy needs and do not have a fixed quantity of contractually required energy or capacity. As such, related forecasted revenues are considered optional purchases. 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)	2021		2022		2023		2024		2025		Thereafter		Total
Progress Energy	$	49	$	107	$	44	$	45	$	7	$	51	$	303
Duke Energy Progress	4		8		8		8		—		—		28
Duke Energy Florida	45		99		36		37		7		51		275
Duke Energy Indiana	—		—		7		12		12		24		55

Revenues for block sales are recognized monthly as energy is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates.

Gas Utilities and Infrastructure

Gas Utilities and Infrastructure earns its revenue through retail and wholesale natural gas service through the transportation, distribution and sale of natural gas. Duke Energy generally provides retail and wholesale natural gas service customers with all natural gas load requirements. Additionally, while natural gas can be stored, substantially all natural gas provided by Duke Energy is consumed by customers simultaneously with receipt of delivery.

Fixed-capacity payments under long-term contracts for the Gas Utilities and Infrastructure segment include minimum margin contracts and supply arrangements with municipalities and power generation facilities. Revenues for related sales are recognized monthly as natural gas is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates. Estimated remaining performance obligations are as follows:

	Remaining Performance Obligations
(in millions)	2021		2022		2023		2024		2025		Thereafter		Total
Piedmont	$	34	$	67	$	64	$	61	$	60	$	336	$	622

Commercial Renewables

Commercial Renewables earns the majority of its revenues through long-term PPAs and generally sells all of its wind and solar facility output, electricity and Renewable Energy Certificates (RECs) to customers. The majority of these PPAs have historically been accounted for as leases. For PPAs that are not accounted for as leases, the delivery of electricity and the delivery of RECs are considered separate performance obligations.

Other

The remainder of Duke Energy’s operations is presented as Other, which does not include material revenues from contracts with customers.

81

FINANCIAL STATEMENTS REVENUE

Disaggregated Revenues

Disaggregated revenues are presented as follows:

	Three Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,336	$	683	$	1,216	$	478	$	738	$	171	$	265	$	—
General	1,513		498		720		330		390		106		190		—
Industrial	705		256		229		160		69		33		189		—
Wholesale	521		116		331		285		46		13		63		—
Other revenues	234		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
Commercial	91		—		—		—		—		27		—		59
Industrial	30		—		—		—		—		4		—		27
Power Generation	—		—		—		—		—		—		—		24
Other revenues	20		—		—		—		—		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.

82

FINANCIAL STATEMENTS REVENUE

	Three Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,249	$	677	$	1,173	$	460	$	713	$	169	$	231	$	—
General	1,379		507		611		298		313		103		161		—
Industrial	658		260		212		154		58		33		152		—
Wholesale	435		101		285		240		45		5		44		—
Other revenues	284		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
Commercial	75		—		—		—		—		23		—		52
Industrial	27		—		—		—		—		3		—		22
Power Generation	—		—		—		—		—		—		—		6
Other revenues	12		—		—		—		—		3		—		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	$	7	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total revenue from contracts with customers	$	5,338	$	1,607	$	2,472	$	1,222	$	1,250	$	420	$	613	$	187
Other revenue sources(a)	$	83	$	3	$	26	$	21	$	—	$	3	$	4	$	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.

83

FINANCIAL STATEMENTS REVENUE

	Six Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	4,798	$	1,476	$	2,378	$	1,038	$	1,340	$	366	$	578	$	—
General	2,932		1,000		1,344		636		708		210		379		—
Industrial	1,367		512		436		305		131		64		356		—
Wholesale	1,025		230		657		577		80		26		113		—
Other revenues	460		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
Commercial	295		—		—		—		—		75		—		215
Industrial	80		—		—		—		—		11		—		70
Power Generation	—		—		—		—		—		—		—		46
Other revenues	67		—		—		—		—		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.

84

FINANCIAL STATEMENTS REVENUE

	Six Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	4,515	$	1,433	$	2,242	$	962	$	1,280	$	345	$	496	$	—
General	2,887		1,056		1,275		617		658		217		342		—
Industrial	1,351		529		428		308		120		68		327		—
Wholesale	932		215		606		519		87		12		99		—
Other revenues	475		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
Commercial	244		—		—		—		—		66		—		178
Industrial	68		—		—		—		—		9		—		58
Power Generation	—		—		—		—		—		—		—		17
Other revenues	42		—		—		—		—		9		—		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	$	3	$	60	$	42	$	9	$	(3)	$	4	$	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.

85

FINANCIAL STATEMENTS REVENUE

As described in Note 1, Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. 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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at March 31, 2020	$	89	$	11	$	20	$	9	$	11	$	5	$	3	$	9
Write-Offs	(9)		(3)		(3)		(3)		—		—		—		(4)
Credit Loss Expense	15		6		12		8		3		—		—		1
Other Adjustments	7		—		—		—		—		—		—		—
Balance at June 30, 2020	$	102	$	14	$	29	$	14	$	14	$	5	$	3	$	6
Balance at March 31, 2021	$	147	$	34	$	37	$	23	$	15	$	4	$	3	$	14
Write-Offs	(5)		1		(4)		(3)		(1)		—		—		(2)
Credit Loss Expense	12		6		6		4		2		—		—		1
Other Adjustments	(31)		1		(3)		(3)		—		—		—		—
Balance at June 30, 2021	$	123	$	42	$	36	$	21	$	16	$	4	$	3	$	13
	Six Months Ended June 30, 2020 and 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at December 31, 2019	$	76	$	10	$	16	$	8	$	7	$	4	$	3	$	6
Cumulative Change in Accounting Principle	5		1		2		1		1		—		—		1
Write-Offs	(19)		(6)		(7)		(5)		(2)		—		—		(5)
Credit Loss Expense	33		9		18		10		8		1		—		4
Other Adjustments	7		—		—		—		—		—		—		—
Balance at June 30, 2020	$	102	$	14	$	29	$	14	$	14	$	5	$	3	$	6
Balance at December 31, 2020	$	146	$	23	$	37	$	23	$	14	$	4	$	3	$	12
Write-Offs	(26)		(7)		(14)		(8)		(6)		—		—		(3)
Credit Loss Expense	29		16		13		6		7		—		—		4
Other Adjustments	(26)		10		—		—		1		—		—		—
Balance at June 30, 2021	$	123	$	42	$	36	$	21	$	16	$	4	$	3	$	13

Trade and other receivables are evaluated based on an estimate of the risk of loss over the life of the receivable and current and historical conditions using supportable assumptions. Management evaluates the risk of loss for trade and other receivables by comparing the historical write-off amounts to total revenue over a specified period. Historical loss rates are adjusted due to the impact of current conditions, as well as forecasted conditions over a reasonable time period. The calculated write-off rate can be applied to the receivable balance for which an established reserve does not already exist. Management reviews the assumptions and risk of loss periodically for trade and other 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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	894	$	324	$	283	$	156	$	127	$	4	$	30	$	5
0-30 days	1,836		465		781		408		372		55		29		82
30-60 days	148		62		42		22		20		4		2		8
60-90 days	47		20		10		6		4		3		1		5
90+ days	180		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

86

FINANCIAL STATEMENTS REVENUE

	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	969	$	328	$	283	$	167	$	116	$	2	$	16	$	86
0-30 days	1,789		445		707		398		307		60		26		149
30-60 days	185		80		54		25		29		8		3		8
60-90 days	22		1		10		4		6		2		1		3
90+ days	119		16		32		9		23		30		12		9
Deferred Payment Arrangements(c)	215		96		80		52		28		—		—		7
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.

13. STOCKHOLDERS' EQUITY

Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the diluted weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as equity forward sale agreements, were exercised or settled. Duke Energy’s participating securities are restricted stock units that are entitled to dividends declared on Duke Energy common stock during the restricted stock unit’s vesting periods. Dividends declared on preferred stock are recorded on the Condensed Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are an adjustment to net income used in the calculation of basic and diluted EPS.

The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share amounts)	2021		2020		2021		2020
Net income (loss) available to Duke Energy common stockholders	$	751	$	(817)	$	1,704	$	82
Accumulated preferred stock dividends adjustment	(12)		(12)		—		—
Less: Impact of participating securities	1		—		1		—
Income (loss) from continuing operations available to Duke Energy common stockholders	$	738	$	(829)	$	1,703	$	82
Weighted average common shares outstanding – basic	769		735		769		734
Equity forwards	—		—		—		1
Weighted average common shares outstanding – diluted	769		735		769		735
Earnings (Loss) Per Share available to Duke Energy common stockholders
Basic and diluted	$	0.96	$	(1.13)	$	2.21	$	0.11
Potentially dilutive items excluded from the calculation(a)	2		2		2		2
Dividends declared per common share	$	0.965	$	0.945	$	1.930	$	1.890
Dividends declared on Series A preferred stock per depositary share(b)	$	0.359	$	0.359	$	0.719	$	0.719
Dividends declared on Series B preferred stock per share(c)	$	—	$	—	$	24.375	$	24.917

(a)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.

(b)    5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share.

(c)    4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share.

87

FINANCIAL STATEMENTS EMPLOYEE BENEFIT PLANS

14. EMPLOYEE BENEFIT PLANS

DEFINED BENEFIT RETIREMENT PLANS

Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified and non-qualified, non-contributory defined benefit retirement plans. Duke Energy's policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants.

QUALIFIED PENSION PLANS

The following tables include the components of net periodic pension costs for qualified pension plans.

	Three Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	44	$	14	$	12	$	8	$	6	$	1	$	3	$	2
Interest cost on projected benefit obligation	55		12		18		8		9		4		4		2
Expected return on plan assets	(140)		(35)		(47)		(21)		(25)		(7)		(10)		(5)
Amortization of actuarial loss	34		8		9		4		5		1		4		3
Amortization of prior service credit	(8)		(2)		—		(1)		—		—		(1)		(4)
Amortization of settlement charges	2		2		—		1		—		—		—		—
Net periodic pension costs	$	(13)	$	(1)	$	(8)	$	(1)	$	(5)	$	(1)	$	—	$	(2)

	Three Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	42	$	14	$	12	$	8	$	6	$	1	$	2	$	2
Interest cost on projected benefit obligation	68		15		22		9		11		4		5		3
Expected return on plan assets	(143)		(36)		(47)		(22)		(26)		(7)		(10)		(6)
Amortization of actuarial loss	30		7		9		4		5		1		3		3
Amortization of prior service credit	(8)		(2)		(1)		(1)		(1)		—		(1)		(3)
Amortization of settlement charges	3		1		—		1		—		—		—		—
Net periodic pension costs	$	(8)	$	(1)	$	(5)	$	(1)	$	(5)	$	(1)	$	(1)	$	(1)

	Six Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	88	$	28	$	25	$	15	$	11	$	2	$	5	$	3
Interest cost on projected benefit obligation	110		25		35		15		19		7		9		4
Expected return on plan assets	(279)		(70)		(94)		(42)		(51)		(14)		(20)		(10)
Amortization of actuarial loss	67		15		19		9		10		3		7		5
Amortization of prior service credit	(15)		(4)		(1)		(1)		—		—		(1)		(5)
Amortization of settlement charges	4		3		1		1		—		—		—		—
Net periodic pension costs	$	(25)	$	(3)	$	(15)	$	(3)	$	(11)	$	(2)	$	—	$	(3)

	Six Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	83	$	26	$	24	$	14	$	11	$	2	$	4	$	3
Interest cost on projected benefit obligation	135		31		43		19		23		8		11		5
Expected return on plan assets	(286)		(72)		(95)		(44)		(51)		(14)		(21)		(11)
Amortization of actuarial loss	64		14		20		9		11		3		6		5
Amortization of prior service credit	(16)		(4)		(2)		(1)		(1)		—		(1)		(5)
Amortization of settlement charges	5		2		1		1		—		—		—		—
Net periodic pension costs	$	(15)	$	(3)	$	(9)	$	(2)	$	(7)	$	(1)	$	(1)	$	(3)

88

FINANCIAL STATEMENTS EMPLOYEE BENEFIT PLANS

NON-QUALIFIED PENSION PLANS

Net periodic pension costs for non-qualified pension plans were not material for the three and six months ended June 30, 2021, and 2020.

OTHER POST-RETIREMENT BENEFIT PLANS

Net periodic costs for OPEB plans were not material for the three and six months ended June 30, 2021, and 2020.

15. INCOME TAXES

EFFECTIVE TAX RATES

The ETRs from continuing operations for each of the Duke Energy Registrants are included in the following table.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Duke Energy	4.9	%	26.2	%	6.8	%	98.9	%
Duke Energy Carolinas	0.4	%	13.7	%	4.3	%	15.1	%
Progress Energy	8.3	%	14.9	%	10.2	%	16.1	%
Duke Energy Progress	2.7	%	13.9	%	5.6	%	15.7	%
Duke Energy Florida	19.0	%	19.1	%	19.1	%	19.4	%
Duke Energy Ohio	22.0	%	15.4	%	16.1	%	16.6	%
Duke Energy Indiana	15.6	%	17.3	%	16.7	%	19.3	%
Piedmont	33.3	%	128.6	%	10.8	%	5.8	%

The decrease in the ETR for Duke Energy for the three and six months ended June 30, 2021, was primarily due to the cancellation of the ACP pipeline project recorded in the prior year and an increase in the amortization of excess deferred taxes.

The decrease in the ETR for Duke Energy Carolinas for the three and six months ended June 30, 2021, was primarily due to an increase in the amortization of excess deferred taxes.

The decrease in the ETR for Progress Energy for the three and six months ended June 30, 2021, was primarily due to an increase in the amortization of excess deferred taxes.

The decrease in the ETR for Duke Energy Progress for the three and six months ended June 30, 2021, was primarily due to an increase in the amortization of excess deferred taxes.

The increase in the ETR for Duke Energy Ohio for the three months ended June 30, 2021, was primarily due to a decrease in the amortization of excess deferred taxes.

The decrease in the ETR for Duke Energy Indiana for the three and six months ended June 30, 2021, was primarily due to an increase in the amortization of excess deferred taxes.

The decrease in the ETR for Piedmont for the three months ended June 30, 2021, was primarily due to a decrease in AFUDC equity, in relation to pretax losses.

The increase in the ETR for Piedmont for the six months ended June 30, 2021, was primarily due to a decrease in AFUDC equity.

16. SUBSEQUENT EVENTS

For information on subsequent events related to organization and basis of presentation, regulatory matters, commitments and contingencies and debt and credit facilities, see Notes 1, 3, 4 and 5.

89

MD&A DUKE ENERGY

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following combined Management’s Discussion and Analysis of Financial Condition and Results of Operations is separately filed by Duke Energy and Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont. However, none of the registrants make any representation as to information related solely to Duke Energy or the Subsidiary Registrants of Duke Energy other than itself.

DUKE ENERGY

Duke Energy is an energy company headquartered in Charlotte, North Carolina. Duke Energy operates in the U.S. primarily through its wholly owned subsidiaries, Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont. When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of the Subsidiary Registrants, which, along with Duke Energy, are collectively referred to as the Duke Energy Registrants.

Management’s Discussion and Analysis should be read in conjunction with the Condensed Consolidated Financial Statements and Notes for the six months ended June 30, 2021, and with Duke Energy’s Annual Report on Form 10-K for the year ended December 31, 2020.

Executive Overview

Advancing Our Clean Energy Transformation

During the second quarter, we continued to execute on our clean energy transformation, delivering strong, sustainable value for shareholders, customers, communities and employees.

•Renewables continues to play a major role in our clean energy transformation. We recently commissioned the 144 MW Pflugerville Solar and 182 MW Maryneal Wind projects in Texas, surpassing 10,000 MW of solar and wind resources and maintaining our planned trajectory to pass 16,000 MW of renewables by 2025 and 24,000 MW by 2030.

•In July, members of the House of Representatives of the North Carolina General Assembly (the House) voted to pass House Bill 951 that seeks to responsibly manage the state's clean energy transition and invest in critical infrastructure for the benefit of customers. As passed by the House, the proposed legislation outlines an "all of the above" energy transition that mandates the retirement of five subcritical coal facilities by 2030, designates replacement generation including adding approximately 4,700 MW of new renewables beyond what is currently planned, expands customer-facing solar programs, and adopts regulatory reform measures including multiyear rate plans and performance incentive mechanisms. These measures are expected to facilitate carbon emissions reductions of at least 61% from 2005 levels by 2030. The bill is being considered by the North Carolina State Senate and certain provisions are likely to change.

•In June, we filed an application with the U.S. Nuclear Regulatory Commission (NRC) to renew Oconee Nuclear Station's operating licenses for an additional 20 years. Oconee, located on Lake Keowee in Seneca, South Carolina, is Duke Energy's largest nuclear station, with three generating units that produce more than 2,500 MW of carbon-free electricity.

•We filed an additional $56 million proposal of Phase II programs to continue the electrification of transportation in North Carolina, which is expected to lead to more than 1,000 new charging ports or stations for electric vehicle charging in the state. This proposal comes six months after the NCUC approved a $25 million Phase I electric transportation project.

•In May, we announced that the Duke Energy Plaza, a 40-floor office tower currently under construction in Uptown Charlotte, will become the company’s new corporate headquarters, allowing us to reduce occupied space in the Charlotte area by approximately 60% to optimize our real estate footprint.

Regulatory Activity. During the second quarter of 2021, we continued to move our regulatory strategy forward. See Note 3 to the Condensed Consolidated Financial Statements, "Regulatory Matters," for additional information.

•In June, Duke Energy Kentucky filed a natural gas base rate, seeking permission to increase natural gas distribution rates by approximately $15 million after investing nearly $190 million into capital projects across Northern Kentucky since we last asked regulators to approve a rate increase in 2018.

•In May, the NCUC issued an order approving storm securitization for Duke Energy Carolinas and Duke Energy Progress, allowing the companies to move forward with issuing storm recovery bonds to recover deferred storm costs, including carrying costs and financing costs (approximately $980 million, collectively).

•In May, the Indiana Court of Appeals issued a favorable ruling related to the 2019 Indiana Rate Case, affirming the judgment of the IURC. Intervenors have petitioned for transfer review by the Indiana Supreme Court.

Matters Impacting Future Results

The matters discussed herein could materially impact the future operating results, financial condition and cash flows of the Duke Energy Registrants and Business Segments.

90

MD&A MATTERS IMPACTING FUTURE RESULTS

Regulatory Matters

Coal Ash Costs

As a result of the NCDEQ settlement on December 31, 2019, Duke Energy Carolinas and Duke Energy Progress agreed to excavate seven of the nine remaining coal ash basins in North Carolina with ash moved to on-site lined landfills. At the two remaining basins, uncapped basin ash will be excavated and moved to off-site lined landfills. The majority of spend is expected to occur over the next 15-20 years. In January 2021, Duke Energy Carolinas and Duke Energy Progress reached a settlement agreement on recovery of coal ash costs as outlined in Note 3, "Regulatory Matters." The company agreed not to seek recovery of approximately $1 billion of deferred coal ash expenditures and Duke Energy Carolinas and Duke Energy Progress took a charge of approximately $500 million each in 2020. On March 31, 2021, and April 16, 2021, the NCUC approved the coal ash settlement for Duke Energy Carolinas and Duke Energy Progress, respectively.

In 2019, Duke Energy Carolinas and Duke Energy Progress received orders from the PSCSC denying recovery of certain coal ash costs. Duke Energy Carolinas and Duke Energy Progress have appealed these decisions to the South Carolina Supreme Court and those appeals are pending. An order from regulatory or judicial authorities that rejects our proposed settlement or disallows recovery of costs related to closure of these ash basins could have an adverse impact.

Duke Energy Indiana has interpreted the CCR rule to identify the coal ash basin sites impacted and has assessed the amounts of coal ash subject to the rule and a method of compliance. In 2020, the Hoosier Environmental Council filed a petition challenging the Indiana Department of Environmental Management's (IDEM) partial approval of five of Duke Energy Indiana’s ash pond site closure plans at Gallagher Station. The petition does not challenge the other 13 basin closures approved by IDEM at other Indiana stations. Interpretation of the requirements of the CCR rule is subject to further legal challenges and regulatory approvals, which could result in additional ash basin closure requirements, higher costs of compliance and greater AROs. Additionally, Duke Energy Indiana has retired facilities that are not subject to the CCR rule. Duke Energy Indiana may incur costs at these facilities to comply with environmental regulations or to mitigate risks associated with on-site storage of coal ash.

Rate Cases

In March 2021, Piedmont filed a general rate case with the NCUC. The outcome of this rate case could have a material impact.

MGP

The PUCO has issued an order authorizing recovery of MGP costs at certain sites in Ohio with a deadline to complete the MGP environmental investigation and remediation work prior to December 31, 2016. This deadline was subsequently extended to December 31, 2019. Duke Energy Ohio has filed for a request for extension of the deadline. A hearing on that request has not been scheduled. Disallowance of costs incurred, failure to complete the work by the deadline or failure to obtain an extension from the PUCO could result in an adverse impact.

For additional information, see Note 3 to the Condensed Consolidated Financial Statements, “Regulatory Matters.”

Minority Interest Investment in Duke Energy Indiana

In January 2021, Duke Energy entered into a definitive agreement providing for a 19.9% minority interest investment in Duke Energy Indiana by an affiliate of GIC, Singapore's sovereign wealth fund. The transaction is subject to the satisfaction of certain customary conditions described in the investment agreement, including receipt of the approval of the FERC; review by the Committee on Foreign Investments in the U.S. was completed in June 2021. Failure to obtain related approvals or satisfy the conditions in the investment agreement could result in the termination of the transaction and could result in an adverse impact.

Commercial Renewables

Duke Energy continues to monitor recoverability of renewable merchant plants located in the Electric Reliability Council of Texas West market and in the PJM West market, due to declining market pricing and declining long-term forecasted energy prices. Based on the most recent recoverability test, the carrying value approximated the aggregate estimated future undiscounted cash flows for the assets under review. A continued decline in energy market pricing would likely result in a future impairment. Impairment of these assets could result in adverse impacts. For additional information, see Note 2 to the Condensed Consolidated Financial Statements, "Business Segments."

In February 2021, a severe winter storm impacted certain Commercial Renewables assets in Texas. Extreme weather conditions limited the ability for these solar and wind facilities to generate and sell electricity into the Electric Reliability Council of Texas market. Both lost revenues and higher than expected purchased power costs have negatively impacted the operating results of these generating units. The financial impact of the storm is expected to have a material impact on the Commercial Renewables segment's 2021 operating results. In addition, Duke Energy has been named in multiple lawsuits arising out of this winter storm, and particularly, the deregulated market managed by the Electric Reliability Council of Texas. For more information, see Notes 2 and 4 to the Condensed Consolidated Financial Statements, "Business Segments" and "Commitments and Contingencies," respectively.

COVID-19

Duke Energy continues to monitor the impacts of the COVID-19 pandemic on its results of operations, financial position and cash flows as a result of the economic slowdown caused by reduced operations of businesses and governmental agencies and the corresponding reduction in the demand for energy. Duke Energy has experienced improvement in energy sales, aging of receivables and operating results in recent periods and continues efforts to partially offset these impacts. Additionally, in light of learnings from COVID-19 regarding workforce deployment and technology capabilities, the company has reviewed the long-term real estate and future workforce strategy. The review has resulted in an initiative that will reduce physical workspace and includes reassessments of lease terms and lease modifications, termination penalties, as well as, asset impairments on property, plant and equipment and a change in workforce roles and responsibilities. For more information, see Note 1 to the Condensed Consolidated Financial Statements, "Organization and Basis of Presentation."

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MD&A MATTERS IMPACTING FUTURE RESULTS

Activist Investor

On May 17, 2021, Elliott, who has indicated it holds an economic interest in outstanding Duke Energy common stock, publicly released a letter it had sent to the Board, which advocated for consideration of certain governance and strategic proposals. On May 17, 2021, management issued a response to Elliott. On July 19, 2021, Elliott publicly released a second letter to the Board and Duke Energy issued a response. Duke Energy is unable to predict the outcome of this matter.

Other Matters

See "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations," in the Duke Energy Registrants' Annual Reports on Form 10-K for the year ended December 31, 2020, for discussion of risks associated with the Tax Act.

Results of Operations

Non-GAAP Measures

Management’s Discussion and Analysis includes financial information prepared in accordance with GAAP in the U.S., as well as certain non-GAAP financial measures such as adjusted earnings and adjusted EPS discussed below. Generally, a non-GAAP financial measure is a numerical measure of financial performance, financial position or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures should be viewed as a supplement to, and not a substitute for, financial measures presented in accordance with GAAP. Non-GAAP measures presented may not be comparable to similarly titled measures used by other companies because other companies may not calculate the measures in the same manner.

Management evaluates financial performance in part based on non-GAAP financial measures, including adjusted earnings and adjusted EPS. Adjusted earnings and adjusted EPS represent income from continuing operations available to Duke Energy Corporation common stockholders in dollar and per share amounts, adjusted for the dollar and per share impact of special items. As discussed below, special items represent certain charges and credits, which management believes are not indicative of Duke Energy's ongoing performance. The most directly comparable GAAP measures for adjusted earnings and adjusted EPS are GAAP Reported Earnings (Loss) and GAAP Reported Earnings (Loss) Per Share, respectively.

Special items included in the periods presented below include the following, which management believes do not reflect ongoing costs:

•Gas Pipeline Investments represents costs related to the cancellation of the ACP pipeline and additional exit obligations.

•Severance represents the reversal of 2018 severance charges, which were deferred as a result of a partial settlement in the Duke Energy Carolinas and the Duke Energy Progress 2019 North Carolina rate cases.

•Workplace and workforce realignment represents costs attributable to business transformation, including long-term real estate strategy changes and workforce realignment.

Three Months Ended June 30, 2021, as compared to June 30, 2020

GAAP reported EPS was $0.96 for the second quarter of 2021 compared to a loss per share of $(1.13) in the second quarter of 2020. In addition to the drivers below, GAAP reported EPS increased due to the cancellation of the ACP pipeline in the prior year, partially offset by workplace and workforce realignment costs.

As discussed above, management also evaluates financial performance based on adjusted EPS. Duke Energy’s second quarter 2021 adjusted EPS was $1.15 compared to $1.08 for the second quarter of 2020. The increase in adjusted EPS was primarily due to positive rate case contributions, higher volumes and wholesale results. This was partially offset by higher operation and maintenance expenses, lower Commercial Renewables earnings, the loss of ACP earnings and share dilution from equity issuances.

The following table reconciles non-GAAP measures, including adjusted EPS, to their most directly comparable GAAP measures.

	Three Months Ended June 30,
	2021				2020
(in millions, except per share amounts)	Earnings		EPS		(Loss) Earnings		(Loss) Earnings Per Share
GAAP Reported Earnings (Loss)/GAAP Reported Earnings (Loss) Per Share	$	751	$	0.96	$	(817)	$	(1.13)
Adjustments:
Gas Pipeline Investments(a)	12		0.01		1,626		2.21
Workplace and Workforce Realignment(b)	135		0.18		—		—
Adjusted Earnings/Adjusted EPS	$	898	$	1.15	$	809	$	1.08

(a)    Net of tax benefit of $4 million and $374 million for the three months ended June 30, 2021, and 2020, respectively.

(b)    Net of tax benefit of $40 million.

Six Months Ended June 30, 2021, as compared to June 30, 2020

GAAP Reported EPS was $2.21 for the six months ended June 30, 2021, compared to $0.11 for the six months ended June 30, 2020. In addition to the drivers below, GAAP reported EPS increased due to the cancellation of the ACP pipeline in the prior year, partially offset by workplace and workforce realignment costs.

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As discussed above, management also evaluates financial performance based on adjusted EPS. Duke Energy’s adjusted EPS was $2.41 for the six months ended June 30, 2021, compared to $2.22 for the six months ended June 30, 2020. The increase in adjusted EPS was primarily due to positive rate case contributions and other riders and retail margin, favorable weather and higher volumes, partially offset by the lower Commercial Renewables earnings, including Texas Storm Uri impacts, the loss of ACP earnings, higher income tax expense and share dilution from equity issuances.

The following table reconciles non-GAAP measures, including adjusted EPS, to their most directly comparable GAAP measures.

	Six Months Ended June 30,
	2021				2020
(in millions, except per share amounts)	Earnings		EPS		Earnings		EPS
GAAP Reported Earnings/GAAP Reported EPS	$	1,704	$	2.21	$	82	$	0.11
Adjustments:
Gas Pipeline Investments(a)	17		0.02		1,626		2.21
Severance(b)	—		—		(75)		(0.10)
Workplace and Workforce Realignment(c)	135		0.18		—		—
Adjusted Earnings/Adjusted EPS	$	1,856	$	2.41	$	1,633	$	2.22

(a)    Net of tax benefit of $5 million and $374 million for the six months ended June 30, 2021, and 2020, respectively.

(b)    Net of tax expense of $23 million.

(c)    Net of tax benefit of $40 million.

SEGMENT RESULTS

The remaining information presented in this discussion of results of operations is on a GAAP basis. Management evaluates segment performance based on segment income. Segment income is defined as income from continuing operations net of income attributable to noncontrolling interests and preferred stock dividends. Segment income includes intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements.

Duke Energy's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The remainder of Duke Energy’s operations is presented as Other. See Note 2 to the Condensed Consolidated Financial Statements, “Business Segments,” for additional information on Duke Energy’s segment structure.

Electric Utilities and Infrastructure

	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2021		2020		Variance		2021		2020		Variance
Operating Revenues	$	5,335	$	5,034	$	301	$	10,616	$	10,217	$	399
Operating Expenses
Fuel used in electric generation and purchased power	1,434		1,367		67		2,896		2,834		62
Operation, maintenance and other	1,262		1,240		22		2,544		2,565		(21)
Depreciation and amortization	1,013		993		20		2,070		1,970		100
Property and other taxes	308		296		12		619		599		20
Impairment of assets and other charges	1		1		—		1		3		(2)
Total operating expenses	4,018		3,897		121		8,130		7,971		159
Gains on Sales of Other Assets and Other, net	2		7		(5)		2		8		(6)
Operating Income	1,319		1,144		175		2,488		2,254		234
Other Income and Expenses, net	97		89		8		201		174		27
Interest Expense	361		344		17		701		683		18
Income Before Income Taxes	1,055		889		166		1,988		1,745		243
Income Tax Expense	120		136		(16)		233		287		(54)
Segment Income	$	935	$	753	$	182	$	1,755	$	1,458	$	297
Duke Energy Carolinas GWh sales	20,362		19,083		1,279		42,324		40,319		2,005
Duke Energy Progress GWh sales	15,799		14,807		992		32,336		30,477		1,859
Duke Energy Florida GWh sales	11,194		10,800		394		19,748		19,417		331
Duke Energy Ohio GWh sales	5,738		5,262		476		11,742		11,085		657
Duke Energy Indiana GWh sales	7,366		6,773		593		15,092		14,379		713
Total Electric Utilities and Infrastructure GWh sales	60,459		56,725		3,734		121,242		115,677		5,565
Net proportional MW capacity in operation							49,749		50,364		(615)

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MD&A SEGMENT RESULTS — ELECTRIC UTILITIES AND INFRASTRUCTURE

Three Months Ended June 30, 2021, as compared to June 30, 2020

Electric Utilities and Infrastructure’s higher segment income is due to higher revenues from rate cases in various jurisdictions, weather-normal sales volumes, partially offset by higher operating expenses. The following is a detailed discussion of the variance drivers by line item.

Operating Revenues. The variance was driven primarily by:

•a $91 million increase in retail base rate pricing due to general rate cases in Indiana and North Carolina net of rider impacts as well as multiyear rate adjustments in Florida;

•an $82 million increase in weather-normal retail sales volumes;

•a $70 million increase in fuel revenues driven by higher sales volumes; and

•a $51 million increase in wholesale revenues due to higher capacity volumes at Duke Energy Progress and settlement agreements impacting Duke Energy Carolinas and Duke Energy Progress wholesale customers.

Operating Expenses. The variance was driven primarily by:

•a $67 million increase in fuel used in electric generation and purchased power primarily due to higher sales volumes;

•a $22 million increase in operation, maintenance and other primarily driven by higher labor and outage costs, partially offset by lower storm and COVID-19 costs; and

•a $20 million increase in depreciation and amortization primarily due to resolution of rate cases and higher plant in service, partially offset by lower depreciation related to the extension of the lives of nuclear facilities.

Interest Expense. The variance was primarily due to lower debt return on coal ash projects at Duke Energy Carolinas and Duke Energy Progress.

Income Tax Expense. The decrease in tax expense was primarily due to an increase in the amortization of excess deferred taxes, partially offset by an increase in pretax income. The ETRs for the three months ended June 30, 2021, and 2020, were 11.4% and 15.3%, respectively. The decrease in the ETR was primarily due to an increase in the amortization of excess deferred taxes.

Six Months Ended June 30, 2021, as compared to June 30, 2020

Electric Utilities and Infrastructure’s variance is due to higher revenues from rate cases in various jurisdictions and higher retail sales volumes, partially offset by higher depreciation and amortization and fuel used in electric generation and purchased power. The following is a detailed discussion of the variance drivers by line item.

Operating Revenues. The variance was driven primarily by:

•a $142 million increase in retail base rate pricing due to general rate cases in Indiana and North Carolina net of rider impacts as well as multiyear settlement rate adjustments in Florida;

•a $103 million increase in retail sales, net of fuel revenues, due to more favorable weather;

•a $74 million increase in weather-normal retail sales volumes; and

•a $67 million increase in fuel revenues driven by higher sales volumes.

Partially offset by:

•a $55 million decrease in storm revenues due to full recovery of Hurricane Dorian costs in the prior year.

Operating Expenses. The variance was driven primarily by:

•a $100 million increase in depreciation and amortization primarily due to resolution of rate cases and higher plant in service, partially offset by lower depreciation related to the extension of the lives of nuclear facilities;

•a $62 million increase in fuel used in electric generation and purchased power primarily due to higher sales volumes; and

•a $20 million increase in property and other taxes primarily at Duke Energy Ohio due to increased plant in service, higher kilowatt taxes due to increased usage and a lower Network Integration Transmission Service tax deferral.

Partially offset by:

•a $21 million decrease in operations, maintenance and other driven by decreased storm amortization at Duke Energy Florida and lower COVID-19 costs, partially offset by higher employee-related expenses.

Other Income and Expenses, net. The variance was primarily due to lower non-service pension costs in the current year.

Interest Expense. The variance was primarily due to lower debt return on coal ash projects at Duke Energy Carolinas and Duke Energy Progress.

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MD&A SEGMENT RESULTS — ELECTRIC UTILITIES AND INFRASTRUCTURE

Income Tax Expense. The decrease in tax expense was primarily due to an increase in the amortization of excess deferred taxes, partially offset by an increase in pretax income. The ETRs for the six months ended June 30, 2021, and 2020, were 11.7% and 16.4%, respectively. The decrease in the ETR was primarily due to an increase in the amortization of excess deferred taxes.

Gas Utilities and Infrastructure

	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2021		2020		Variance		2021		2020		Variance
Operating Revenues	$	327	$	289	$	38	$	1,102	$	953	$	149
Operating Expenses
Cost of natural gas	79		60		19		355		259		96
Operation, maintenance and other	98		99		(1)		200		209		(9)
Depreciation and amortization	74		62		12		142		128		14
Property and other taxes	27		26		1		62		56		6
Total operating expenses	278		247		31		759		652		107
Operating Income	49		42		7		343		301		42
Other Income and Expenses
Equity in losses of unconsolidated affiliates	(8)		(1,970)		1,962		(8)		(1,933)		1,925
Other income and expenses, net	18		14		4		35		26		9
Total other income and expenses	10		(1,956)		1,966		27		(1,907)		1,934
Interest Expense	35		37		(2)		68		68		—
Income (Loss) Before Income Taxes	24		(1,951)		1,975		302		(1,674)		1,976
Income Tax Expense (Benefit)	7		(375)		382		40		(347)		387
Segment Income (Loss)	$	17	$	(1,576)	$	1,593	$	262	$	(1,327)	$	1,589
Piedmont LDC throughput (dekatherms)	106,034,615		96,807,940		9,226,675		255,661,197		245,311,935		10,349,262
Duke Energy Midwest LDC throughput (Mcf)	14,842,906		15,106,407		(263,501)		51,951,909		48,892,241		3,059,668

Three Months Ended June 30, 2021, as compared to June 30, 2020

Gas Utilities and Infrastructure’s results were impacted primarily by the cancellation of the ACP pipeline in the prior year. The following is a detailed discussion of the variance drivers by line item.

Operating Revenues. The variance was driven primarily by:

•a $19 million increase due to higher natural gas costs passed through to customers, higher volumes and increased off-system sales natural gas costs;

•a $9 million increase due to revenue form the Capital Expenditure Program (CEP) rider related to 2019 and 2020 activity; and

•a $6 million increase due to Tennessee base rate case increases and North Carolina IMR.

Operating Expenses. The variance was driven primarily by:

•a $19 million increase in cost of natural gas primarily due to higher natural gas prices, higher volumes and increased off-system sales natural gas costs; and

•a $12 million increase in depreciation due to additional plant in service.

Equity in losses of unconsolidated affiliates. The variance was primarily driven by the cancellation of the ACP pipeline in the prior year.

Income Tax Expense. The increase in tax expense was primarily due to the cancellation of the ACP pipeline project recorded in the prior year. The ETRs for the three months ended June 30, 2021, and 2020 were 29.2% and 19.2%, respectively. The increase in the ETR was primarily due to a decrease in AFUDC Equity and a decrease in the amortization of excess deferred taxes, partially offset by the cancellation of the ACP pipeline project recorded in the prior year.

Six Months Ended June 30, 2021, as compared to June 30, 2020

Gas Utilities and Infrastructure’s results were impacted primarily by the cancellation of the ACP pipeline in the prior year and margin growth. The following is a detailed discussion of the variance drivers by line item.

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MD&A SEGMENT RESULTS — GAS UTILITIES AND INFRASTRUCTURE

Operating Revenues. The variance was driven primarily by:

•a $96 million increase due to higher natural gas costs passed through to customers, higher volumes, and increased off-system sales natural gas costs;

•a $14 million increase due to Tennessee base rate increases;

•a $10 million increase due to North Carolina IMR; and

•a $9 million increase due to revenue from the CEP rider related to 2019 and 2020 activity.

Operating Expenses. The variance was driven primarily by:

•a $96 million increase in cost of natural gas due to higher natural gas prices, higher volumes and increased off-system sales natural gas costs; and

•a $14 million increase in depreciation due to additional plant in service.

Equity in losses of unconsolidated affiliates. The variance was driven primarily by the cancellation of the ACP pipeline in the prior year.

Income Tax Expense. The increase in tax expense was primarily due to the cancellation of the ACP pipeline project recorded in the prior year. The ETRs for the six months ended June 30, 2021, and 2020, were 13.2% and 20.7%, respectively. The decrease in the ETR was primarily due to the cancellation of the ACP pipeline project recorded in the prior year.

Commercial Renewables

	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2021		2020		Variance		2021		2020		Variance
Operating Revenues	$	119	$	123	$	(4)	$	238	$	252	$	(14)
Operating Expenses
Operation, maintenance and other	78		63		15		150		132		18
Depreciation and amortization	56		48		8		109		96		13
Property and other taxes	9		8		1		18		16		2
Impairment of assets and other charges	—		6		(6)		—		6		(6)
Total operating expenses	143		125		18		277		250		27
Operating (Loss) Income	(24)		(2)		(22)		(39)		2		(41)
Other Income and Expenses, net	3		2		1		(22)		1		(23)
Interest Expense	20		13		7		33		31		2
Loss Before Income Taxes	(41)		(13)		(28)		(94)		(28)		(66)
Income Tax Benefit	(21)		(13)		(8)		(50)		(37)		(13)
Add: Loss Attributable to Noncontrolling Interests	67		90		(23)		118		138		(20)
Segment Income	$	47	$	90	$	(43)	$	74	$	147	$	(73)
Renewable plant production, GWh	2,787		2,660		127		5,375		5,097		278
Net proportional MW capacity in operation(a)							4,474		3,779		695

(a)    Certain projects are included in tax equity structures where investors have differing interests in the project's economic attributes. One hundred percent of the tax equity project's capacity is included in the table above.

Three Months Ended June 30, 2021, as compared to June 30, 2020

Commercial Renewables' results were unfavorable to prior year primarily driven by higher operating expenses from the growth of new project investments since the prior year as well as fewer projects being placed in service in the current period. Since the prior year period, Commercial Renewables has placed in service approximately 700 MW.

Operating Expenses. The variance was primarily driven by a $13 million increase associated with the growth of new project investments, a $5 million increase for higher operating costs attributed to maintenance at several wind facilities and a $5 million increase for higher engineering and construction costs within the distributed energy portfolio. This was partially offset by a $6 million decrease related to an impairment charge in the prior year for a non-contracted wind project.

Interest Expense. The increase was primarily due to $5 million of capitalized interest in the prior year for solar projects that were in development.

Income Tax Benefit. The increase in the tax benefit was primarily driven by an increase in pretax losses.

Loss Attributable to Noncontrolling Interests. The decrease was primarily driven by fewer project investments financed by tax equity placed in service.

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PART I

Six Months Ended June 30, 2021, as compared to June 30, 2020

Commercial Renewables' results were unfavorable to prior year primarily driven by the impacts from Texas Storm Uri, which resulted in a $35 million pretax loss as well as unfavorable wind resource and fewer projects being placed in service in the current year.

Operating Revenues. The variance was primarily driven by a $13 million decrease for lower market prices in the current year impacting the wind portfolio and a $12 million decrease due to low wind resource and operating downtime. This was partially offset by an $8 million increase for market sales in excess of market purchases during Texas Storm Uri and a $6 million increase due to growth of new projects.

Operating Expenses. The increase was primarily due to $18 million for higher operating expenses, depreciation expense and property tax expense as a result of new projects placed in service, a $7 million increase for higher operating expenses attributed to maintenance at several wind and solar facilities, a $4 million increase for higher engineering and construction costs within the distributed energy portfolio, and a $2 million increase associated with Texas Storm Uri. This was partially offset by a $6 million decrease related to an impairment charge in the prior year for a non-contracted wind project.

Other Income and Expenses, net. The variance was primarily driven by a $29 million loss in equity earnings due to the impacts of Texas Storm Uri, partially offset by $4 million in equity earnings from the wind and distributed asset portfolios.

Income Tax Benefit. The increase in the tax benefit was primarily driven by an increase in pretax losses.

Loss Attributable to Noncontrolling Interests. The variance was primarily driven by an $8 million net decrease as fewer project investments financed by tax equity were placed in service as well as a $12 million loss resulting from Texas Storm Uri.

Other

	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2021		2020		Variance		2021		2020		Variance
Operating Revenues	$	27	$	26	$	1	$	53	$	49	$	4
Operating Expenses	208		37		171		236		(52)		288
Operating (Loss) Income	(181)		(11)		(170)		(183)		101		(284)
Other Income and Expenses, net	32		45		(13)		53		12		41
Interest Expense	156		167		(11)		307		338		(31)
Loss Before Income Taxes	(305)		(133)		(172)		(437)		(225)		(212)
Income Tax Benefit	(71)		(64)		(7)		(103)		(83)		(20)
Less: Preferred Dividends	14		15		(1)		53		54		(1)
Net Loss	$	(248)	$	(84)	$	(164)	$	(387)	$	(196)	$	(191)

Three Months Ended June 30, 2021, as compared to June 30, 2020

The higher net loss was driven by asset impairments to optimize the company's real estate portfolio and reduce office space as parts of the business move to a hybrid and remote workforce strategy.

Operating Expenses. The increase was primarily driven by asset impairments to optimize the company's real estate portfolio and reduce office space as parts of the business move to a hybrid and remote workforce strategy.

Other Income and Expenses, net. The variance was primarily due to lower returns on investments that fund certain employee benefit obligations.

Interest Expense. The variance was primarily due to lower interest rates.

Income Tax Benefit. The increase in the tax benefit was primarily driven by an increase in pretax losses, partially offset by lower state tax expense in the prior year. The ETRs for the three months ended June 30, 2021, and 2020, were 23.3% and 48.1%, respectively. The decrease in the ETR was primarily due to lower state tax expense in the prior year.

Six Months Ended June 30, 2021, as compared to June 30, 2020

The higher net loss was driven by asset impairments to optimize the company's real estate portfolio and reduce office space as parts of the business move to a hybrid and remote workforce strategy, reversal of severance costs in the prior year, and lower state income tax expense in the prior year, partially offset by lower interest rates and higher earnings on the NMC investment.

Operating Expenses. The increase was primarily due to asset impairments to optimize the company's real estate portfolio and reduce office space as parts of the business move to a hybrid and remote workforce strategy as well as a reversal of severance costs in the prior year.

Other Income and Expenses, net. The variance was primarily due to higher returns on investments that fund certain employee benefit obligations and higher equity earnings from the NMC investment.

Interest Expense. The variance was primarily due to lower interest rates.

Income Tax Benefit. The increase in the tax benefit was primarily driven by an increase in pretax losses, partially offset by lower state tax expense in the prior year. The ETRs for the six months ended June 30, 2021, and 2020, were 23.6% and 36.9%, respectively. The decrease in the ETR was primarily due to lower state tax expense in the prior year.

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MD&A DUKE ENERGY CAROLINAS

DUKE ENERGY CAROLINAS

Results of Operations

	Six Months Ended June 30,
(in millions)	2021		2020		Variance
Operating Revenues	$	3,326	$	3,358	$	(32)
Operating Expenses
Fuel used in electric generation and purchased power	766		829		(63)
Operation, maintenance and other	876		816		60
Depreciation and amortization	722		718		4
Property and other taxes	157		156		1
Impairment of assets and other charges	75		2		73
Total operating expenses	2,596		2,521		75
Gains on Sales of Other Assets and Other, net	2		—		2
Operating Income	732		837		(105)
Other Income and Expenses, net	92		86		6
Interest Expense	263		248		15
Income Before Income Taxes	561		675		(114)
Income Tax Expense	24		102		(78)
Net Income	$	537	$	573	$	(36)

The following table shows the percent changes in GWh sales and average number of customers. The percentages for retail customer classes represent billed sales only. Total sales includes billed and unbilled retail sales and wholesale sales to incorporated municipalities, public and private utilities and power marketers. Amounts are not weather-normalized.

Increase (Decrease) over prior year	2021
Residential sales	9.1	%
General service sales	0.4	%
Industrial sales	1.6	%
Wholesale power sales	10.0	%
Joint dispatch sales	66.0	%
Total sales	5.0	%
Average number of customers	1.9	%

Six Months Ended June 30, 2021, as compared to June 30, 2020

Operating Revenues. The variance was driven primarily by:

•a $64 million decrease in fuel revenues due to lower prices and retail sales volumes; and

•a $27 million decrease in rider revenues primarily due to energy efficiency programs.

Partially offset by:

•a $66 million increase in retail sales due to more favorable weather.

Operating Expenses. The variance was driven primarily by:

•a $73 million increase in impairment of assets and other charges due to the optimization of the company's real estate portfolio and reduction of office space as parts of the business move to a hybrid and remote workforce strategy; and

•a $60 million increase in operation, maintenance and other expense primarily due a severance cost adjustment in the prior year related to the 2019 North Carolina retail rate case and higher employee-related costs, partially offset by lower nuclear costs.

Partially offset by:

•a $63 million decrease in fuel used in electric generation and purchased power primarily due to lower retail sales volumes.

Interest Expense. The variance was driven by lower debt return on coal ash projects, amortization of carrying costs related to excess deferred taxes, partially offset by higher fixed-rate debt outstanding in the prior year.

Income Tax Expense. The decrease in tax expense was primarily due to an increase in the amortization of excess deferred taxes and a decrease in pretax income.

98

MD&A PROGRESS ENERGY

PROGRESS ENERGY

Results of Operations

	Six Months Ended June 30,
(in millions)	2021		2020		Variance
Operating Revenues	$	5,184	$	4,920	$	264
Operating Expenses
Fuel used in electric generation and purchased power	1,628		1,540		88
Operation, maintenance and other	1,227		1,143		84
Depreciation and amortization	926		884		42
Property and other taxes	275		272		3
Impairment of assets and other charges	37		—		37
Total operating expenses	4,093		3,839		254
Gains on Sales of Other Assets and Other, net	1		6		(5)
Operating Income	1,092		1,087		5
Other Income and Expenses, net	81		65		16
Interest Expense	392		405		(13)
Income Before Income Taxes	781		747		34
Income Tax Expense	80		120		(40)
Net Income	701		627		74

Six Months Ended June 30, 2021, as compared to June 30, 2020

Operating Revenues. The variance was driven primarily by:

•a $123 million increase in fuel cost recovery driven by higher fuel prices, higher volumes in the current year, and accelerated recovery of retired Crystal River coal units;

•a $70 million increase in weather-normal retail sales;

•a $56 million increase in retail pricing due to the North Carolina rate case and base rate adjustments at Duke Energy Florida related to annual increases from the 2017 Settlement Agreement and the solar base rate adjustment;

•a $30 million increase in retail sales, net of fuel revenues, driven by more favorable weather in the Carolinas; and

•a $15 million increase in wholesale revenues due to higher capacity volumes, partially offset by lower recovery of coal ash costs at Duke Energy Progress.

Partially offset by:

•a $55 million decrease in storm revenues at Duke Energy Florida due to full recovery of Hurricane Dorian costs in the prior year.

Operating Expenses. The variance was driven primarily by:

•an $88 million increase in fuel used in electric generation and purchased power primarily due to higher demand, changes in generation mix and recognition of RECs used for compliance at Duke Energy Progress, and outside fuel purchases during a major plant outage;

•an $84 million increase in operation, maintenance and other expense driven by a prior year severance cost adjustment related to the 2019 North Carolina retail rate case, outage costs and other employee-related costs, partially offset by reduced storm amortization at Duke Energy Florida;

•a $42 million increase in depreciation and amortization primarily due to accelerated depreciation of retired Crystal River coal units and an increase in plant base at Duke Energy Florida, partially offset by the amortization of coal ash asset retirement obligations at Duke Energy Progress; and

•a $37 million increase in impairment of assets and other charges to optimize the company's real estate portfolio and reduce office space as parts of the business move to a hybrid and remote workforce strategy.

Other Income and Expenses, net. The increase is primarily due to lower non-service pension costs and unrealized gains on the nuclear decommissioning trust fund at Duke Energy Florida.

Interest Expense. The variance was driven primarily by lower intercompany interest expense and lower debt outstanding at Progress Energy, Inc.

Income Tax Expense. The decrease in tax expense was primarily due to an increase in the amortization of excess deferred taxes, partially offset by an increase in pretax income.

99

MD&A DUKE ENERGY PROGRESS

DUKE ENERGY PROGRESS

Results of Operations

	Six Months Ended June 30,
(in millions)	2021		2020		Variance
Operating Revenues	$	2,750	$	2,581	$	169
Operating Expenses
Fuel used in electric generation and purchased power	845		800		45
Operation, maintenance and other	724		622		102
Depreciation and amortization	521		544		(23)
Property and other taxes	90		91		(1)
Impairment of assets and other charges	18		—		18
Total operating expenses	2,198		2,057		141
Gains on Sales of Other Assets and Other, net	1		5		(4)
Operating Income	553		529		24
Other Income and Expenses, net	44		41		3
Interest Expense	147		137		10
Income Before Income Taxes	450		433		17
Income Tax Expense	25		68		(43)
Net Income	$	425	$	365	$	60

The following table shows the percent changes in GWh sales and average number of customers. The percentages for retail customer classes represent billed sales only. Total sales includes billed and unbilled retail sales and wholesale sales to incorporated municipalities, public and private utilities and power marketers. Amounts are not weather-normalized.

Increase (Decrease) over prior period	2021
Residential sales	12.1	%
General service sales	4.1	%
Industrial sales	1.2	%
Wholesale power sales	9.4	%
Joint dispatch sales	(12.2)	%
Total sales	6.1	%
Average number of customers	2.0	%

Six Months Ended June 30, 2021, as compared to June 30, 2020

Operating Revenues. The variance was driven primarily by:

•a $56 million increase in retail sales due to better weather compared to prior year; and

•a $40 million increase in weather-normal retail sales volumes in the current year;

•a $25 million increase in fuel cost recovery driven by higher fuel prices and volumes in the current year;

•a $16 million increase in retail pricing due to the impacts of the prior year North Carolina rate case, partially offset by the return of the excess deferred income taxes (created by the reduction in the corporate income tax rate to 21%); and

•a $15 million increase in wholesale revenues due to higher capacity volumes, partially offset by lower recovery of coal ash costs.

Operating Expenses. The variance was driven primarily by:

•a $102 million increase in operation, maintenance and other expense primarily driven by the deferral of 2018 severance costs due to the partial settlement agreement with the Public Staff of the NCUC related to the 2019 North Carolina retail rate case recorded in 2020, increased energy efficiency program costs, outage costs and other employee-related costs;

•a $45 million increase in fuel used in electric generation and purchased power primarily due to higher demand and changes in generation mix as well as recognition of RECs used for compliance; and

•an $18 million increase in impairment of assets and other charges to optimize the company's real estate portfolio and reduce office space as parts of the business move to a hybrid and remote workforce strategy.

Partially offset by:

•a $23 million decrease in depreciation and amortization expense, primarily driven by the amortization of coal ash asset retirement obligations.

100

MD&A DUKE ENERGY PROGRESS

Interest Expense. The variance was driven primarily by lower debt return on coal ash projects.

Income Tax Expense. The decrease in tax expense was primarily due to an increase in the amortization of excess deferred taxes, partially offset by an increase in pretax income.

DUKE ENERGY FLORIDA

Results of Operations

	Six Months Ended June 30,
(in millions)	2021		2020		Variance
Operating Revenues	$	2,426	$	2,330	$	96
Operating Expenses
Fuel used in electric generation and purchased power	783		740		43
Operation, maintenance and other	497		514		(17)
Depreciation and amortization	405		340		65
Property and other taxes	185		180		5
Impairment of assets and other charges	19		—		19
Total operating expenses	1,889		1,774		115
Operating Income	537		556		(19)
Other Income and Expenses, net	36		25		11
Interest Expense	160		164		(4)
Income Before Income Taxes	413		417		(4)
Income Tax Expense	79		81		(2)
Net Income	$	334	$	336	$	(2)

The following table shows the percent changes in GWh sales and average number of customers. The percentages for retail customer classes represent billed sales only. Wholesale power sales include both billed and unbilled sales. Total sales includes billed and unbilled retail sales and wholesale sales to incorporated municipalities, public and private utilities and power marketers. Amounts are not weather-normalized.

Increase (Decrease) over prior period	2021
Residential sales	2.1	%
General service sales	3.0	%
Industrial sales	9.1	%
Wholesale and other	19.5	%
Total sales	1.7	%
Average number of customers	1.9	%

Six Months Ended June 30, 2021, as compared to June 30, 2020

Operating Revenues. The variance was driven primarily by:

•a $98 million increase in fuel and capacity revenues primarily due to higher retail sales volumes and accelerated recovery of the retired coal units Crystal River 1 and 2;

•a $40 million increase in retail pricing due to base rate adjustments related to annual increases from the 2017 Settlement Agreement and the solar base rate adjustment;

•a $30 million increase in weather-normal retail sales volumes;

•a $15 million increase in rider revenues primarily due to increased volumes; and

•a $13 million increase in other revenues primarily due lower revenues in the prior year due to the moratorium on customer late payments and service charges in response to the COVID-19 pandemic, and lower outdoor lighting equipment rentals.

Partially offset by:

•a $55 million decrease in storm revenues due to full recovery of Hurricane Dorian costs in the prior year;

•a $26 million decrease in retail sales, net of fuel revenues, due to unfavorable weather in the current year; and

•a $19 million decrease in wholesale power revenues, net of fuel, primarily due to a restructured capacity contract.

101

MD&A DUKE ENERGY FLORIDA

Operating Expenses. The variance was driven primarily by:

•a $65 million increase in depreciation and amortization primarily due to accelerated depreciation of retired coal units Crystal River 1 and 2 and an increase in plant base;

•a $43 million increase in fuel used in electric generation and purchased power primarily due to higher natural gas prices, and outside fuel purchases during a major plant outage at the Hines facility; and

•a $19 million increase in impairment of assets and other charges to optimize the company's real estate portfolio and reduce office space as parts of the business move to a hybrid and remote workforce strategy.

Partially offset by:

•a $17 million decrease in operation, maintenance and other expense primarily due to decreased storm amortization costs, partially offset by outage maintenance costs at Hines.

Other Income and Expense, net. The increase is primarily due to lower non-service pension costs and gains on the nuclear decommissioning trust fund.

DUKE ENERGY OHIO

Results of Operations

	Six Months Ended June 30,
(in millions)	2021		2020		Variance
Operating Revenues
Regulated electric	$	706	$	676	$	30
Regulated natural gas	282		245		37
Total operating revenues	988		921		67
Operating Expenses
Fuel used in electric generation and purchased power	175		164		11
Cost of natural gas	67		43		24
Operation, maintenance and other	219		218		1
Depreciation and amortization	149		136		13
Property and other taxes	175		161		14
Impairment of assets and other charges	5		—		5
Total operating expenses	790		722		68
Operating Income	198		199		(1)
Other Income and Expenses, net	10		7		3
Interest Expense	53		49		4
Income Before Income Taxes	155		157		(2)
Income Tax Expense	25		26		(1)
Net Income	$	130	$	131	$	(1)

The following table shows the percent changes in GWh sales of electricity, dekatherms of natural gas delivered and average number of electric and natural gas customers. The percentages for retail customer classes represent billed sales only. Total sales includes billed and unbilled retail sales and wholesale sales to incorporated municipalities, public and private utilities and power marketers. Amounts are not weather-normalized.

	Electric		Natural Gas
Increase (Decrease) over prior year	2021		2021
Residential sales	5.5	%	7.6	%
General service sales	3.6	%	10.0	%
Industrial sales	4.9	%	2.6	%
Wholesale electric power sales	240.3	%	n/a
Other natural gas sales	n/a		0.5	%
Total sales	5.9	%	6.3	%
Average number of customers	0.6	%	0.8	%

Six Months Ended June 30, 2021, as compared to June 30, 2020

Operating Revenues. The variance was driven primarily by:

•a $15 million increase in fuel related revenues primarily due to higher gas prices and increased volumes;

•a $14 million increase in PJM transmission revenues as a result of increased capital spend;

•a $14 million increase in revenues related to OVEC collections and OVEC sales into PJM;

102

MD&A DUKE ENERGY OHIO

•a $10 million increase in retail pricing primarily due to the Duke Energy Kentucky general rate case;

•a $9 million increase in revenues from the CEP rider;

•a $7 million increase in bulk power marketing sales; and

•a $6 million increase in revenues due to favorable weather.

Partially offset by:

•a $15 million decrease in retail revenue riders primarily due to the suspension of the Ohio energy efficiency rider, an adjustment to the Distribution Decoupling Rider and a decrease in the Kentucky gas weather normalization rider, partially offset by an increase in the distribution capital investment rider due to an increase in capital spend.

Operating Expenses. The variance was driven primarily by:

•a $35 million increase in fuel expense primarily driven by higher retail prices and increased volumes for natural gas;

•a $14 million increase in property and other taxes primarily due to increased property taxes due to increased plant in service, higher kilowatt and natural gas distribution taxes due to increased usage and a lower Network Integration Transmission Service tax deferral;

•a $13 million increase in depreciation and amortization primarily driven by an increase in distribution plant; and

•a $5 million increase in impairment of assets and other charges to optimize the company's real estate portfolio and reduce office space as parts of the business moves to a hybrid and remote workforce strategy.

DUKE ENERGY INDIANA

Results of Operations

	Six Months Ended June 30,
(in millions)	2021		2020		Variance
Operating Revenues	$	1,480	$	1,309	$	171
Operating Expenses
Fuel used in electric generation and purchased power	418		355		63
Operation, maintenance and other	370		357		13
Depreciation and amortization	304		266		38
Property and other taxes	41		42		(1)
Impairment of assets and other charges	8		—		8
Total operating expenses	1,141		1,020		121
Losses on Sales of Other Assets and Other, net	(1)		—		(1)
Operating Income	338		289		49
Other Income and Expenses, net	19		19		—
Interest Expense	99		85		14
Income Before Income Taxes	258		223		35
Income Tax Expense	43		43		—
Net Income	$	215	$	180	$	35

The following table shows the percent changes in GWh sales and average number of customers. The percentages for retail customer classes represent billed sales only. Total sales includes billed and unbilled retail sales and wholesale sales to incorporated municipalities, public and private utilities and power marketers. Amounts are not weather-normalized.

Increase (Decrease) over prior year	2021
Residential sales	5.0	%
General service sales	3.8	%
Industrial sales	6.6	%
Wholesale power sales	11.4	%
Total sales	5.0	%
Average number of customers	1.1	%

103

MD&A DUKE ENERGY INDIANA

Six Months Ended June 30, 2021, as compared to June 30, 2020

Operating Revenues. The variance was driven primarily by:

•an $86 million increase primarily due to higher base rate pricing from the Indiana retail rate case, net of lower rider revenues;

•a $56 million increase in fuel revenues primarily due to higher fuel cost recovery driven by customer demand and fuel prices; and

•a $12 million increase in weather-normal retail sales volumes driven by higher nonresidential customer demand.

Operating Expenses. The variance was driven primarily by:

•a $63 million increase in fuel used in electric generation and purchased power expense primarily due to higher purchased power expense, higher coal and natural gas costs and higher amortization of deferred fuel costs;

•a $38 million increase in depreciation and amortization primarily due to a change in depreciation rates from the Indiana retail rate case and additional plant in service;

•a $13 million increase in operation, maintenance and other primarily due to higher employee-related expenses and vegetation management costs; and

•an $8 million increase in impairment of assets and other charges to optimize the company’s real estate portfolio and reduce office space as parts of the business move to a hybrid workforce strategy.

Interest Expense. The variance was driven by higher post-in-service carrying costs interest resulting from the Indiana retail rate case, partially offset by lower interest rates.

PIEDMONT

Results of Operations

	Six Months Ended June 30,
(in millions)	2021		2020		Variance
Operating Revenues	$	821	$	709	$	112
Operating Expenses
Cost of natural gas	288		215		73
Operation, maintenance and other	154		159		(5)
Depreciation and amortization	99		88		11
Property and other taxes	28		24		4
Impairment of assets and other charges	5		—		5
Total operating expenses	574		486		88
Operating Income	247		223		24
Other Income and Expenses, net	35		28		7
Interest Expense	59		60		(1)
Income Before Income Taxes	223		191		32
Income Tax Expense	24		11		13
Net Income	$	199	$	180	$	19

The following table shows the percent changes in dekatherms delivered and average number of customers. The percentages for all throughput deliveries represent billed and unbilled sales. Amounts are not weather-normalized.

Increase (Decrease) over prior year	2021
Residential deliveries	16.3	%
Commercial deliveries	13.6	%
Industrial deliveries	5.4	%
Power generation deliveries	(1.2)	%
For resale	25.8	%
Total throughput deliveries	4.2	%
Secondary market volumes	0.6	%
Average number of customers	2.2	%

The margin decoupling mechanism adjusts for variations in residential and commercial use per customer, including those due to weather and conservation. The weather normalization adjustment mechanisms mostly offset the impact of weather on bills rendered, but do not ensure full recovery of approved margin during periods when winter weather is significantly warmer or colder than normal.

104

MD&A PIEDMONT

Six Months Ended June 30, 2021, as compared to June 30, 2020

Operating Revenues. The variance was driven primarily by:

•a $73 million increase due to higher natural gas costs passed through to customers, higher volumes, and higher off-system sales natural gas costs;

•a $14 million increase due to Tennessee base rate case increases; and

•a $10 million increase due to North Carolina IMR.

Operating Expenses. The variance was driven primarily by:

•a $73 million increase in cost of natural gas due to higher natural gas prices, higher volumes, and higher off-system sales natural gas costs; and

•an $11 million increase in depreciation due to additional plant in service and late in-service software projects.

Other Income and Expense, net. The variance is primarily driven by favorable AFUDC equity and intercompany interest income.

Income Tax Expense. The increase in tax expense was primarily due to an increase in pretax income and a decrease in AFUDC Equity.

LIQUIDITY AND CAPITAL RESOURCES

Sources and Uses of Cash

Duke Energy relies primarily upon cash flows from operations, debt and equity issuances and its existing cash and cash equivalents to fund its liquidity and capital requirements. Duke Energy’s capital requirements arise primarily from capital and investment expenditures, repaying long-term debt and paying dividends to shareholders. Duke Energy’s Annual Report on Form 10-K for the year ended December 31, 2020, included a summary and detailed discussion of projected primary sources and uses of cash for 2021 to 2023.

In January 2021, Duke Energy entered into a definitive agreement with an affiliate of GIC, for GIC to make a minority interest investment of 19.9% in Duke Energy Indiana. The investment will be completed following two closings for an aggregate investment amount of approximately $2 billion. The first closing is expected to be completed in the second half of 2021 and Duke Energy will issue 11.1% of the membership interests in exchange for 50% of the total investment amount. Duke Energy has the discretion to determine the timing of the second closing, but the closing will occur no later than January 2023. At the second closing, Duke Energy will issue additional membership interests, so GIC's minority interest ownership is 19.9% of Duke Energy Indiana, for the remaining 50% of the total investment amount. Proceeds from the minority interest investment are expected to address common equity needs through 2025 to partially fund Duke Energy's $59 billion capital and investment expenditure plan.

As of June 30, 2021, Duke Energy had approximately $367 million of cash on hand, $5.1 billion available under its $8 billion Master Credit Facility and $500 million available under the $1 billion Three-Year Revolving Credit Facility. Duke Energy expects to have sufficient liquidity in the form of cash on hand, cash from operations and available credit capacity to support its funding needs. Refer to Note 5 to the Condensed Consolidated Financial Statements, "Debt and Credit Facilities," for information regarding Duke Energy's debt issuances and maturities, and available credit facilities including the Master Credit Facility.

Credit Ratings

In March 2021, Moody's Investors Services, Inc. (Moody's) downgraded by one notch the long-term credit ratings for Duke Energy (Parent) and Duke Energy Carolinas. The downgrade reflects Duke Energy's balance sheet objectives. The downgrade for Duke Energy (Parent) and Duke Energy Carolinas also considers the impact for Duke Energy Carolinas and Duke Energy Progress as a result of the 2019 rate case orders and approval of the CCR Settlement Agreement. While these agreements are indicative of a regulatory environment that remains broadly supportive of utility credit quality, their financial terms resulted in current impairment charges and lowered the amount of future cash flow Duke Energy Carolinas and Duke Energy Progress will receive in conjunction with their coal ash remediation spending. As part of the credit rating action, Moody's affirmed Duke Energy's (Parent) short-term and commercial paper credit ratings and confirmed the credit ratings for Duke Energy Progress. Following a January 2021, credit rating downgrade of Duke Energy (Parent) and its subsidiaries, Standard & Poor's Rating Services continues to maintain a stable outlook on Duke Energy Corporation and its subsidiaries as of June 30, 2021.

Cash Flow Information

The following table summarizes Duke Energy’s cash flows.

	Six Months Ended
	June 30,
(in millions)	2021		2020
Cash flows provided by (used in):
Operating activities	$	3,873	$	3,357
Investing activities	(5,614)		(5,471)
Financing activities	1,750		2,182
Net increase in cash, cash equivalents and restricted cash	9		68
Cash, cash equivalents and restricted cash at beginning of period	556		573
Cash, cash equivalents and restricted cash at end of period	$	565	$	641

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MD&A LIQUIDITY AND CAPITAL RESOURCES

OPERATING CASH FLOWS

The following table summarizes key components of Duke Energy’s operating cash flows.

	Six Months Ended
	June 30,
(in millions)	2021		2020		Variance
Net income	$	1,639	$	(2)	$	1,641
Non-cash adjustments to net income	2,915		4,600		(1,685)
Payments for asset retirement obligations	(263)		(287)		24
Working capital	(418)		(954)		536
Net cash provided by operating activities	$	3,873	$	3,357	$	516

The variance was primarily due to decreases in coal stock balances, incentive payments and the timing of payments.

INVESTING CASH FLOWS

The following table summarizes key components of Duke Energy’s investing cash flows.

	Six Months Ended
	June 30,
(in millions)	2021		2020		Variance
Capital, investment and acquisition expenditures	$	(4,657)	$	(5,267)	$	610
Other investing items	(957)		(204)		(753)
Net cash used in investing activities	$	(5,614)	$	(5,471)	$	(143)

The variance relates primarily to payment made to fund ACP's outstanding debt, partially offset by decreases in capital expenditures due to lower overall investments in the Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables segments.

FINANCING CASH FLOWS

The following table summarizes key components of Duke Energy’s financing cash flows.

	Six Months Ended
	June 30,
(in millions)	2021		2020		Variance
Issuances of long-term debt, net	$	2,625	$	1,837	$	788
Issuances of common stock	5		57		(52)
Notes payable, commercial paper and other short-term borrowings	415		1,624		(1,209)
Dividends paid	(1,541)		(1,391)		(150)
Contributions from noncontrolling interests	318		163		155
Other financing items	(72)		(108)		36
Net cash provided by financing activities	$	1,750	$	2,182	$	(432)

The variance was primarily due to:

•a $1,209 million decrease in net proceeds from issuances of notes payable and commercial paper.

Partially offset by:

•a $788 million increase in proceeds from net issuances of long-term debt primarily due to the timing of issuances and redemptions of long-term debt.

OTHER MATTERS

Environmental Regulations

The Duke Energy Registrants are subject to federal, state and local regulations regarding air and water quality, hazardous and solid waste disposal, coal ash and other environmental matters. These regulations can be changed from time to time and result in new obligations of the Duke Energy Registrants. Refer to Note 3 to the Condensed Consolidated Financial Statements, "Regulatory Matters," for further information regarding potential plant retirements and regulatory filings related to the Duke Energy Registrants.

106

MD&A OTHER MATTERS

Off-Balance Sheet Arrangements

During the three and six months ended June 30, 2021, there were no material changes to Duke Energy’s off-balance sheet arrangements. For additional information on Duke Energy’s off-balance sheet arrangements, see “Off-Balance Sheet Arrangements” in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Duke Energy’s Annual Report on Form 10-K for the year ended December 31, 2020.

Contractual Obligations

Duke Energy enters into contracts that require payment of cash at certain specified periods, based on certain specified minimum quantities and prices. During the three and six months ended June 30, 2021, there were no material changes in Duke Energy's contractual obligations. For an in-depth discussion of Duke Energy’s contractual obligations, see “Contractual Obligations” and “Quantitative and Qualitative Disclosures about Market Risk” in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Duke Energy’s Annual Report on Form 10-K for the year ended December 31, 2020.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

For an in-depth discussion of the Duke Energy Registrants' market risks, see “Quantitative and Qualitative Disclosures about Market Risk” in Item 7 of the Annual Report on Form 10-K for the Duke Energy Registrants. During the three and six months ended June 30, 2021, there were no material changes to the Duke Energy Registrants' disclosures about market risk.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed by the Duke Energy Registrants in the reports they file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified by the SEC rules and forms.

Disclosure controls and procedures include, without limitation, controls and procedures designed to provide reasonable assurance that information required to be disclosed by the Duke Energy Registrants in the reports they file or submit under the Exchange Act is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Duke Energy Registrants have evaluated the effectiveness of their disclosure controls and procedures (as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of June 30, 2021, and, based upon this evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that these controls and procedures are effective in providing reasonable assurance of compliance.

Changes in Internal Control over Financial Reporting

During the second quarter of 2021, Duke Energy Carolinas implemented Customer Connect, an SAP based customer engagement and billing solution. As a result of this implementation, we modified certain existing internal controls and implemented new controls and procedures related to Customer Connect. We do not believe this implementation will have an adverse effect on our internal control over financial reporting and will continue to evaluate the design and operating effectiveness of these internal controls.

Other than with respect to the Customer Connect SAP implementation, there were no other changes in our internal control over financial reporting during the quarter ended June 30, 2021 that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

107

OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

For information regarding material legal proceedings, including regulatory and environmental matters, see Note 3, "Regulatory Matters," and Note 4, "Commitments and Contingencies," to the Condensed Consolidated Financial Statements. For additional information, see Item 3, "Legal Proceedings," in Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2020.

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this report, careful consideration should be given to the factors discussed in Part I, “Item 1A. Risk Factors” in the Duke Energy Registrants' Annual Report on Form 10-K for the year ended December 31, 2020, which could materially affect the Duke Energy Registrants’ financial condition or future results. The information presented below updates, and should be read in conjunction with, the risk factors and information disclosed in the Annual Report on Form 10-K for the year ended December 31, 2020.

Our business could be negatively affected as a result of actions of activist shareholders.

On May 17, 2021, Elliott who has indicated it holds an economic interest in our outstanding common stock, publicly released a letter it had sent to our Board. On July 19, 2021, Elliott issued a follow-up letter to our Board.

While we strive to maintain constructive communications with our shareholders, activist shareholders may, from time to time, engage in proxy solicitations or advance shareholder proposals, or otherwise attempt to affect changes and assert influence on our Board and management. Perceived uncertainties as to the future direction or governance of the company may cause concern to our current or potential regulators, vendors or strategic partners, or make it more difficult to execute on our strategy or to attract and retain qualified personnel, which may have a material impact on our business and operating results.

In addition, actions such as those described above could cause fluctuations in the trading price of our common stock, based on temporary or speculative market perceptions or other factors that do not necessarily reflect the underlying fundamentals and prospects of our business.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

108

EXHIBITS

ITEM 6. EXHIBITS

Exhibits filed herein are designated by an asterisk (*). All exhibits not so designated are incorporated by reference to a prior filing, as indicated. Items constituting management contracts or compensatory plans or arrangements are designated by a double asterisk (**). The company agrees to furnish upon request to the commission a copy of any omitted schedules or exhibits upon request on all items designated by a triple asterisk (***).

			Duke		Duke	Duke	Duke	Duke
Exhibit		Duke	Energy	Progress	Energy	Energy	Energy	Energy
Number		Energy	Carolinas	Energy	Progress	Florida	Ohio	Indiana	Piedmont
4.1	Twenty-fifth Supplemental Indenture, dated as of June 10, 2021 (incorporated by reference to Exhibit 4.1 to registrant's Current Report on Form 8-K filed on June 10, 2021, File No. 1-32853).	X
4.2	One-hundred and fifth Supplemental Indenture, dated as of April 1, 2021 (incorporated by reference to Exhibit 4.1 to registrant's Current Report on Form 8-K filed on April 1, 2021, File No. 1-4928).		X
*31.1.1	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.	X
*31.1.2	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.		X
*31.1.3	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.			X
*31.1.4	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.				X
*31.1.5	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.					X
*31.1.6	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.						X
*31.1.7	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.							X
*31.1.8	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.								X
*31.2.1	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.	X
*31.2.2	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.		X
*31.2.3	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.			X
*31.2.4	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.				X
*31.2.5	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.					X
*31.2.6	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.						X
*31.2.7	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.							X
*31.2.8	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.								X

109

EXHIBITS

*32.1.1	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	X
*32.1.2	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.		X
*32.1.3	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.			X
*32.1.4	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.				X
*32.1.5	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.					X
*32.1.6	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.						X
*32.1.7	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.							X
*32.1.8	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.								X
*32.2.1	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	X
*32.2.2	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.		X
*32.2.3	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.			X
*32.2.4	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.				X
*32.2.5	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.					X
*32.2.6	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.						X
*32.2.7	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.							X
*32.2.8	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.								X
*101.INS	XBRL Instance Document (this does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).	X	X	X	X	X	X	X	X
*101.SCH	XBRL Taxonomy Extension Schema Document.	X	X	X	X	X	X	X	X
*101.CAL	XBRL Taxonomy Calculation Linkbase Document.	X	X	X	X	X	X	X	X
*101.LAB	XBRL Taxonomy Label Linkbase Document.	X	X	X	X	X	X	X	X

110

EXHIBITS

*101.PRE	XBRL Taxonomy Presentation Linkbase Document.	X	X	X	X	X	X	X	X
*101.DEF	XBRL Taxonomy Definition Linkbase Document.	X	X	X	X	X	X	X	X
*104	Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101).	X	X	X	X	X	X	X	X

The total amount of securities of the registrant or its subsidiaries authorized under any instrument with respect to long-term debt not filed as an exhibit does not exceed 10% of the total assets of the registrant and its subsidiaries on a consolidated basis. The registrant agrees, upon request of the SEC, to furnish copies of any or all of such instruments to it.

111

SIGNATURES

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.

		DUKE ENERGY CORPORATION DUKE ENERGY CAROLINAS, LLC PROGRESS ENERGY, INC. DUKE ENERGY PROGRESS, LLC DUKE ENERGY FLORIDA, LLC DUKE ENERGY OHIO, INC. DUKE ENERGY INDIANA, LLC PIEDMONT NATURAL GAS COMPANY, INC.
Date:	August 5, 2021	/s/ STEVEN K. YOUNG
		Steven K. Young Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date:	August 5, 2021	/s/ CYNTHIA S. LEE
		Cynthia S. Lee Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer)

112

EX-31.1.1

EXHIBIT 31.1.1

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lynn J. Good, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Corporation;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ LYNN J. GOOD

Lynn J. Good
Chair, President and
Chief Executive Officer

EX-31.1.2

EXHIBIT 31.1.2

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lynn J. Good, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Carolinas, LLC;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

EX-31.1.3

EXHIBIT 31.1.3

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lynn J. Good, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Progress Energy, Inc.;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

EX-31.1.4

EXHIBIT 31.1.4

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lynn J. Good, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Progress, LLC;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

EX-31.1.5

EXHIBIT 31.1.5

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lynn J. Good, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Florida, LLC;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

EX-31.1.6

EXHIBIT 31.1.6

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lynn J. Good, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Ohio, Inc.;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

EX-31.1.7

EXHIBIT 31.1.7

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lynn J. Good, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Indiana, LLC;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

EX-31.1.8

EXHIBIT 31.1.8

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lynn J. Good, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Piedmont Natural Gas Company, Inc.;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

EX-31.2.1

EXHIBIT 31.2.1

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven K. Young, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Corporation;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

EX-31.2.2

EXHIBIT 31.2.2

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven K. Young, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Carolinas, LLC;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

EX-31.2.3

EXHIBIT 31.2.3

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven K. Young, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Progress Energy, Inc.;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer 

EX-31.2.4

EXHIBIT 31.2.4

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven K. Young, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Progress, LLC;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

EX-31.2.5

EXHIBIT 31.2.5

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven K. Young, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Florida, LLC;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

EX-31.2.6

EXHIBIT 31.2.6

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven K. Young, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Ohio, Inc.;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

EX-31.2.7

EXHIBIT 31.2.7

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven K. Young, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Duke Energy Indiana, LLC;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

EX-31.2.8

EXHIBIT 31.2.8

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven K. Young, certify that:

1)    I have reviewed this quarterly report on Form 10-Q of Piedmont Natural Gas Company, Inc.;

2)    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4)    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Acts Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 5, 2021

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer 

EX-32.1.1

EXHIBIT 32.1.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Corporation (“Duke Energy”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lynn J. Good, Chair, President and Chief Executive Officer of Duke Energy, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy.

/s/ LYNN J. GOOD

Lynn J. Good
Chair, President and
Chief Executive Officer

August 5, 2021

EX-32.1.2

EXHIBIT 32.1.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Carolinas, LLC (“Duke Energy Carolinas”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lynn J. Good, Chief Executive Officer of Duke Energy Carolinas, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Carolinas.

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

August 5, 2021

EX-32.1.3

EXHIBIT 32.1.3

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Progress Energy, Inc. (“Progress Energy”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lynn J. Good, Chief Executive Officer of Progress Energy, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Progress Energy.

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

August 5, 2021

EX-32.1.4

EXHIBIT 32.1.4

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Progress, LLC (“Duke Energy Progress”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lynn J. Good, Chief Executive Officer of Duke Energy Progress, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Progress.

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

August 5, 2021

EX-32.1.5

EXHIBIT 32.1.5

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Florida, LLC (“Duke Energy Florida”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lynn J. Good, Chief Executive Officer of Duke Energy Florida, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Florida.

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

August 5, 2021

EX-32.1.6

EXHIBIT 32.1.6

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Ohio, Inc. (“Duke Energy Ohio”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lynn J. Good, Chief Executive Officer of Duke Energy Ohio, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Ohio.

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

August 5, 2021

EX-32.1.7

EXHIBIT 32.1.7

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Indiana, LLC (“Duke Energy Indiana”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lynn J. Good, Chief Executive Officer of Duke Energy Indiana, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Indiana.

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

August 5, 2021

EX-32.1.8

EXHIBIT 32.1.8

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Piedmont Natural Gas Company, Inc. (“Piedmont”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lynn J. Good, Chief Executive Officer of Piedmont, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Piedmont.

/s/ LYNN J. GOOD

Lynn J. Good
Chief Executive Officer

August 5, 2021

EX-32.2.1

EXHIBIT 32.2.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Corporation (“Duke Energy”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven K. Young, Executive Vice President and Chief Financial Officer of Duke Energy, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy.

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

August 5, 2021

EX-32.2.2

EXHIBIT 32.2.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Carolinas, LLC (“Duke Energy Carolinas”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven K. Young, Executive Vice President and Chief Financial Officer of Duke Energy Carolinas, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Carolinas.

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

August 5, 2021

EX-32.2.3

EXHIBIT 32.2.3

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Progress Energy, Inc. (“Progress Energy”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven K. Young, Executive Vice President and Chief Financial Officer of Progress Energy, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Progress Energy.

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

August 5, 2021

EX-32.2.4

EXHIBIT 32.2.4

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Progress, LLC (“Duke Energy Progress”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven K. Young, Executive Vice President and Chief Financial Officer of Duke Energy Progress, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Progress.

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

August 5, 2021

EX-32.2.5

EXHIBIT 32.2.5

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Florida, LLC (“Duke Energy Florida”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven K. Young, Executive Vice President and Chief Financial Officer of Duke Energy Florida, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Florida.

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

August 5, 2021

EX-32.2.6

EXHIBIT 32.2.6

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Ohio, Inc. (“Duke Energy Ohio”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven K. Young, Executive Vice President and Chief Financial Officer of Duke Energy Ohio, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Ohio.

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

August 5, 2021

EX-32.2.7

EXHIBIT 32.2.7

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Duke Energy Indiana, LLC (“Duke Energy Indiana”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven K. Young, Executive Vice President and Chief Financial Officer of Duke Energy Indiana, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Duke Energy Indiana.

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

August 5, 2021

EX-32.2.8

EXHIBIT 32.2.8

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Piedmont Natural Gas Company, Inc. (“Piedmont”) on Form 10-Q for the period ending June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven K. Young, Executive Vice President and Chief Financial Officer of Piedmont, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Piedmont.

/s/ STEVEN K. YOUNG

Steven K. Young
Executive Vice President and Chief Financial Officer

August 5, 2021

XML

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 31, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	1-32853
Entity Registrant Name	DUKE ENERGY CORPORATION
Entity Tax Identification Number	20-2777218
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	550 South Tryon Street
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28202-1803
City Area Code	704
Local Phone Number	382-3853
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		769,337,598
Entity Central Index Key	0001326160
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Duke Energy Carolinas
Document Information [Line Items]
Entity File Number	1-4928
Entity Registrant Name	DUKE ENERGY CAROLINAS, LLC
Entity Tax Identification Number	56-0205520
Entity Incorporation, State or Country Code	NC
Entity Address, Address Line One	526 South Church Street
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28202-1803
City Area Code	704
Local Phone Number	382-3853
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000030371
Current Fiscal Year End Date	--12-31
Progress Energy
Document Information [Line Items]
Entity File Number	1-15929
Entity Registrant Name	PROGRESS ENERGY, INC.
Entity Tax Identification Number	56-2155481
Entity Incorporation, State or Country Code	NC
Entity Address, Address Line One	410 South Wilmington Street
Entity Address, City or Town	Raleigh
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27601-1748
City Area Code	704
Local Phone Number	382-3853
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001094093
Current Fiscal Year End Date	--12-31
Duke Energy Progress
Document Information [Line Items]
Entity File Number	1-3382
Entity Registrant Name	DUKE ENERGY PROGRESS, LLC
Entity Tax Identification Number	56-0165465
Entity Incorporation, State or Country Code	NC
Entity Address, Address Line One	410 South Wilmington Street
Entity Address, City or Town	Raleigh
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27601-1748
City Area Code	704
Local Phone Number	382-3853
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000017797
Current Fiscal Year End Date	--12-31
Duke Energy Florida
Document Information [Line Items]
Entity File Number	1-3274
Entity Registrant Name	DUKE ENERGY FLORIDA, LLC
Entity Tax Identification Number	59-0247770
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	299 First Avenue North
Entity Address, City or Town	St. Petersburg
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33701
City Area Code	704
Local Phone Number	382-3853
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000037637
Current Fiscal Year End Date	--12-31
Duke Energy Ohio
Document Information [Line Items]
Entity File Number	1-1232
Entity Registrant Name	DUKE ENERGY OHIO, INC.
Entity Tax Identification Number	31-0240030
Entity Incorporation, State or Country Code	OH
Entity Address, Address Line One	139 East Fourth Street
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	704
Local Phone Number	382-3853
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000020290
Current Fiscal Year End Date	--12-31
Duke Energy Indiana
Document Information [Line Items]
Entity File Number	1-3543
Entity Registrant Name	DUKE ENERGY INDIANA, LLC
Entity Tax Identification Number	35-0594457
Entity Incorporation, State or Country Code	IN
Entity Address, Address Line One	1000 East Main Street
Entity Address, City or Town	Plainfield
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46168
City Area Code	704
Local Phone Number	382-3853
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000081020
Current Fiscal Year End Date	--12-31
Piedmont
Document Information [Line Items]
Entity File Number	1-6196
Entity Registrant Name	PIEDMONT NATURAL GAS COMPANY, INC.
Entity Tax Identification Number	56-0556998
Entity Incorporation, State or Country Code	NC
Entity Address, Address Line One	4720 Piedmont Row Drive
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28210
City Area Code	704
Local Phone Number	364-3120
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000078460
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	DUK
Security Exchange Name	NYSE
Junior Subordinated Debentures 5.125% Coupon Due January 2073
Document Information [Line Items]
Title of 12(b) Security	5.125% Junior Subordinated Debentures
Trading Symbol	DUKH
Security Exchange Name	NYSE
Junior Subordinated Debentures 5.625% Coupon Due September 2078
Document Information [Line Items]
Title of 12(b) Security	5.625% Junior Subordinated Debentures
Trading Symbol	DUKB
Security Exchange Name	NYSE
Depositary Share
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares
Trading Symbol	DUK PR A
Security Exchange Name	NYSE

XML

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating Revenues
Regulated electric		$ 5,258	$ 4,963	$ 10,477	$ 10,087
Regulated natural gas		302	263	1,051	901
Nonregulated electric and other		198	195	380	382
Total operating revenues		5,758	5,421	11,908	11,370
Operating Expenses
Operation, maintenance and other		1,410	1,353	2,812	2,692
Depreciation and amortization		1,207	1,150	2,433	2,280
Property and other taxes		349	334	702	679
Impairment of assets and other charges		131	6	131	8
Total operating expenses		4,591	4,251	9,291	8,713
Gains (Losses) on Sales of Other Assets and Other, net		2	7	2	8
Operating Income		1,169	1,177	2,619	2,665
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates		9	(1,968)	(8)	(1,924)
Other income and expenses, net		128	137	255	183
Total other income and expenses		137	(1,831)	247	(1,741)
Interest Expense		572	554	1,107	1,105
Income (Loss) Before Income Taxes		734	(1,208)	1,759	(181)
Income Tax Expense (Benefit)		36	(316)	120	(179)
Net Income (Loss)		698	(892)	1,639	(2)
Add: Net Loss Attributable to Noncontrolling Interests		67	90	118	138
Net Income and Comprehensive Income		765	(802)	1,757	136
Less: Preferred Dividends		14	15	53	54
Net Income (Loss) Available to Duke Energy Corporation Common Stockholders		751	(817)	1,704	82
Other Comprehensive Income (Loss), net of tax
Pension and OPEB adjustments	[1]		(1)	2
Net unrealized (losses) gains on cash flow hedges	[1]	(97)	5	(68)	(76)
Unrealized gains (losses) on available-for-sale securities	[1]	4	6	(4)	7
Other Comprehensive (Loss) Income, net of tax	[1]	(89)	12	(63)	(65)
Comprehensive Income (Loss)		609	(880)	1,576	(67)
Comprehensive Income (Loss) Attributable to Duke Energy		$ 677	$ (792)	$ 1,688	$ 83
Net income (loss) attributable to Duke Energy Corporation common stockholders
Basic (in usd per share)		$ 0.96	$ (1.13)	$ 2.21	$ 0.11
Diluted (in usd per share)		$ 0.96	$ (1.13)	$ 2.21	$ 0.11
Weighted Average Shares Outstanding
Basic (in shares)		769	735	769	734
Diluted (in shares)		769	735	769	735
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	[1]	$ 4	$ 2	$ 7	$ 4
Duke Energy Carolinas
Operating Revenues
Total operating revenues		1,610	1,610	3,326	3,358
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		344	376	766	829
Operation, maintenance and other		435	430	876	816
Depreciation and amortization		363	375	722	718
Property and other taxes		74	75	157	156
Impairment of assets and other charges		75		75	2
Total operating expenses		1,291	1,256	2,596	2,521
Gains (Losses) on Sales of Other Assets and Other, net		2	(1)	2
Operating Income		321	353	732	837
Other Income and Expenses
Total other income and expenses		44	43	92	86
Interest Expense		139	125	263	248
Income (Loss) Before Income Taxes		226	271	561	675
Income Tax Expense (Benefit)		1	37	24	102
Net Income and Comprehensive Income		225	234	537	573
Progress Energy
Operating Revenues
Total operating revenues		2,679	2,498	5,184	4,920
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		833	777	1,628	1,540
Operation, maintenance and other		626	589	1,227	1,143
Depreciation and amortization		441	432	926	884
Property and other taxes		133	137	275	272
Impairment of assets and other charges		37		37
Total operating expenses		2,070	1,935	4,093	3,839
Gains (Losses) on Sales of Other Assets and Other, net		1	7	1	6
Operating Income		610	570	1,092	1,087
Other Income and Expenses
Total other income and expenses		38	33	81	65
Interest Expense		200	199	392	405
Income (Loss) Before Income Taxes		448	404	781	747
Income Tax Expense (Benefit)		37	60	80	120
Net Income (Loss)		411	344	701	627
Other Comprehensive Income (Loss), net of tax
Pension and OPEB adjustments		1	1	1	1
Net unrealized (losses) gains on cash flow hedges			1	1	2
Unrealized gains (losses) on available-for-sale securities		1	(1)
Other Comprehensive (Loss) Income, net of tax		2	1	2	3
Comprehensive Income (Loss)		413	345	703	630
Duke Energy Progress
Operating Revenues
Total operating revenues		1,349	1,243	2,750	2,581
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		409	395	845	800
Operation, maintenance and other		367	317	724	622
Depreciation and amortization		236	257	521	544
Property and other taxes		41	44	90	91
Impairment of assets and other charges		18		18
Total operating expenses		1,071	1,013	2,198	2,057
Gains (Losses) on Sales of Other Assets and Other, net		1	6	1	5
Operating Income		279	236	553	529
Other Income and Expenses
Total other income and expenses		20	19	44	41
Interest Expense		78	68	147	137
Income (Loss) Before Income Taxes		221	187	450	433
Income Tax Expense (Benefit)		6	26	25	68
Net Income and Comprehensive Income		215	161	425	365
Duke Energy Florida
Operating Revenues
Total operating revenues		1,325	1,250	2,426	2,330
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		424	382	783	740
Operation, maintenance and other		255	269	497	514
Depreciation and amortization		205	175	405	340
Property and other taxes		92	92	185	180
Impairment of assets and other charges		19		19
Total operating expenses		995	918	1,889	1,774
Operating Income		330	332	537	556
Other Income and Expenses
Total other income and expenses		18	15	36	25
Interest Expense		80	80	160	164
Income (Loss) Before Income Taxes		268	267	413	417
Income Tax Expense (Benefit)		51	51	79	81
Net Income and Comprehensive Income		217	216	334	336
Other Comprehensive Income (Loss), net of tax
Unrealized gains (losses) on available-for-sale securities		1	(1)
Other Comprehensive (Loss) Income, net of tax		1	(1)
Comprehensive Income (Loss) Attributable to Duke Energy		218	215	334	336
Duke Energy Ohio
Operating Revenues
Regulated electric		343	330	706	676
Regulated natural gas		113	93	282	245
Total operating revenues		456	423	988	921
Operating Expenses
Operation, maintenance and other		111	95	219	218
Depreciation and amortization		75	68	149	136
Property and other taxes		83	78	175	161
Impairment of assets and other charges		5		5
Total operating expenses		383	324	790	722
Operating Income		73	99	198	199
Other Income and Expenses
Total other income and expenses		5	4	10	7
Interest Expense		28	25	53	49
Income (Loss) Before Income Taxes		50	78	155	157
Income Tax Expense (Benefit)		11	12	25	26
Net Income and Comprehensive Income		39	66	130	131
Duke Energy Indiana
Operating Revenues
Total operating revenues		735	617	1,480	1,309
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		201	161	418	355
Operation, maintenance and other		192	171	370	357
Depreciation and amortization		152	134	304	266
Property and other taxes		20	20	41	42
Impairment of assets and other charges		8		8
Total operating expenses		573	486	1,141	1,020
Gains (Losses) on Sales of Other Assets and Other, net		(1)		(1)
Operating Income		161	131	338	289
Other Income and Expenses
Total other income and expenses		10	9	19	19
Interest Expense		49	42	99	85
Income (Loss) Before Income Taxes		122	98	258	223
Income Tax Expense (Benefit)		19	17	43	43
Net Income and Comprehensive Income		103	81	215	180
Piedmont
Operating Revenues
Total operating revenues		215	197	821	709
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		63	53	288	215
Operation, maintenance and other		76	79	154	159
Depreciation and amortization		51	43	99	88
Property and other taxes		14	12	28	24
Impairment of assets and other charges		5		5
Total operating expenses		209	187	574	486
Operating Income		6	10	247	223
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates				4	4
Total other income and expenses		18	16	35	28
Interest Expense		30	33	59	60
Income (Loss) Before Income Taxes		(6)	(7)	223	191
Income Tax Expense (Benefit)		(2)	(9)	24	11
Net Income and Comprehensive Income		(4)	2	199	180
Fuel used in electric generation and purchased power
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		1,415	1,349	2,858	2,796
Fuel used in electric generation and purchased power | Duke Energy Ohio
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		93	77	175	164
Cost of natural gas
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		79	59	355	258
Cost of natural gas | Duke Energy Ohio
Operating Expenses
Fuel used in electric generation and purchased power/Cost of natural gas		$ 16	$ 6	$ 67	$ 43

[1] Net of income tax impacts of approximately $27 million for the three months ended June 30, 2021, and $19 million and $20 million for the six months ended June 30, 2021, and 2020, respectively. All other periods presented include immaterial income tax impacts.

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Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income (loss)		$ 698	$ (892)	$ 1,639	$ (2)
Other Comprehensive Loss, net of tax
Pension and OPEB adjustments	[1]		(1)	2
Net unrealized (losses) gains on cash flow hedges	[1]	(97)	5	(68)	(76)
Reclassification into earnings from cash flow hedges	[1]	4	2	7	4
Unrealized gains (losses) on available-for-sale securities	[1]	4	6	(4)	7
Other Comprehensive (Loss) Income, net of tax	[1]	(89)	12	(63)	(65)
Comprehensive Income (Loss)		609	(880)	1,576	(67)
Add: Comprehensive Loss Attributable to Noncontrolling Interests		68	88	112	150
Comprehensive Income (Loss) Attributable to Duke Energy		677	(792)	1,688	83
Less: Preferred Dividends		14	15	53	54
Comprehensive Income (Loss) Available to Duke Energy Corporation Common Stockholders		$ 663	$ (807)	$ 1,635	$ 29

[1] Net of income tax impacts of approximately $27 million for the three months ended June 30, 2021, and $19 million and $20 million for the six months ended June 30, 2021, and 2020, respectively. All other periods presented include immaterial income tax impacts.

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Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Other comprehensive income (loss), tax	$ 27	$ 19	$ 20

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Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Current Assets
Cash and cash equivalents	$ 367	$ 259
Receivables of VIEs (net of allowance for doubtful accounts)	868	1,009
Receivables (net of allowance for doubtful accounts)	2,220	2,144
Inventory	3,015	3,167
Regulatory assets (includes amounts related to VIEs)	1,793	1,641
Other (includes amounts related to VIEs)	722	462
Total current assets	8,985	8,682
Property, Plant and Equipment
Cost	158,272	155,580
Accumulated depreciation and amortization	(49,752)	(48,827)
Facilities to be retired, net	121	29
Net property, plant and equipment	108,641	106,782
Other Noncurrent Assets
Goodwill	19,303	19,303
Regulatory assets (includes amounts related to VIEs)	12,485	12,421
Nuclear decommissioning trust funds	9,886	9,114
Operating lease right-of-use assets, net	1,495	1,524
Investments in equity method unconsolidated affiliates	938	961
Other (includes amounts related to VIEs)	3,652	3,601
Total other noncurrent assets	47,759	46,924
Total Assets	165,385	162,388
Current Liabilities
Accounts payable	2,716	3,144
Notes payable and commercial paper	3,296	2,873
Taxes accrued	692	482
Interest accrued	537	537
Current maturities of long-term debt (includes amounts related to VIEs)	4,976	4,238
Asset retirement obligations	691	718
Regulatory liabilities	1,309	1,377
Other	1,994	2,936
Total current liabilities	16,211	16,305
Long-Term Debt (includes amounts related to VIEs)	57,410	55,625
Other Noncurrent Liabilities
Deferred income taxes	9,644	9,244
Asset retirement obligations	12,272	12,286
Regulatory liabilities	15,414	15,029
Operating lease liabilities	1,315	1,340
Accrued pension and other post-retirement benefit costs	995	969
Investment tax credits	770	687
Other (includes amounts related to VIEs)	1,809	1,719
Total other noncurrent liabilities	42,219	41,274
Commitments and Contingencies
Equity
Common stock	1	1
Additional paid-in capital	43,788	43,767
Retained earnings	2,687	2,471
Accumulated other comprehensive loss	(306)	(237)
Total Duke Energy Corporation stockholders' equity	48,132	47,964
Noncontrolling interests	1,413	1,220
Total equity	49,545	49,184	$ 46,611
Total Liabilities and Equity	165,385	162,388
Variable Interest Entity
Current Assets
Regulatory assets (includes amounts related to VIEs)	54	53
Other (includes amounts related to VIEs)	356	296
Other Noncurrent Assets
Regulatory assets (includes amounts related to VIEs)	914	937
Other (includes amounts related to VIEs)	89	81
Current Liabilities
Current maturities of long-term debt (includes amounts related to VIEs)	219	472
Long-Term Debt (includes amounts related to VIEs)	3,796	3,535
Other Noncurrent Liabilities
Other (includes amounts related to VIEs)	352	316
Duke Energy Carolinas
Current Assets
Cash and cash equivalents	36	21
Receivables of VIEs (net of allowance for doubtful accounts)	769	696
Receivables (net of allowance for doubtful accounts)	180	247
Receivables from affiliated companies	111	124
Inventory	1,013	1,010
Regulatory assets (includes amounts related to VIEs)	458	473
Other (includes amounts related to VIEs)	88	20
Total current assets	2,655	2,591
Property, Plant and Equipment
Cost	51,220	50,640
Accumulated depreciation and amortization	(17,709)	(17,453)
Facilities to be retired, net	93
Net property, plant and equipment	33,604	33,187
Other Noncurrent Assets
Regulatory assets (includes amounts related to VIEs)	2,970	2,996
Nuclear decommissioning trust funds	5,446	4,977
Operating lease right-of-use assets, net	100	110
Other (includes amounts related to VIEs)	1,238	1,187
Total other noncurrent assets	9,754	9,270
Total Assets	46,013	45,048
Current Liabilities
Accounts payable	675	1,000
Accounts payable to affiliated companies	195	199
Notes payable to affiliated companies	471	506
Taxes accrued	203	76
Interest accrued	125	117
Current maturities of long-term debt (includes amounts related to VIEs)	356	506
Asset retirement obligations	251	264
Regulatory liabilities	489	473
Other	425	546
Total current liabilities	3,190	3,687
Long-Term Debt (includes amounts related to VIEs)	12,250	11,412
Long-Term Debt Payable to Affiliated Companies	300	300
Other Noncurrent Liabilities
Deferred income taxes	3,937	3,842
Asset retirement obligations	5,116	5,086
Regulatory liabilities	6,810	6,535
Operating lease liabilities	87	97
Accrued pension and other post-retirement benefit costs	67	73
Investment tax credits	259	236
Other (includes amounts related to VIEs)	605	626
Total other noncurrent liabilities	16,881	16,495
Commitments and Contingencies
Equity
Member's equity	13,399	13,161
Accumulated other comprehensive loss	(7)	(7)
Member's Equity	13,392	13,154	13,072
Total Liabilities and Equity	46,013	45,048
Progress Energy
Current Assets
Cash and cash equivalents	75	59
Receivables of VIEs (net of allowance for doubtful accounts)	924	901
Receivables (net of allowance for doubtful accounts)	223	228
Receivables from affiliated companies	69	157
Inventory	1,299	1,375
Regulatory assets (includes amounts related to VIEs)	909	758
Other (includes amounts related to VIEs)	270	109
Total current assets	3,769	3,587
Property, Plant and Equipment
Cost	59,234	57,892
Accumulated depreciation and amortization	(18,887)	(18,368)
Facilities to be retired, net	28	29
Net property, plant and equipment	40,375	39,553
Other Noncurrent Assets
Goodwill	3,655	3,655
Regulatory assets (includes amounts related to VIEs)	5,757	5,775
Nuclear decommissioning trust funds	4,440	4,137
Operating lease right-of-use assets, net	700	690
Other (includes amounts related to VIEs)	1,115	1,227
Total other noncurrent assets	15,667	15,484
Total Assets	59,811	58,624
Current Liabilities
Accounts payable	903	919
Accounts payable to affiliated companies	331	289
Notes payable to affiliated companies	3,003	2,969
Taxes accrued	217	121
Interest accrued	191	202
Current maturities of long-term debt (includes amounts related to VIEs)	2,831	1,426
Asset retirement obligations	251	283
Regulatory liabilities	558	640
Other	814	793
Total current liabilities	9,099	7,642
Long-Term Debt (includes amounts related to VIEs)	16,269	17,688
Long-Term Debt Payable to Affiliated Companies	150	150
Other Noncurrent Liabilities
Deferred income taxes	4,655	4,396
Asset retirement obligations	5,853	5,866
Regulatory liabilities	5,244	5,051
Operating lease liabilities	634	623
Accrued pension and other post-retirement benefit costs	496	505
Other (includes amounts related to VIEs)	469	462
Total other noncurrent liabilities	17,351	16,903
Commitments and Contingencies
Equity
Additional paid-in capital	9,143	9,143
Retained earnings	7,809	7,109
Accumulated other comprehensive loss	(13)	(15)
Total Duke Energy Corporation stockholders' equity	16,939	16,237
Noncontrolling interests	3	4
Total equity	16,942	16,241	16,221
Total Liabilities and Equity	59,811	58,624
Progress Energy | Variable Interest Entity
Current Assets
Regulatory assets (includes amounts related to VIEs)	54	53
Other (includes amounts related to VIEs)	33	39
Other Noncurrent Assets
Regulatory assets (includes amounts related to VIEs)	914	937
Current Liabilities
Current maturities of long-term debt (includes amounts related to VIEs)	55	305
Long-Term Debt (includes amounts related to VIEs)	1,492	1,252
Duke Energy Progress
Current Assets
Cash and cash equivalents	46	39
Receivables of VIEs (net of allowance for doubtful accounts)	473	500
Receivables (net of allowance for doubtful accounts)	129	132
Receivables from affiliated companies	63	50
Inventory	858	911
Regulatory assets (includes amounts related to VIEs)	502	492
Other (includes amounts related to VIEs)	141	60
Total current assets	2,212	2,184
Property, Plant and Equipment
Cost	36,291	35,759
Accumulated depreciation and amortization	(13,134)	(12,801)
Facilities to be retired, net	28	29
Net property, plant and equipment	23,185	22,987
Other Noncurrent Assets
Regulatory assets (includes amounts related to VIEs)	4,056	3,976
Nuclear decommissioning trust funds	3,842	3,500
Operating lease right-of-use assets, net	377	346
Other (includes amounts related to VIEs)	722	740
Total other noncurrent assets	8,997	8,562
Total Assets	34,394	33,733
Current Liabilities
Accounts payable	416	454
Accounts payable to affiliated companies	214	215
Notes payable to affiliated companies	270	295
Taxes accrued	87	85
Interest accrued	90	99
Current maturities of long-term debt (includes amounts related to VIEs)	1,806	603
Asset retirement obligations	250	283
Regulatory liabilities	472	530
Other	413	411
Total current liabilities	4,018	2,975
Long-Term Debt (includes amounts related to VIEs)	7,321	8,505
Long-Term Debt Payable to Affiliated Companies	150	150
Other Noncurrent Liabilities
Deferred income taxes	2,455	2,298
Asset retirement obligations	5,387	5,352
Regulatory liabilities	4,578	4,394
Operating lease liabilities	354	323
Accrued pension and other post-retirement benefit costs	237	242
Investment tax credits	130	132
Other (includes amounts related to VIEs)	79	102
Total other noncurrent liabilities	13,220	12,843
Commitments and Contingencies
Equity
Member's Equity	9,685	9,260
Total Liabilities and Equity	34,394	33,733
Duke Energy Florida
Current Assets
Cash and cash equivalents	22	11
Receivables of VIEs (net of allowance for doubtful accounts)	451	401
Receivables (net of allowance for doubtful accounts)	91	94
Receivables from affiliated companies	8	3
Inventory	440	464
Regulatory assets (includes amounts related to VIEs)	407	265
Other (includes amounts related to VIEs)	59	41
Total current assets	1,478	1,279
Property, Plant and Equipment
Cost	22,933	22,123
Accumulated depreciation and amortization	(5,746)	(5,560)
Net property, plant and equipment	17,187	16,563
Other Noncurrent Assets
Regulatory assets (includes amounts related to VIEs)	1,701	1,799
Nuclear decommissioning trust funds	598	637
Operating lease right-of-use assets, net	323	344
Other (includes amounts related to VIEs)	342	335
Total other noncurrent assets	2,964	3,115
Total Assets	21,629	20,957
Current Liabilities
Accounts payable	487	465
Accounts payable to affiliated companies	129	85
Notes payable to affiliated companies	363	196
Taxes accrued	144	82
Interest accrued	67	69
Current maturities of long-term debt (includes amounts related to VIEs)	575	823
Regulatory liabilities	85	110
Other	395	374
Total current liabilities	2,245	2,204
Long-Term Debt (includes amounts related to VIEs)	7,306	7,092
Other Noncurrent Liabilities
Deferred income taxes	2,286	2,191
Asset retirement obligations	467	514
Regulatory liabilities	665	658
Operating lease liabilities	280	300
Accrued pension and other post-retirement benefit costs	227	231
Other (includes amounts related to VIEs)	262	209
Total other noncurrent liabilities	4,187	4,103
Commitments and Contingencies
Equity
Member's equity	7,893	7,560
Accumulated other comprehensive loss	(2)	(2)
Member's Equity	7,891	7,558	7,124
Total Liabilities and Equity	21,629	20,957
Duke Energy Florida | Variable Interest Entity
Current Assets
Regulatory assets (includes amounts related to VIEs)	54	53
Other (includes amounts related to VIEs)	33	39
Other Noncurrent Assets
Regulatory assets (includes amounts related to VIEs)	914	937
Current Liabilities
Current maturities of long-term debt (includes amounts related to VIEs)	55	305
Long-Term Debt (includes amounts related to VIEs)	1,223	1,002
Duke Energy Ohio
Current Assets
Cash and cash equivalents	12	14
Receivables (net of allowance for doubtful accounts)	96	98
Receivables from affiliated companies	83	102
Inventory	111	110
Regulatory assets (includes amounts related to VIEs)	56	39
Other (includes amounts related to VIEs)	26	31
Total current assets	384	394
Property, Plant and Equipment
Cost	11,351	11,022
Accumulated depreciation and amortization	(3,068)	(3,013)
Net property, plant and equipment	8,283	8,009
Other Noncurrent Assets
Goodwill	920	920
Regulatory assets (includes amounts related to VIEs)	636	610
Operating lease right-of-use assets, net	20	20
Other (includes amounts related to VIEs)	79	72
Total other noncurrent assets	1,655	1,622
Total Assets	10,322	10,025
Current Liabilities
Accounts payable	255	279
Accounts payable to affiliated companies	72	68
Notes payable to affiliated companies	390	169
Taxes accrued	189	247
Interest accrued	31	31
Current maturities of long-term debt (includes amounts related to VIEs)	50	50
Asset retirement obligations	12	3
Regulatory liabilities	65	65
Other	70	70
Total current liabilities	1,134	982
Long-Term Debt (includes amounts related to VIEs)	3,016	3,014
Long-Term Debt Payable to Affiliated Companies	25	25
Other Noncurrent Liabilities
Deferred income taxes	1,014	981
Asset retirement obligations	99	108
Regulatory liabilities	741	748
Operating lease liabilities	19	20
Accrued pension and other post-retirement benefit costs	113	113
Other (includes amounts related to VIEs)	96	99
Total other noncurrent liabilities	2,082	2,069
Commitments and Contingencies
Equity
Common stock	762	762
Additional paid-in capital	2,776	2,776
Retained earnings	527	397
Total Duke Energy Corporation stockholders' equity	4,065	3,935	3,814
Total Liabilities and Equity	10,322	10,025
Duke Energy Indiana
Current Assets
Cash and cash equivalents	12	7
Receivables (net of allowance for doubtful accounts)	69	55
Receivables from affiliated companies	95	112
Notes receivable from affiliated companies	18
Inventory	412	473
Regulatory assets (includes amounts related to VIEs)	173	125
Other (includes amounts related to VIEs)	46	37
Total current assets	825	809
Property, Plant and Equipment
Cost	17,213	17,382
Accumulated depreciation and amortization	(5,514)	(5,661)
Net property, plant and equipment	11,699	11,721
Other Noncurrent Assets
Regulatory assets (includes amounts related to VIEs)	1,310	1,203
Operating lease right-of-use assets, net	53	55
Other (includes amounts related to VIEs)	268	253
Total other noncurrent assets	1,631	1,511
Total Assets	14,155	14,041
Current Liabilities
Accounts payable	209	188
Accounts payable to affiliated companies	59	88
Notes payable to affiliated companies		131
Taxes accrued	64	62
Interest accrued	52	51
Current maturities of long-term debt (includes amounts related to VIEs)	123	70
Asset retirement obligations	176	168
Regulatory liabilities	141	111
Other	104	83
Total current liabilities	928	952
Long-Term Debt (includes amounts related to VIEs)	3,819	3,871
Long-Term Debt Payable to Affiliated Companies	150	150
Other Noncurrent Liabilities
Deferred income taxes	1,262	1,228
Asset retirement obligations	980	1,008
Regulatory liabilities	1,593	1,627
Operating lease liabilities	52	53
Accrued pension and other post-retirement benefit costs	172	171
Investment tax credits	168	168
Other (includes amounts related to VIEs)	32	30
Total other noncurrent liabilities	4,259	4,285
Commitments and Contingencies
Equity
Member's Equity	4,999	4,783
Total Liabilities and Equity	14,155	14,041
Piedmont
Current Assets
Receivables (net of allowance for doubtful accounts)	106	250
Receivables from affiliated companies	10	10
Inventory	43	68
Regulatory assets (includes amounts related to VIEs)	108	153
Other (includes amounts related to VIEs)	48	20
Total current assets	315	501
Property, Plant and Equipment
Cost	9,556	9,134
Accumulated depreciation and amortization	(1,838)	(1,749)
Net property, plant and equipment	7,718	7,385
Other Noncurrent Assets
Goodwill	49	49
Regulatory assets (includes amounts related to VIEs)	337	302
Operating lease right-of-use assets, net	18	20
Investments in equity method unconsolidated affiliates	89	88
Other (includes amounts related to VIEs)	277	270
Total other noncurrent assets	770	729
Total Assets	8,803	8,615
Current Liabilities
Accounts payable	165	230
Accounts payable to affiliated companies	44	79
Notes payable to affiliated companies	93	530
Taxes accrued	27	23
Interest accrued	36	34
Current maturities of long-term debt (includes amounts related to VIEs)		160
Regulatory liabilities	57	88
Other	80	69
Total current liabilities	502	1,213
Long-Term Debt (includes amounts related to VIEs)	2,967	2,620
Other Noncurrent Liabilities
Deferred income taxes	861	821
Asset retirement obligations	20	20
Regulatory liabilities	1,007	1,044
Operating lease liabilities	16	19
Accrued pension and other post-retirement benefit costs	6	8
Other (includes amounts related to VIEs)	185	155
Total other noncurrent liabilities	2,095	2,067
Commitments and Contingencies
Equity
Common stock	1,635	1,310
Retained earnings	1,604	1,405
Total Duke Energy Corporation stockholders' equity	3,239	2,715	2,622
Total Liabilities and Equity	8,803	8,615
Preferred stock, Series A
Equity
Preferred stock		973	$ 973
Preferred stock, Series B
Equity
Preferred stock	$ 989	$ 989

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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Allowance for doubtful accounts - receivables	$ 45	$ 29
Regulatory assets (includes amounts related to VIEs)	1,793	1,641
Current Assets: Other	722	462
Regulatory assets (includes amounts related to VIEs)	12,485	12,421
Other Noncurrent Assets: Other	3,652	3,601
Current maturities of long-term debt (includes amounts related to VIEs)	4,976	4,238
Long-Term Debt	57,410	55,625
Other, noncurrent liabilities	$ 1,809	$ 1,719
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares outstanding (in shares)	769,000,000	769,000,000
Preferred stock, Series A
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, depositary shares authorized (in shares)	40,000,000	40,000,000
Preferred stock, depositary shares outstanding (in shares)	40,000,000	40,000,000
Preferred stock, Series B
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, depositary shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, depositary shares outstanding (in shares)	1,000,000	1,000,000
Variable Interest Entity
Allowance for doubtful accounts - receivables of VIEs	$ 78	$ 117
Regulatory assets (includes amounts related to VIEs)	54	53
Current Assets: Other	356	296
Regulatory assets (includes amounts related to VIEs)	914	937
Other Noncurrent Assets: Other	89	81
Current maturities of long-term debt (includes amounts related to VIEs)	219	472
Long-Term Debt	3,796	3,535
Other, noncurrent liabilities	352	316
Duke Energy Carolinas
Allowance for doubtful accounts - receivables	2	1
Allowance for doubtful accounts - receivables of VIEs	40	22
Regulatory assets (includes amounts related to VIEs)	458	473
Current Assets: Other	88	20
Regulatory assets (includes amounts related to VIEs)	2,970	2,996
Other Noncurrent Assets: Other	1,238	1,187
Current maturities of long-term debt (includes amounts related to VIEs)	356	506
Long-Term Debt	12,250	11,412
Other, noncurrent liabilities	605	626
Progress Energy
Allowance for doubtful accounts - receivables	11	8
Regulatory assets (includes amounts related to VIEs)	909	758
Current Assets: Other	270	109
Regulatory assets (includes amounts related to VIEs)	5,757	5,775
Other Noncurrent Assets: Other	1,115	1,227
Current maturities of long-term debt (includes amounts related to VIEs)	2,831	1,426
Long-Term Debt	16,269	17,688
Other, noncurrent liabilities	$ 469	$ 462
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100	100
Common stock, shares outstanding (in shares)	100	100
Progress Energy | Variable Interest Entity
Allowance for doubtful accounts - receivables of VIEs	$ 25	$ 29
Regulatory assets (includes amounts related to VIEs)	54	53
Current Assets: Other	33	39
Regulatory assets (includes amounts related to VIEs)	914	937
Current maturities of long-term debt (includes amounts related to VIEs)	55	305
Long-Term Debt	1,492	1,252
Duke Energy Progress
Allowance for doubtful accounts - receivables	4	4
Regulatory assets (includes amounts related to VIEs)	502	492
Current Assets: Other	141	60
Regulatory assets (includes amounts related to VIEs)	4,056	3,976
Other Noncurrent Assets: Other	722	740
Current maturities of long-term debt (includes amounts related to VIEs)	1,806	603
Long-Term Debt	7,321	8,505
Other, noncurrent liabilities	79	102
Duke Energy Progress | Variable Interest Entity
Allowance for doubtful accounts - receivables of VIEs	17	19
Duke Energy Florida
Allowance for doubtful accounts - receivables	8	4
Regulatory assets (includes amounts related to VIEs)	407	265
Current Assets: Other	59	41
Regulatory assets (includes amounts related to VIEs)	1,701	1,799
Other Noncurrent Assets: Other	342	335
Current maturities of long-term debt (includes amounts related to VIEs)	575	823
Long-Term Debt	7,306	7,092
Other, noncurrent liabilities	262	209
Duke Energy Florida | Variable Interest Entity
Allowance for doubtful accounts - receivables of VIEs	8	10
Regulatory assets (includes amounts related to VIEs)	54	53
Current Assets: Other	33	39
Regulatory assets (includes amounts related to VIEs)	914	937
Current maturities of long-term debt (includes amounts related to VIEs)	55	305
Long-Term Debt	1,223	1,002
Duke Energy Ohio
Allowance for doubtful accounts - receivables	4	4
Regulatory assets (includes amounts related to VIEs)	56	39
Current Assets: Other	26	31
Regulatory assets (includes amounts related to VIEs)	636	610
Other Noncurrent Assets: Other	79	72
Current maturities of long-term debt (includes amounts related to VIEs)	50	50
Long-Term Debt	3,016	3,014
Other, noncurrent liabilities	$ 96	$ 99
Common stock, par value (in usd per share)	$ 8.50	$ 8.50
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares outstanding (in shares)	90,000,000	90,000,000
Duke Energy Indiana
Allowance for doubtful accounts - receivables	$ 3	$ 3
Regulatory assets (includes amounts related to VIEs)	173	125
Current Assets: Other	46	37
Regulatory assets (includes amounts related to VIEs)	1,310	1,203
Other Noncurrent Assets: Other	268	253
Current maturities of long-term debt (includes amounts related to VIEs)	123	70
Long-Term Debt	3,819	3,871
Other, noncurrent liabilities	32	30
Piedmont
Allowance for doubtful accounts - receivables	13	12
Regulatory assets (includes amounts related to VIEs)	108	153
Current Assets: Other	48	20
Regulatory assets (includes amounts related to VIEs)	337	302
Other Noncurrent Assets: Other	277	270
Current maturities of long-term debt (includes amounts related to VIEs)		160
Long-Term Debt	2,967	2,620
Other, noncurrent liabilities	$ 185	$ 155
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares outstanding (in shares)	100,000,000	100,000,000

XML

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 1,639	$ (2)
Net income	1,757	136
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	2,753	2,651
Equity in losses of unconsolidated affiliates	8	1,924
Equity component of AFUDC	(83)	(76)
Impairment of assets and other charges	131	8
Deferred income taxes	119	105
Payments for asset retirement obligations	(263)	(287)
Provision for rate refunds	(13)	(12)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	15	(24)
Receivables	85	281
Inventory	153	(56)
Other current assets	(297)	(124)
Increase (decrease) in
Accounts payable	(297)	(638)
Taxes accrued	219	273
Other current liabilities	(326)	(344)
Other assets	77	(201)
Other liabilities	(47)	(121)
Net cash provided by operating activities	3,873	3,357
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(4,636)	(5,103)
Contributions to equity method investments	(21)	(164)
Purchases of debt and equity securities	(3,182)	(3,818)
Proceeds from sales and maturities of debt and equity securities	3,217	3,755
Disbursements to canceled equity method investments	(855)
Other	(137)	(141)
Net cash used in investing activities	(5,614)	(5,471)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	4,627	3,788
Proceeds from the issuance of common stock	5	57
Payments for the redemption of long-term debt	(2,002)	(1,951)
Proceeds from the issuance of short-term debt with original maturities greater than 90 days	75	1,866
Payments for the redemption of short-term debt with original maturities greater than 90 days	(959)	(113)
Notes payable and commercial paper	1,299	(129)
Contributions from noncontrolling interests	318	163
Dividends paid	(1,541)	(1,391)
Other	(72)	(108)
Net cash provided by financing activities	1,750	2,182
Net increase in cash, cash equivalents and restricted cash	9	68
Cash, cash equivalents and restricted cash at beginning of period	556	573
Cash, cash equivalents and restricted cash at end of period	565	641
Significant non-cash transactions:
Accrued capital expenditures	990	945
Non-cash dividends		54
Duke Energy Carolinas
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	537	573
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	861	854
Equity component of AFUDC	(30)	(29)
Impairment of assets and other charges	75	2
Deferred income taxes	(41)	31
Payments for asset retirement obligations	(93)	(86)
Provision for rate refunds	(11)	2
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	4
Receivables		40
Receivables from affiliated companies	13	36
Inventory	(3)	(84)
Other current assets	(45)	170
Increase (decrease) in
Accounts payable	(266)	(249)
Accounts payable to affiliated companies	(4)	(63)
Taxes accrued	127	120
Other current liabilities	(152)	(134)
Other assets	8	(83)
Other liabilities	18	(35)
Net cash provided by operating activities	998	1,065
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,251)	(1,271)
Purchases of debt and equity securities	(1,847)	(1,017)
Proceeds from sales and maturities of debt and equity securities	1,847	1,017
Other	(80)	(73)
Net cash used in investing activities	(1,331)	(1,344)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	1,298	938
Payments for the redemption of long-term debt	(614)	(454)
Notes payable to affiliated companies	(35)	102
Distributions to parent	(300)	(300)
Other	(1)	(1)
Net cash provided by financing activities	348	285
Net increase in cash, cash equivalents and restricted cash	15	6
Cash, cash equivalents and restricted cash at beginning of period	21	18
Cash, cash equivalents and restricted cash at end of period	36	24
Significant non-cash transactions:
Accrued capital expenditures	315	256
Progress Energy
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	701	627
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	1,104	1,118
Equity component of AFUDC	(23)	(24)
Impairment of assets and other charges	37
Deferred income taxes	163	94
Payments for asset retirement obligations	(139)	(173)
Provision for rate refunds	(7)	2
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	16	(22)
Receivables	(12)	(15)
Receivables from affiliated companies	88	34
Inventory	76	(42)
Other current assets	(247)	102
Increase (decrease) in
Accounts payable	44	(238)
Accounts payable to affiliated companies	42	(88)
Taxes accrued	97	155
Other current liabilities	(79)	(64)
Other assets	(33)	(57)
Other liabilities	(156)	(97)
Net cash provided by operating activities	1,672	1,312
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,745)	(1,812)
Purchases of debt and equity securities	(1,160)	(2,602)
Proceeds from sales and maturities of debt and equity securities	1,201	2,588
Notes receivable from affiliated companies		164
Other	(69)	(81)
Net cash used in investing activities	(1,773)	(1,743)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	19	514
Payments for the redemption of long-term debt	(41)	(550)
Notes payable to affiliated companies	34	552
Other	(3)
Net cash provided by financing activities	9	516
Net increase in cash, cash equivalents and restricted cash	(92)	85
Cash, cash equivalents and restricted cash at beginning of period	200	126
Cash, cash equivalents and restricted cash at end of period	108	211
Significant non-cash transactions:
Accrued capital expenditures	329	287
Duke Energy Progress
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	425	365
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	610	635
Equity component of AFUDC	(15)	(19)
Impairment of assets and other charges	18
Deferred income taxes	28	60
Payments for asset retirement obligations	(88)	(164)
Provision for rate refunds	(7)	2
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	9	(5)
Receivables	31	96
Receivables from affiliated companies	(13)	10
Inventory	52	(46)
Other current assets	(52)	87
Increase (decrease) in
Accounts payable	28	(260)
Accounts payable to affiliated companies	(1)	(50)
Taxes accrued	2	71
Other current liabilities	(45)	(16)
Other assets	(40)	(92)
Other liabilities	(43)	(5)
Net cash provided by operating activities	899	669
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(869)	(795)
Purchases of debt and equity securities	(926)	(569)
Proceeds from sales and maturities of debt and equity securities	915	548
Other	(2)	(21)
Net cash used in investing activities	(882)	(837)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	19	20
Payments for the redemption of long-term debt	(3)	(13)
Notes payable to affiliated companies	(25)	191
Other	(1)	(1)
Net cash provided by financing activities	(10)	197
Net increase in cash, cash equivalents and restricted cash	7	29
Cash, cash equivalents and restricted cash at beginning of period	39	22
Cash, cash equivalents and restricted cash at end of period	46	51
Significant non-cash transactions:
Accrued capital expenditures	97	95
Duke Energy Florida
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	334	336
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	491	478
Equity component of AFUDC	(8)	(6)
Impairment of assets and other charges	19
Deferred income taxes	130	37
Payments for asset retirement obligations	(52)	(9)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	5	(20)
Receivables	(42)	(110)
Receivables from affiliated companies	(5)	(2)
Inventory	24	4
Other current assets	(132)	(11)
Increase (decrease) in
Accounts payable	15	23
Accounts payable to affiliated companies	44	(51)
Taxes accrued	62	134
Other current liabilities	(35)	(50)
Other assets	11	37
Other liabilities	(94)	(91)
Net cash provided by operating activities	767	699
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(876)	(1,016)
Purchases of debt and equity securities	(234)	(2,033)
Proceeds from sales and maturities of debt and equity securities	286	2,040
Notes receivable from affiliated companies		173
Other	(67)	(60)
Net cash used in investing activities	(891)	(896)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt		495
Payments for the redemption of long-term debt	(38)	(537)
Notes payable to affiliated companies	167	232
Other		2
Net cash provided by financing activities	129	192
Net increase in cash, cash equivalents and restricted cash	5	(5)
Cash, cash equivalents and restricted cash at beginning of period	50	56
Cash, cash equivalents and restricted cash at end of period	55	51
Significant non-cash transactions:
Accrued capital expenditures	232	192
Duke Energy Ohio
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	130	131
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	151	138
Equity component of AFUDC	(4)	(2)
Impairment of assets and other charges	5
Deferred income taxes	17	24
Payments for asset retirement obligations	(1)
Provision for rate refunds	8	6
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions	(1)
Receivables	2	2
Receivables from affiliated companies	(11)	45
Inventory	(1)	6
Other current assets	(12)	8
Increase (decrease) in
Accounts payable	(8)	(22)
Accounts payable to affiliated companies	4	(10)
Taxes accrued	(58)	(9)
Other current liabilities	(7)	2
Other assets	(33)	(24)
Other liabilities	4	(3)
Net cash provided by operating activities	185	292
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(415)	(403)
Notes receivable from affiliated companies	30	(35)
Other	(23)	(27)
Net cash used in investing activities	(408)	(465)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt		397
Payments for the redemption of long-term debt		(233)
Notes payable to affiliated companies	221
Net cash provided by financing activities	221	164
Net increase in cash, cash equivalents and restricted cash	(2)	(9)
Cash, cash equivalents and restricted cash at beginning of period	14	17
Cash, cash equivalents and restricted cash at end of period	12	8
Significant non-cash transactions:
Accrued capital expenditures	88	94
Duke Energy Indiana
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	215	180
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	306	267
Equity component of AFUDC	(12)	(12)
Impairment of assets and other charges	8
Deferred income taxes	1	38
Payments for asset retirement obligations	(30)	(28)
(Increase) decrease in
Receivables	(15)	19
Receivables from affiliated companies	(8)	20
Inventory	61	28
Other current assets	(31)	13
Increase (decrease) in
Accounts payable	35	22
Accounts payable to affiliated companies	(29)	(13)
Taxes accrued	10	4
Other current liabilities	20	(22)
Other assets	(3)	(29)
Other liabilities	6	(6)
Net cash provided by operating activities	534	481
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(394)	(456)
Purchases of debt and equity securities	(9)	(14)
Proceeds from sales and maturities of debt and equity securities	6	7
Notes receivable from affiliated companies	7	(425)
Other	(8)	(16)
Net cash used in investing activities	(398)	(904)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt		544
Notes payable to affiliated companies	(131)	(30)
Distributions to parent		(100)
Net cash provided by financing activities	(131)	414
Net increase in cash, cash equivalents and restricted cash	5	(9)
Cash, cash equivalents and restricted cash at beginning of period	7	25
Cash, cash equivalents and restricted cash at end of period	12	16
Significant non-cash transactions:
Accrued capital expenditures	85	83
Piedmont
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	199	180
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel)	101	89
Equity in losses of unconsolidated affiliates	(4)	(4)
Equity component of AFUDC	(14)	(9)
Impairment of assets and other charges	5
Deferred income taxes	3	17
Provision for rate refunds	(3)	(24)
(Increase) decrease in
Receivables	137	154
Receivables from affiliated companies		(4)
Inventory	26	42
Other current assets	30	(69)
Increase (decrease) in
Accounts payable	(70)	(68)
Accounts payable to affiliated companies	(35)	33
Taxes accrued	3	5
Other current liabilities	(30)	(4)
Other assets	6	(13)
Other liabilities	(2)	7
Net cash provided by operating activities	352	332
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(411)	(438)
Return of investment capital	1	1
Other	(17)	(12)
Net cash used in investing activities	(427)	(449)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt	347	394
Payments for the redemption of long-term debt	(160)
Notes payable to affiliated companies	(437)	(277)
Capital contributions from parent	325
Net cash provided by financing activities	75	117
Significant non-cash transactions:
Accrued capital expenditures	$ 111	$ 98

XML

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Millions		Total		Preferred Stock	Common Stockholders' Equity		Additional Paid-in Capital	Retained Earnings		Accumulated Other Comprehensive (Loss) Income, Net (Losses) Gains on Cash Flow Hedges	Accumulated Other Comprehensive (Loss) Income, Net Unrealized (Losses) Gains on Available-for-Sale-Securities	Accumulated Other Comprehensive (Loss) Income, Pension and OPEB Adjustments	Noncontrolling Interests		Duke Energy Carolinas		Duke Energy Carolinas Member's Equity		Duke Energy Carolinas Accumulated Other Comprehensive (Loss) Income, Net (Losses) Gains on Cash Flow Hedges	Progress Energy	Progress Energy Common Stockholders' Equity	Progress Energy Additional Paid-in Capital	Progress Energy Retained Earnings	Progress Energy Accumulated Other Comprehensive (Loss) Income, Net (Losses) Gains on Cash Flow Hedges	Progress Energy Accumulated Other Comprehensive (Loss) Income, Net Unrealized (Losses) Gains on Available-for-Sale-Securities	Progress Energy Accumulated Other Comprehensive (Loss) Income, Pension and OPEB Adjustments	Progress Energy Noncontrolling Interests	Duke Energy Progress	Duke Energy Progress Member's Equity	Duke Energy Florida	Duke Energy Florida Member's Equity	Duke Energy Florida Accumulated Other Comprehensive (Loss) Income, Net Unrealized (Losses) Gains on Available-for-Sale-Securities	Duke Energy Ohio	Duke Energy Ohio Common Stock	Duke Energy Ohio Additional Paid-in Capital	Duke Energy Ohio Retained Earnings	Duke Energy Indiana	Duke Energy Indiana Member's Equity	Piedmont	Piedmont Common Stock	Piedmont Retained Earnings	Common Stock	Common Stock Common Stockholders' Equity	Common Stock Common Stock	Common Stock Additional Paid-in Capital
Beginning Balance at Dec. 31, 2019		$ 47,951		$ 1,962	$ 46,822		$ 40,881	$ 4,108		$ (51)	$ 3	$ (82)	$ 1,129							$ 15,593	$ 15,590	$ 9,143	$ 6,465	$ (10)	$ (1)	$ (7)	$ 3																	$ 1
Beginning Balance, in shares at Dec. 31, 2019																																												733,000,000
Beginning Balance (member's equity) at Dec. 31, 2019															$ 12,811		$ 12,818		$ (7)										$ 9,246	$ 6,788	$ 6,789	$ (1)						$ 4,575
Beginning Balance (parent) at Dec. 31, 2019																																	$ 3,683	$ 762	$ 2,776	$ 145			$ 2,443	$ 1,310	$ 1,133
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(56)			82			82					(138)
Net income		136													573		573											$ 365	365	336	336		131			131	$ 180	180	180		180
Net income (loss)		(2)																		627	627		627
Other comprehensive (loss) income		(65)	[1]		(53)					(60)	7		(12)							3	3			2		1
Common stock issuances, including dividend reinvestment and employee benefits																																										$ 116	$ 116		$ 116
Common stock issuances, including dividend reinvestment and employee benefits (in shares)																																												2,000,000
Common stock dividends		(1,391)			(1,391)			(1,391)							(300)		(300)																					(100)
Contributions from noncontrolling interests, net of transaction costs	[2]	163											163
Distributions to noncontrolling interest in subsidiaries		(14)											(14)							(1)							(1)
Other		(93)	[3]		(92)	[3]		(92)	[3]				(1)	[3]	(12)	[4]	(12)	[4]		(1)	(2)		(2)				1		(1)										(1)		(1)
Ending Balance at Jun. 30, 2020		46,611		1,962	45,484		40,997	2,707		(111)	10	(82)	1,127							16,221	16,218	9,143	7,090	(8)	(1)	(6)	3																	$ 1
Ending Balance (member's equity) at Jun. 30, 2020															13,072		13,079		(7)										9,610	7,124	7,125	(1)						4,655
Ending Balance, in shares at Jun. 30, 2020																																												735,000,000
Ending Balance (parent) at Jun. 30, 2020																																	3,814	762	2,776	276			2,622	1,310	1,312
Beginning Balance at Mar. 31, 2020		48,083		1,962	46,921		40,930	4,221		(116)	4	(81)	1,162							15,877	15,874	9,143	6,747	(9)		(7)	3																	$ 1
Beginning Balance, in shares at Mar. 31, 2020																																												735,000,000
Beginning Balance (member's equity) at Mar. 31, 2020															12,837		12,844		(7)										9,450	6,909	6,909							4,674
Beginning Balance (parent) at Mar. 31, 2020																																	3,748	762	2,776	210			2,620	1,310	1,310
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(907)			(817)			(817)					(90)
Net income		(802)													234		234											161	161	216	216		66			66	81	81	2		2
Net income (loss)		(892)																		344	344		344
Other comprehensive (loss) income		12	[1]		10					5	6	(1)	2							1	1			1	(1)	1				(1)		(1)
Common stock issuances, including dividend reinvestment and employee benefits																																										66	66		66
Common stock dividends		(696)			(696)			(696)																														(100)
Contributions from noncontrolling interests, net of transaction costs	[2]	60											60
Distributions to noncontrolling interest in subsidiaries		(7)											(7)							(1)							(1)
Other							1	(1)							1		1				(1)		(1)				1		(1)
Ending Balance at Jun. 30, 2020		46,611		1,962	45,484		40,997	2,707		(111)	10	(82)	1,127							16,221	16,218	9,143	7,090	(8)	(1)	(6)	3																	$ 1
Ending Balance (member's equity) at Jun. 30, 2020															13,072		13,079		(7)										9,610	7,124	7,125	(1)						4,655
Ending Balance, in shares at Jun. 30, 2020																																												735,000,000
Ending Balance (parent) at Jun. 30, 2020																																	$ 3,814	762	2,776	276			$ 2,622	1,310	1,312
Beginning Balance at Dec. 31, 2020		$ 49,184		1,962	47,964		43,767	2,471		(167)	6	(76)	1,220							$ 16,241	16,237	9,143	7,109	(5)	(2)	(8)	4																	$ 1
Beginning Balance, in shares at Dec. 31, 2020		769,000,000																		100													90,000,000						100,000,000					769,000,000
Beginning Balance (member's equity) at Dec. 31, 2020															13,154		13,161		(7)									9,260	9,260	7,558	7,560	(2)					4,783	4,783
Beginning Balance (parent) at Dec. 31, 2020		$ 47,964																		$ 16,237													$ 3,935	762	2,776	397			$ 2,715	1,310	1,405
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		1,586			1,704			1,704					(118)
Net income		1,757													537		537											425	425	334	334		$ 130			130	215	215	199		199
Net income (loss)		1,639																		701	701		701
Other comprehensive (loss) income		(63)	[1]		(69)					(67)	(4)	2	6							2	2			1		1
Common stock issuances, including dividend reinvestment and employee benefits																																										23	23		23
Common stock dividends		(1,488)			(1,488)			(1,488)							(300)		(300)
Contributions from noncontrolling interests, net of transaction costs	[2]	315			(3)		(3)						318
Distributions to noncontrolling interest in subsidiaries		(12)											(12)							(1)							(1)
Other					1		1						(1)		1		1			(1)	(1)		(1)							(1)	(1)							1
Contribution from parent																																							$ 325	325
Ending Balance at Jun. 30, 2021		$ 49,545		1,962	48,132		43,788	2,687		(234)	2	(74)	1,413							$ 16,942	16,939	9,143	7,809	(4)	(2)	(7)	3																	$ 1
Ending Balance (member's equity) at Jun. 30, 2021															13,392		13,399		(7)									9,685	9,685	7,891	7,893	(2)					4,999	4,999
Ending Balance, in shares at Jun. 30, 2021		769,000,000																		100													90,000,000						100,000,000					769,000,000
Ending Balance (parent) at Jun. 30, 2021		$ 48,132																		$ 16,939													$ 4,065	762	2,776	527			$ 3,239	1,635	1,604
Beginning Balance at Mar. 31, 2021		49,658		1,962	48,186		43,761	2,680		(142)	(2)	(74)	1,472							16,530	16,528	9,143	7,400	(4)	(3)	(8)	2																	$ 1
Beginning Balance, in shares at Mar. 31, 2021																																												769,000,000
Beginning Balance (member's equity) at Mar. 31, 2021															13,466		13,473		(7)										9,470	7,674	7,677	(3)						4,896
Beginning Balance (parent) at Mar. 31, 2021																																	4,026	762	2,776	488			3,243	1,635	1,608
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		684			751			751					(67)
Net income		765													225		225											215	215	217	217		$ 39			39	103	103	$ (4)		(4)
Net income (loss)		698																		411	411		411
Other comprehensive (loss) income		(89)	[1]		(88)					(92)	4		(1)							2	2				1	1				1		1
Common stock issuances, including dividend reinvestment and employee benefits																																										$ 26	$ 26		$ 26
Common stock dividends		(744)			(744)			(744)							(300)		(300)
Contributions from noncontrolling interests, net of transaction costs	[2]	15											15
Distributions to noncontrolling interest in subsidiaries		(5)											(5)
Other					1		1						(1)		1		1			(1)	(2)		(2)				1			(1)	(1)
Ending Balance at Jun. 30, 2021		$ 49,545		$ 1,962	$ 48,132		$ 43,788	$ 2,687		$ (234)	$ 2	$ (74)	$ 1,413							$ 16,942	$ 16,939	$ 9,143	$ 7,809	$ (4)	$ (2)	$ (7)	$ 3																	$ 1
Ending Balance (member's equity) at Jun. 30, 2021															$ 13,392		$ 13,399		$ (7)									$ 9,685	$ 9,685	$ 7,891	$ 7,893	$ (2)					$ 4,999	$ 4,999
Ending Balance, in shares at Jun. 30, 2021		769,000,000																		100													90,000,000						100,000,000					769,000,000
Ending Balance (parent) at Jun. 30, 2021		$ 48,132																		$ 16,939													$ 4,065	$ 762	$ 2,776	$ 527			$ 3,239	$ 1,635	$ 1,604

[1] Net of income tax impacts of approximately $27 million for the three months ended June 30, 2021, and $19 million and $20 million for the six months ended June 30, 2021, and 2020, respectively. All other periods presented include immaterial income tax impacts.

[2] Relates to tax equity financing activity in the Commercial Renewables segment.

[3] Amounts in Retained earnings primarily represent impacts due to implementation of a new accounting standard related to Current Estimated Credit Losses. See Note 1 for additional discussion.

[4] Amounts primarily represent impacts due to implementation of a new accounting standard related to Current Estimated Credit Losses. See Note 1 for additional discussion.

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Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

Index to Combined Notes to Condensed Consolidated Financial Statements

The unaudited notes to the Condensed Consolidated Financial Statements that follow are a combined presentation. The following list indicates the registrants to which the footnotes apply.

Applicable Notes

Registrant

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Duke Energy

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Duke Energy Carolinas

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Progress Energy

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Duke Energy Progress

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Duke Energy Florida

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Duke Energy Ohio

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Duke Energy Indiana

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Piedmont

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Tables within the notes may not sum across due to (i) Progress Energy's consolidation of Duke Energy Progress, Duke Energy Florida and other subsidiaries that are not registrants and (ii) subsidiaries that are not registrants but included in the consolidated Duke Energy balances.

ORGANIZATION AND BASIS OF PRESENTATION

BASIS OF PRESENTATION

These Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these Condensed Consolidated Financial Statements do not include all information and notes required by GAAP for annual financial statements and should be read in conjunction with the Consolidated Financial Statements in the Duke Energy Registrants’ combined Annual Report on Form 10-K for the year ended December 31, 2020.

The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Condensed Consolidated Financial Statements. However, none of the registrants make any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself.

These Condensed Consolidated Financial Statements, in the opinion of the respective companies’ management, reflect all normal recurring adjustments necessary to fairly present the financial position and results of operations of each of the Duke Energy Registrants. Amounts reported in Duke Energy’s interim Condensed Consolidated Statements of Operations and each of the Subsidiary Registrants’ interim Condensed Consolidated Statements of Operations and Comprehensive Income are not necessarily indicative of amounts expected for the respective annual periods due to effects of seasonal temperature variations on energy consumption, regulatory rulings, timing of maintenance on electric generating units, changes in mark-to-market valuations, changing commodity prices and other factors.

In preparing financial statements that conform to GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

BASIS OF CONSOLIDATION

These Condensed Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 11 for additional information on VIEs. These Condensed Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities.

OTHER CURRENT LIABILITIES

Included in Other within Current Liabilities on the Duke Energy Condensed Consolidated Balance Sheet is a current liability of $41 million and $936 million as of June 30, 2021, and December 31, 2020, respectively. The current liability, initially recorded in 2020, primarily represented Duke Energy's share of ACP's obligations of outstanding debt and to satisfy ARO requirements to restore construction sites. See Notes 3 and 11 for further information.

NONCONTROLLING INTEREST

Duke Energy maintains a controlling financial interest in certain less than wholly owned nonregulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Condensed Consolidated Balance Sheet.

Several operating agreements of Duke Energy's subsidiaries with noncontrolling interest are subject to allocations of earnings, tax attributes and cash flows in accordance with contractual agreements that vary throughout the lives of the subsidiaries. Therefore, Duke Energy and the other investors' (the owners) interests in the subsidiaries are not fixed, and the subsidiaries apply the Hypothetical Liquidation at Book Value (HLBV) method in allocating income or loss and other comprehensive income or loss (all measured on a pretax basis) to the owners. The HLBV method measures the amounts that each owner would hypothetically claim at each balance sheet reporting date, including tax benefits realized by the owners over the IRS recapture period, upon a hypothetical liquidation of the subsidiary at the net book value of its underlying assets. The change in the amount that each owner would hypothetically receive at the reporting date compared to the amount it would have received on the previous reporting date represents the amount of income or loss allocated to each owner for the reporting period.

Other operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares.

The following table presents cash received for the sale of noncontrolling interest and allocated losses to noncontrolling interest for the three and six months ended June 30, 2021, and 2020.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Noncontrolling Interest Capital Contributions
Cash received for the sale of noncontrolling interest to tax equity members	$	15	$	60	$	318	$	163
Noncontrolling Interest Allocation of Income
Allocated losses to noncontrolling tax equity members utilizing the HLBV method	55		79		98		128
Allocated losses to noncontrolling members based on pro rata shares of ownership	12		11		20		10
Total Noncontrolling Interest Allocated Losses	$	67	$	90	$	118	$	138

CASH, CASH EQUIVALENTS AND RESTRICTED CASH

Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Notes 9 and 11 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included in the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
					Duke						Duke
	Duke		Progress		Energy		Duke		Progress		Energy
	Energy		Energy		Florida		Energy		Energy		Florida
Current Assets
Cash and cash equivalents	$	367	$	75	$	22	$	259	$	59	$	11
Other	197		33		33		194		39		39
Other Noncurrent Assets
Other	1		—		—		103		102		—
Total cash, cash equivalents and restricted cash	$	565	$	108	$	55	$	556	$	200	$	50

INVENTORY

Provisions for inventory write-offs were not material at June 30, 2021, and December 31, 2020. The components of inventory are presented in the tables below.

	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Materials and supplies	$	2,368	$	820	$	1,014	$	680	$	334	$	82	$	305	$	11
Coal	397		158		123		78		44		10		106		—
Natural gas, oil and other fuel	250		35		162		100		62		19		1		32
Total inventory	$	3,015	$	1,013	$	1,299	$	858	$	440	$	111	$	412	$	43

	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Materials and supplies	$	2,312	$	785	$	999	$	673	$	325	$	78	$	307	$	12
Coal	561		186		193		131		63		16		165		—
Natural gas, oil and other fuel	294		39		183		107		76		16		1		56
Total inventory	$	3,167	$	1,010	$	1,375	$	911	$	464	$	110	$	473	$	68

PROPERTY, PLANT & EQUIPMENT AND LEASES

Duke Energy continues to execute on its business transformation strategy, including the evaluation of in-office work policies considering the experience with the COVID-19 pandemic and also workforce realignment of roles and responsibilities. In May 2021, Duke Energy management approved the sale of certain properties and entered into an agreement to exit certain leased space on December 31, 2021. The sale of the properties is subject to abandonment accounting and resulted in an impairment charge. Additionally, the exit of the leased space resulted in the impairment of related furniture, fixtures and equipment. The total 2021 charges related to the reduction in physical workspace, including these impairments, are expected to be approximately $200 million. During the three months ended June 30, 2021, Duke Energy recorded a pretax charge to earnings of $175 million on the Condensed Consolidated Statements of Operations, which includes $131 million within Impairment of assets and other charges, $27 million within Operations, maintenance and other and $17 million within Depreciation and amortization.

NEW ACCOUNTING STANDARDS

The following new accounting standard was adopted by the Duke Energy Registrants in 2021.

Leases with Variable Lease Payments. In July 2021, the Financial Accounting Standards Board (FASB) issued new accounting guidance requiring lessors to classify a lease with variable lease payments that do not depend on a reference index or rate as an operating lease if both of the following are met: (1) the lease would have to be classified as a sales-type or direct financing lease under prior guidance, and (2) the lessor would have recognized a day-one loss. Duke Energy elected to adopt the guidance immediately upon issuance of the new standard and will be applying the new standard prospectively to new lease arrangements meeting the criteria. Duke Energy does not currently have any lease arrangements that this new accounting guidance will materially impact.

The following accounting standard was adopted by the Duke Energy Registrants in 2020.

Current Expected Credit Losses. In June 2016, the FASB issued new accounting guidance for credit losses. Duke Energy adopted the new accounting guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year results. Duke Energy did not adopt any practical expedients.

Duke Energy recognizes allowances for credit losses based on management's estimate of losses expected to be incurred over the lives of certain assets or guarantees. Management monitors credit quality, changes in expected credit losses and the appropriateness of the allowance for credit losses on a forward-looking basis. Management reviews the risk of loss periodically as part of the existing assessment of collectability of receivables.

Duke Energy reviews the credit quality of its counterparties as part of its regular risk management process and requires credit enhancements, such as deposits or letters of credit, as appropriate and as allowed by regulators.

Duke Energy recorded cumulative effects of changes in accounting principles related to the adoption of the new credit loss standard for allowances for credit losses of trade and other receivables, insurance receivables and financial guarantees. These amounts are included in the Condensed Consolidated Balance Sheets in Receivables, Receivables of VIEs, Other Noncurrent Assets and Other Noncurrent Liabilities. See Notes 4 and 12 for more information.

Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below:

	January 1, 2020
			Duke				Duke		Duke
	Duke		Energy		Progress		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Piedmont
Total pretax impact to Retained Earnings	$	120	$	16	$	2	$	1	$	1	$	1

The following new accounting standard has been issued but not yet adopted by the Duke Energy Registrants as of June 30, 2021.

Reference Rate Reform. In March 2020, the FASB issued new accounting guidance for reference rate reform. This guidance is elective and provides expedients to facilitate financial reporting for the anticipated transition away from the London Inter-bank Offered Rate (LIBOR) and other interbank reference rates by the end of 2022. The optional expedients are effective for modification of existing contracts or new arrangements executed between March 12, 2020, through December 31, 2022.

Duke Energy has variable-rate debt and manages interest rate risk by entering into financial contracts including interest rate swaps that are generally indexed to LIBOR. Impacted financial arrangements extending beyond 2022 may require contractual amendment or termination to fully adapt to a post-LIBOR environment. Duke Energy is assessing these financial arrangements and is evaluating the use of optional expedients outlined in the new accounting guidance. Alternative index provisions are also being assessed and incorporated into new financial arrangements that extend beyond 2022. The full outcome of the transition away from LIBOR cannot be determined at this time, but is not expected to have a material impact on the financial statements.

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Business Segments

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

Duke Energy

Duke Energy's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. The Gas Utilities and Infrastructure segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky and Duke Energy's natural gas storage, midstream pipeline and renewable natural gas investments.

The Commercial Renewables segment is primarily comprised of nonregulated utility-scale wind and solar generation assets located throughout the U.S. In 2021, Duke Energy continues to monitor recoverability of its renewable merchant plants located in the Electric Reliability Council of Texas West market and in the PJM West market due to declining market pricing and declining long-term forecasted energy prices. The assets were not impaired as of June 30, 2021, because the carrying value of approximately $208 million continues to approximate the aggregate estimated future undiscounted cash flows. Duke Energy has a 50% ownership interest in these assets. A continued decline in energy market pricing would likely result in a future impairment.

The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs, Duke Energy’s wholly owned captive insurance company, Bison, and Duke Energy's ownership interest in National Methanol Company.

Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.

	Three Months Ended June 30, 2021
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	5,328	$	305	$	119	$	5,752	$	6	$	—	$	5,758
Intersegment revenues	7		22		—		29		21		(50)		—
Total revenues	$	5,335	$	327	$	119	$	5,781	$	27	$	(50)	$	5,758
Segment income (loss)(a)	$	935	$	17	$	47	$	999	$	(248)	$	—	$	751
Less: Noncontrolling interests													67
Add: Preferred stock dividend													14
Net Income													$	698
Segment assets	$	140,591	$	14,321	$	6,956	$	161,868	$	3,524	$	(7)	$	165,385

	Three Months Ended June 30, 2020
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	5,026	$	265	$	123	$	5,414	$	7	$	—	$	5,421
Intersegment revenues	8		24		—		32		19		(51)		—
Total revenues	$	5,034	$	289	$	123	$	5,446	$	26	$	(51)	$	5,421
Segment income (loss)(b)	$	753	$	(1,576)	$	90	$	(733)	$	(84)	$	—	$	(817)
Less: Noncontrolling interests													90
Add: Preferred stock dividend													15
Net Income													$	(892)

(a)    Gas Utilities and Infrastructure includes $16 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Other includes $131 million recorded within Impairment of assets and other charges, $27 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Condensed Consolidated Statements of Operations, related to the workplace and workforce realignment. See Note 1 for additional information.

(b)    Gas Utilities and Infrastructure includes $2 billion recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information.

	Six Months Ended June 30, 2021
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	10,601	$	1,057	$	238	$	11,896	$	12	$	—	$	11,908
Intersegment revenues	15		45		—		60		41		(101)		—
Total revenues	$	10,616	$	1,102	$	238	$	11,956	$	53	$	(101)	$	11,908
Segment income (loss)(a)	$	1,755	$	262	$	74	$	2,091	$	(387)	$	—	$	1,704
Less: Noncontrolling interests													118
Add: Preferred stock dividend													53
Net Income													$	1,639

	Six Months Ended June 30, 2020
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	10,200	$	905	$	252	$	11,357	$	13	$	—	$	11,370
Intersegment revenues	17		48		—		65		36		(101)		—
Total revenues	$	10,217	$	953	$	252	$	11,422	$	49	$	(101)	$	11,370
Segment income (loss)(b)	$	1,458	$	(1,327)	$	147	$	278	$	(196)	$	—	$	82
Less: Noncontrolling interests													138
Add: Preferred stock dividend													54
Net Income													$	(2)

(a)    Gas Utilities and Infrastructure includes $22 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Commercial Renewables includes a $35 million loss related to Texas Storm Uri, of which ($8 million) is recorded within Nonregulated electric and other revenues, $2 million within Operations, maintenance and other, $29 million within Equity in earnings (losses) of unconsolidated affiliates and $12 million within Loss Attributable to Noncontrolling Interests on the Condensed Consolidated Statements of Operations. See Note 4 for additional information. Other includes $131 million recorded within Impairment of assets and other charges, $27 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Condensed Consolidated Statements of Operations, related to the workplace and workplace realignment. See Note 1 for additional information.

(b)    Gas Utilities and Infrastructure includes $2 billion recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Other includes a $98 million reversal, included in Operations, maintenance and other on the Condensed Consolidated Statements of Operations, of 2018 severance costs due to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case. See Note 3 for additional information.

Duke Energy Ohio

Duke Energy Ohio has two reportable segments, Electric Utilities and Infrastructure and Gas Utilities and Infrastructure. The remainder of Duke Energy Ohio's operations is presented as Other.

	Three Months Ended June 30, 2021
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Eliminations		Total
Total revenues	$	343	$	113	$	456	$	—	$	—	$	456
Segment income/Net income	$	24	$	23	$	47	$	(8)	$	—	$	39
Segment assets	$	6,645	$	3,668	$	10,313	$	28	$	(19)	$	10,322

	Three Months Ended June 30, 2020
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	330	$	93	$	423	$	—	$	423
Segment income/Net income	$	44	$	23	$	67	$	(1)	$	66

	Six Months Ended June 30, 2021
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	706	$	282	$	988	$	—	$	988
Segment income/Net (loss) income	$	74	$	66	$	140	$	(10)	$	130

	Six Months Ended June 30, 2020
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	676	$	245	$	921	$	—	$	921
Segment income/Net (loss) income	$	74	$	59	$	133	$	(2)	$	131

XML

Regulatory Matters

6 Months Ended

Jun. 30, 2021

Regulated Operations [Abstract]

Regulatory Matters

REGULATORY MATTERS

RATE-RELATED INFORMATION

The NCUC, PSCSC, FPSC, IURC, PUCO, TPUC and KPSC approve rates for retail electric and natural gas services within their states. The FERC approves rates for electric sales to wholesale customers served under cost-based rates (excluding Ohio and Indiana), as well as sales of transmission service. The FERC also regulates certification and siting of new interstate natural gas pipeline projects.

Duke Energy Carolinas and Duke Energy Progress

2021 Coal Ash Settlement

On January 22, 2021, Duke Energy Carolinas and Duke Energy Progress entered into the Coal Combustion Residuals Settlement Agreement (the “CCR Settlement Agreement”) with the North Carolina Public Staff (Public Staff), the North Carolina Attorney General’s Office and the Sierra Club (collectively, the "Settling Parties"), which was filed with the NCUC on January 25, 2021. The CCR Settlement Agreement resolves all coal ash prudence and cost recovery issues in connection with 2019 rate cases filed by Duke Energy Carolinas and Duke Energy Progress with the NCUC, as well as the equitable sharing issue on remand from the 2017 Duke Energy Carolinas and Duke Energy Progress North Carolina rate cases as a result of the December 11, 2020 North Carolina Supreme Court opinion. The settlement also provides clarity on coal ash cost recovery in North Carolina for Duke Energy Carolinas and Duke Energy Progress through January 2030 and February 2030 (the "Term"), respectively.

Duke Energy Carolinas and Duke Energy Progress agreed not to seek recovery of approximately $1 billion of systemwide deferred coal ash expenditures, but will retain the ability to earn a debt and equity return during the amortization period, which shall be five years under the 2019 North Carolina rate cases and will be set by the NCUC in future rate case proceedings. The equity return and the amortization period on deferred coal ash costs under the 2017 Duke Energy Carolinas and Duke Energy Progress North Carolina rate cases will remain unaffected. The equity return on deferred coal ash costs under the 2019 North Carolina rate cases and future rate cases in North Carolina will be set at 150 basis points lower than the authorized return on equity (ROE) then in effect, with a capital structure composed of 48% debt and 52% equity. Duke Energy Carolinas and Duke Energy Progress retain the ability to earn a full WACC return during the deferral period, which is the period from when costs are incurred until they are recovered in rates.

The Settling Parties agreed that execution by Duke Energy Carolinas and Duke Energy Progress of a settlement agreement between themselves and the NCDEQ dated December 31, 2019, (the “DEQ Settlement”) and the coal ash management plans included therein or subsequently approved by DEQ are reasonable and prudent. The Settling Parties retain the right to challenge the reasonableness and prudence of actions taken by Duke Energy Carolinas and Duke Energy Progress and costs incurred to implement the scope of work agreed upon in the DEQ Settlement, after February 1, 2020, and March 1, 2020, for Duke Energy Carolinas and Duke Energy Progress, respectively. The Settling Parties further agreed to waive rights through the Term to challenge the reasonableness or prudence of Duke Energy Carolinas’ and Duke Energy Progress’ historical coal ash management practices, and to waive the right to assert any arguments that future coal ash costs, including financing costs, shall be shared between either company and customers through equitable sharing or any other rate base or return adjustment that shares the revenue requirement burden of coal ash costs not otherwise disallowed due to imprudence.

The Settling Parties agreed to a sharing arrangement for future coal ash insurance litigation proceeds between Duke Energy Carolinas and Duke Energy Progress and North Carolina customers, if achieved.

As a result of the CCR Settlement Agreement, Duke Energy Carolinas and Duke Energy Progress recorded a pretax charge of approximately $454 million and $494 million, respectively, in the fourth quarter of 2020 to Impairment charges and a reversal of approximately $50 million and $102 million, respectively, to Regulated electric operating revenues on the respective Consolidated Statements of Operations.

The Coal Ash Settlement was approved without modification in the NCUC Orders in the 2019 rate cases on March 31, 2021, and April 16, 2021, for Duke Energy Carolinas and Duke Energy Progress, respectively. The NCUC issued an Order on Remand Accepting CCR Settlement and Affirming Previous Orders Setting Rates and Imposing Penalties in the 2017 rate cases on June 25, 2021.

2020 North Carolina Storm Securitization Filings

On October 26, 2020, Duke Energy Carolinas and Duke Energy Progress filed a joint petition with the NCUC, as agreed to in partial settlements reached in the 2019 North Carolina Rate Cases for Duke Energy Carolinas and Duke Energy Progress, seeking authorization for the financing of the costs of each utility's storm recovery activities required as a result of Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego. Specifically, Duke Energy Carolinas and Duke Energy Progress requested that the NCUC find that their storm recovery costs and related financing costs are appropriately financed by debt secured by storm recovery property, and that the commission issue financing orders by which each utility may accomplish such financing using a securitization structure. On January 27, 2021, Duke Energy Carolinas, Duke Energy Progress and the Public Staff filed an Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain accounting issues, including agreement to support an 18- to 20-year bond period. The total revenue requirement over a proposed 20-year bond period for the storm recovery charges is approximately $287 million for Duke Energy Carolinas and $920 million for Duke Energy Progress and will be finalized upon issuance of the bonds. A remote evidentiary hearing ended on January 29, 2021. In the NCUC Orders in the 2019 rate cases issued on March 31, 2021, and April 16, 2021, for Duke Energy Carolinas and Duke Energy Progress, respectively, the reasonableness and prudence of the deferred storm costs was approved. On May 10, 2021, the NCUC issued financing orders authorizing the companies to issue storm recovery bonds, subject to the terms of the financing orders, and approving the Agreement and Stipulation of Partial Settlement in its entirety. Duke Energy Carolinas and Duke Energy Progress are currently in the process of structuring and marketing the bonds that will be presented to the market.

COVID-19 Filings

North Carolina

Duke Energy Carolinas and Duke Energy Progress filed a joint petition on August 7, 2020, with the NCUC for deferral treatment of incremental costs and the cost of waived customer fees due to the COVID-19 pandemic. Comments on the joint petition were filed on November 5, 2020, and reply comments were filed on November 30, 2020. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter.

South Carolina

Duke Energy Carolinas and Duke Energy Progress filed a report on June 30, 2020, as required by PSCSC order, reporting revenue impact, costs and savings related to COVID-19 to date. On August 14, 2020, Duke Energy Carolinas and Duke Energy Progress filed a joint petition with the PSCSC for approval of an accounting order to defer incremental COVID-19 related costs incurred through June 30, 2020, and for the ongoing months during the duration of the COVID-19 pandemic. Duke Energy Carolinas and Duke Energy Progress withdrew their joint petition on May 17, 2021.

Duke Energy Carolinas

2017 North Carolina Rate Case

On August 25, 2017, Duke Energy Carolinas filed an application with the NCUC for a rate increase for retail customers of approximately $647 million. On February 28, 2018, Duke Energy Carolinas and the Public Staff filed an Agreement and Stipulation of Partial Settlement resolving certain portions of the proceeding. Terms of the settlement included an ROE of 9.9% and a capital structure of 52% equity and 48% debt. On June 22, 2018, the NCUC issued an order approving the Stipulation of Partial Settlement and requiring a revenue reduction.

The North Carolina Attorney General and other parties separately filed Notices of Appeal to the North Carolina Supreme Court. The North Carolina Supreme Court consolidated the Duke Energy Carolinas and Duke Energy Progress appeals. On December 11, 2020, the North Carolina Supreme Court issued an opinion, which affirmed, in part, and reversed and remanded, in part, the NCUC’s decisions. In the Opinion, the court upheld the NCUC's decision to include coal ash costs in the cost of service, as well as the NCUC’s discretion to allow a return on the unamortized balance of coal ash costs. The court also remanded to the NCUC a single issue to consider the assessment of support for the Public Staff’s equitable sharing argument. In response to an NCUC order seeking comments on the proposed procedure on remand, on January 11, 2021, Duke Energy Carolinas, Duke Energy Progress, the Public Staff, the North Carolina Attorney General, Sierra Club and Carolina Industrial Group for Fair Utility Rates II and III filed joint comments proposing that the NCUC not hold additional evidentiary hearings, but instead rely upon existing records in the 2017 North Carolina rate cases, or in the alternative, the records in the 2019 North Carolina rate cases, in deciding the issue on remand. On January 22, 2021, Duke Energy Carolinas and Duke Energy Progress entered into the CCR Settlement Agreement with the Settling Parties, which was filed with the NCUC on January 25, 2021, and approved by the NCUC on March 31, 2021. The NCUC issued an Order on Remand Accepting CCR Settlement and Affirming Previous Orders Setting Rates and Imposing Penalties on June 25, 2021.

2019 North Carolina Rate Case

On September 30, 2019, Duke Energy Carolinas filed an application with the NCUC for a net rate increase for retail customers of approximately $291 million, which represented an approximate 6% increase in annual base revenues. The gross rate case revenue increase request was $445 million, which was offset by an EDIT rider of $154 million to return to customers North Carolina and federal EDIT resulting from recent reductions in corporate tax rates. The request for a rate increase was driven by major capital investments subsequent to the previous base rate case, coal ash pond closure costs, accelerated coal plant depreciation and deferred 2018 storm costs. Duke Energy Carolinas requested rates be effective no later than August 1, 2020. The NCUC established a procedural schedule with an evidentiary hearing to begin on March 23, 2020. On March 16, 2020, in consideration of public health and safety as a result of the COVID-19 pandemic, Duke Energy Carolinas filed a motion with the NCUC seeking a suspension of the procedural schedule in the rate case, including issuing discovery requests, and postponement of the evidentiary hearing for 60 days. Also on March 16, 2020, the NCUC issued an Order Postponing Hearing and Addressing Procedural Matters, which postponed the evidentiary hearing until further order by the commission.

On March 25, 2020, Duke Energy Carolinas and the Public Staff filed an Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain issues in the base rate proceeding. On July 24, 2020, Duke Energy Carolinas filed its request for approval of its notice to customers required to implement temporary rates. On July 27, 2020, Duke Energy Carolinas filed a joint motion with Duke Energy Progress and the Public Staff notifying the commission that the parties reached a joint partial settlement with the Public Staff. Also on July 27, 2020, Duke Energy Carolinas filed a letter stating that it intended to update its temporary rates calculation to reflect the terms of the partial settlement. On July 31, 2020, Duke Energy Carolinas and the Public Staff filed a Second Agreement and Stipulation of Partial Settlement (Second Partial Settlement), subject to review and approval of the NCUC, resolving certain remaining issues in the base rate proceeding. The remaining items litigated at hearing included recovery of deferred coal ash compliance costs that are subject to asset retirement obligation accounting, implementation of new depreciation rates and the amortization period of the loss on the hydro station sale.

On August 4, 2020, Duke Energy Carolinas filed an amended motion for approval of its amended notice to customers, seeking to exercise its statutory right to implement temporary rates subject to refund on or after August 24, 2020. The revenue requirement to be recovered, subject to refund, through the temporary rates was based on and consistent with the base rate component of the Second Partial Settlement and excluded the items to be litigated noted above. The NCUC approved the August 4, 2020 amended temporary rates motion on August 6, 2020, and temporary rates went into effect on August 24, 2020.

The Duke Energy Carolinas evidentiary hearing concluded on September 18, 2020, and post-hearing filings were made with the NCUC from all parties by November 4, 2020. On January 22, 2021, Duke Energy Carolinas and Duke Energy Progress entered into the CCR Settlement Agreement with the Settling Parties, which was filed with the NCUC on January 25, 2021.

On March 31, 2021, the NCUC issued an order approving the March 25, 2020, and July 31, 2020, partial settlements. The order includes approval of 1) an ROE of 9.6% based upon a capital structure of 52% equity and 48% debt; 2) deferral treatment of approximately $800 million of grid improvement projects with a return; 3) a flow back period of five years for unprotected federal EDIT; and 4) the reasonableness and prudence of $213 million of deferred storm costs, which were removed from the rate case and for which Duke Energy Carolinas filed a petition seeking securitization in October 2020. Additionally, the order approved without modification the CCR Settlement Agreement.

The order denied Duke Energy Carolinas' proposal to shorten the remaining depreciable lives of certain Duke Energy Carolinas coal-fired generating units, indicating the appropriate proceeding for the review of generating plant retirements is Duke Energy Carolinas' integrated resource planning (IRP) proceeding.

On May 21, 2021, the NCUC issued an Order Approving Rate Schedules, which resulted in a net increase of approximately $33 million. Revised customer rates became effective on June 1, 2021. The deadline to appeal has passed and no parties appealed the NCUC's order.

2018 South Carolina Rate Case

On November 8, 2018, Duke Energy Carolinas filed an application with the PSCSC for a rate increase for retail customers of approximately $168 million.

After hearings in March 2019, the PSCSC issued an order on May 21, 2019, which included an ROE of 9.5% and a capital structure of 53% equity and 47% debt. The order also included the following material components:

•Approval of cancellation of the Lee Nuclear Project, with Duke Energy Carolinas maintaining the Combined Operating License;

•Approval of recovery of $125 million (South Carolina retail portion) of Lee Nuclear Project development costs (including AFUDC through December 2017) over a 12-year period, but denial of a return on the deferred balance of costs;

•Approval of recovery of $96 million of coal ash costs over a five-year period with a return at Duke Energy Carolinas' WACC;

•Denial of recovery of $115 million of certain coal ash costs deemed to be related to the Coal Ash Act and incremental to the federal CCR rule;

•Approval of a $66 million decrease to base rates to reflect the change in ongoing tax expense, primarily the reduction in the federal income tax rate from 35% to 21%;

•Approval of a $45 million decrease through the EDIT Rider to return EDIT resulting from the federal tax rate change and deferred revenues since January 2018 related to the change, to be returned in accordance with the Average Rate Assumption Method (ARAM) for protected EDIT, over a 20-year period for unprotected EDIT associated with Property, Plant and Equipment, over a five-year period for unprotected EDIT not associated with Property, Plant and Equipment and over a five-year period for the deferred revenues; and

•Approval of a $17 million decrease through the EDIT Rider related to reductions in the North Carolina state income tax rate from 6.9% to 2.5% to be returned over a five-year period.

As a result of the order, revised customer rates were effective June 1, 2019. On May 31, 2019, Duke Energy Carolinas filed a Petition for Rehearing or Reconsideration of that order contending substantial rights of Duke Energy Carolinas were prejudiced by unlawful, arbitrary and capricious rulings by the PSCSC on certain issues presented in the proceeding. On June 19, 2019, the PSCSC issued a Directive denying Duke Energy Carolinas' request to rehear or reconsider the commission's rulings on certain issues presented in the proceeding including coal ash remediation and disposal costs, ROE and the recovery of a return on deferred operation and maintenance expenses. An order detailing the commission's decision in the Directive was issued on October 18, 2019. Duke Energy Carolinas filed a notice of appeal on November 15, 2019, with the Supreme Court of South Carolina. On November 20, 2019, the South Carolina Energy Users Committee filed a Notice of Appeal with the Supreme Court of South Carolina. Initial briefs were filed on April 21, 2020, which included the South Carolina Energy User's Committee brief arguing that the PSCSC erred in allowing Duke Energy Carolinas' recovery of costs related to the Lee Nuclear Station. Response briefs were filed on July 6, 2020, and reply briefs were filed on August 11, 2020. Oral arguments were heard before the Supreme Court of South Carolina on May 26, 2021. Based on legal analysis and the filing of the appeal, Duke Energy Carolinas has not recorded an adjustment for its deferred coal ash costs in this matter. Duke Energy Carolinas cannot predict the outcome of this matter.

Duke Energy Progress

2017 North Carolina Rate Case

On June 1, 2017, Duke Energy Progress filed an application with the NCUC for a rate increase for retail customers of approximately $477 million, which was subsequently adjusted to $420 million. On November 22, 2017, Duke Energy Progress and the Public Staff filed an Agreement and Stipulation of Partial Settlement resolving certain portions of the proceeding. Terms of the settlement included an ROE of 9.9% and a capital structure of 52% equity and 48% debt. On February 23, 2018, the NCUC issued an order approving the stipulation. The Public Staff, the North Carolina Attorney General and the Sierra Club filed notices of appeal to the North Carolina Supreme Court.

The North Carolina Supreme Court consolidated the Duke Energy Carolinas and Duke Energy Progress appeals. On December 11, 2020, the North Carolina Supreme Court issued an opinion, which affirmed, in part, and reversed and remanded, in part, the NCUC’s decisions. In the Opinion, the court upheld the NCUC's decision to include coal ash costs in the cost of service, as well as the NCUC’s discretion to allow a return on the unamortized balance of coal ash costs. The court also remanded to the NCUC a single issue to consider the assessment of support for the Public Staff’s equitable sharing argument. In response to an NCUC order seeking comments on the proposed procedure on remand, on January 11, 2021, Duke Energy Carolinas, Duke Energy Progress, the Public Staff, the North Carolina Attorney General, Sierra Club and Carolina Industrial Group for Fair Utility Rates II and III filed joint comments proposing that the NCUC not hold additional evidentiary hearings, but instead rely upon existing records in the 2017 North Carolina rate cases or in the alternative the records in the 2019 North Carolina rate cases, in deciding the issue on remand. On January 22, 2021, Duke Energy Progress and Duke Energy Carolinas entered into the CCR Settlement Agreement with the Settling Parties, which was filed with the NCUC on January 25, 2021, and approved by the NCUC on April 16, 2021. The NCUC issued an Order on Remand Accepting CCR Settlement and Affirming Previous Orders Setting Rates and Imposing Penalties on June 25, 2021.

2019 North Carolina Rate Case

On October 30, 2019, Duke Energy Progress filed an application with the NCUC for a net rate increase for retail customers of approximately $464 million, which represented an approximate 12.3% increase in annual base revenues. The gross rate case revenue increase request was $586 million, which was offset by riders of $122 million, primarily an EDIT rider of $120 million to return to customers North Carolina and federal EDIT resulting from recent reductions in corporate tax rates. The request for a rate increase was driven by major capital investments subsequent to the previous base rate case, coal ash pond closure costs, accelerated coal plant depreciation and deferred 2018 storm costs. Duke Energy Progress sought to defer and recover incremental Hurricane Dorian storm costs in this proceeding and requested rates be effective no later than September 1, 2020. As a result of the COVID-19 pandemic, on March 24, 2020, the NCUC suspended the procedural schedule and postponed the previously scheduled evidentiary hearing on this matter indefinitely. On April 7, 2020, the NCUC issued an order partially resuming the procedural schedule requiring intervenors to file direct testimony on April 13, 2020. Public Staff filed supplemental direct testimony on April 23, 2020. Duke Energy Progress filed rebuttal testimony on May 4, 2020.

On June 2, 2020, Duke Energy Progress and the Public Staff filed an Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain issues in the base rate proceeding. On July 27, 2020, Duke Energy Progress filed a joint motion with Duke Energy Carolinas and the Public Staff notifying the commission that the parties reached a joint partial settlement with the Public Staff. On July 31, 2020, Duke Energy Progress and the Public Staff filed a Second Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain remaining issues in the base rate proceeding. The remaining items litigated at hearing included recovery of deferred coal ash compliance costs that are subject to asset retirement obligation accounting and implementation of new depreciation rates.

On August 7, 2020, Duke Energy Progress filed a motion for approval of notice required to implement temporary rates, seeking to exercise its statutory right to implement temporary rates subject to refund on or after September 1, 2020. The revenue requirement to be recovered subject to refund through the temporary rates was based on and consistent with the terms of the base rate component of the settlement agreements with the Public Staff and excluded items to be litigated noted above. In addition, Duke Energy Progress also sought authorization to place a temporary decrement EDIT Rider into effect, concurrent with the temporary base rate change. The NCUC approved the August 7, 2020 temporary rates motion on August 11, 2020, and temporary rates went into effect on September 1, 2020.

The Duke Energy Progress evidentiary hearing concluded on October 6, 2020, and post-hearing filings were filed with the NCUC from all parties by December 4, 2020. On January 22, 2021, Duke Energy Progress and Duke Energy Carolinas entered into the CCR Settlement Agreement with the Settling Parties, which was filed with the NCUC on January 25, 2021.

On April 16, 2021, the NCUC issued an order approving the June 2, 2020, and July 31, 2020, partial settlements. The order includes approval of 1) an ROE of 9.6% based upon a capital structure of 52% equity and 48% debt; 2) deferral treatment of approximately $400 million of grid improvement projects with a return; 3) a flow back period of five years for unprotected federal EDIT; and 4) the reasonableness and prudence of approximately $714 million of deferred storm costs, which were removed from the rate case and for which Duke Energy Progress filed a petition seeking securitization in October 2020. Additionally, the order approved without modification the CCR Settlement Agreement.

The order denied Duke Energy Progress' proposal to shorten the remaining depreciable lives of certain Duke Energy Progress coal-fired generating units, indicating the appropriate proceeding for the review of generating plant retirements is Duke Energy Progress' IRP proceeding.

On May 21, 2021, the NCUC issued an Order Approving Rate Schedules, which resulted in a net increase of approximately $178 million. Revised customer rates became effective on June 1, 2021. The deadline to appeal has passed and no parties appealed the NCUC's order.

2018 South Carolina Rate Case

On November 8, 2018, Duke Energy Progress filed an application with the PSCSC for a rate increase for retail customers of approximately $59 million.

After hearings in April 2019, the PSCSC issued an order on May 21, 2019, which included an ROE of 9.5% and a capital structure of 53% equity and 47% debt. The order also included the following material components:

•Approval of recovery of $4 million of coal ash costs over a five-year period with a return at Duke Energy Progress' WACC;

•Denial of recovery of $65 million of certain coal ash costs deemed to be related to the Coal Ash Act and incremental to the federal CCR rule;

•Approval of a $17 million decrease to base rates to reflect the change in ongoing tax expense, primarily the reduction in the federal income tax rate from 35% to 21%;

•Approval of a $12 million decrease through the EDIT Tax Savings Rider resulting from the federal tax rate change and deferred revenues since January 2018 related to the change, to be returned in accordance with ARAM for protected EDIT, over a 20-year period for unprotected EDIT associated with Property, Plant and Equipment, over a five-year period for unprotected EDIT not associated with Property, Plant and Equipment and over a three-year period for the deferred revenues; and

•Approval of a $12 million increase due to the expiration of EDIT related to reductions in the North Carolina state income tax rate from 6.9% to 2.5%.

As a result of the order, revised customer rates were effective June 1, 2019. On May 31, 2019, Duke Energy Progress filed a Petition for Rehearing or Reconsideration of that order contending substantial rights of Duke Energy Progress were prejudiced by unlawful, arbitrary and capricious rulings by the PSCSC on certain issues presented in the proceeding. On June 19, 2019, the PSCSC issued a Directive denying Duke Energy Progress' request to rehear or reconsider the commission's rulings on certain issues presented in the proceeding including coal ash remediation and disposal costs, ROE and the recovery of a return on deferred operation and maintenance expenses, but allowing additional litigation-related costs. As a result of the Directive allowing litigation-related costs, customer rates were revised effective July 1, 2019. An order detailing the commission's decision in the Directive was issued on October 18, 2019. Duke Energy Progress filed a notice of appeal on November 15, 2019, with the Supreme Court of South Carolina. Initial briefs were filed on April 21, 2020. Response briefs were filed on July 6, 2020, and reply briefs were filed on August 11, 2020. Oral arguments were heard before the Supreme Court of South Carolina on May 26, 2021. Based on legal analysis and the filing of the appeal, Duke Energy Progress has not recorded an adjustment for its deferred coal ash costs in this matter. Duke Energy Progress cannot predict the outcome of this matter.

Western Carolinas Modernization Plan

On October 8, 2018, Duke Energy Progress filed an application with the NCUC for a CPCN to construct the Hot Springs Microgrid Solar and Battery Storage Facility, which was approved with certain conditions on May 10, 2019. A hearing to update the NCUC on the status of the project was held on March 5, 2020. Construction began in May 2020 with commercial operation expected to begin in October 2021.

On July 27, 2020, Duke Energy Progress filed an application with the NCUC for a CPCN to construct the Woodfin Solar Facility, a 5-MW solar generating facility to be constructed on a closed landfill in Buncombe County. The expert hearing was held on November 18, 2020. The application was approved and a CPCN was granted by order of the NCUC on April 20, 2021.

FERC Return on Equity Complaints

On October 11, 2019, North Carolina Eastern Municipal Power Agency (NCEMPA) filed a complaint at the FERC against Duke Energy Progress pursuant to Section 206 of the Federal Power Act (FPA), alleging that the 11% stated ROE component contained in the demand formula rate in the Full Requirements Power Purchase Agreement (FRPPA) between NCEMPA and Duke Energy Progress is unjust and unreasonable. On July 16, 2020, the FERC set this matter for hearing and settlement judge procedures and established a refund effective date of October 11, 2019. In its order setting the matter for settlement, the FERC allowed for the consideration of variations to the base transmission-related ROE methodology developed in its Order No. 569-A, through the introduction of “specific facts and circumstances” involving issues specific to the case. The parties reached a settlement in principle at a settlement conference on January 7, 2021, and filed a settlement package on March 10, 2021. The FERC Trial Staff filed comments in support of the settlement. On April 19, 2021, the Settlement Judge certified the settlement to the FERC as an uncontested settlement. The FERC approved the settlement on May 25, 2021, and Duke Energy Progress filed compliance documents on June 10, 2021.

On October 16, 2020, North Carolina Electric Membership Corporation (NCEMC) filed a complaint at the FERC against Duke Energy Progress pursuant to Section 206 of the FPA, alleging that the 11% stated ROE component in the demand formula rate in the Power Supply and Coordination Agreement between NCEMC and Duke Energy Progress is unjust and unreasonable. Under FPA Section 206, the earliest refund effective date that the FERC can establish is the date of the filing of the complaint. Duke Energy Progress responded to the complaint on November 20, 2020, seeking dismissal, demonstrating that the 11% ROE is just and reasonable for the service provided. The parties filed responsive pleadings and are awaiting an order from the FERC. Duke Energy Progress cannot predict the outcome of this matter.

Duke Energy Florida

2021 Settlement Agreement

On January 14, 2021, Duke Energy Florida filed a Settlement Agreement (the “2021 Settlement”) with the FPSC. The parties to the 2021 Settlement include Duke Energy Florida, the Office of Public Counsel (OPC), the Florida Industrial Power Users Group, White Springs Agricultural Chemicals, Inc. d/b/a PCS Phosphate and NUCOR Steel Florida, Inc. (collectively, the “Parties”).

Pursuant to the 2021 Settlement, the Parties agreed to a base rate stay-out provision that expires year-end 2024; however, Duke Energy Florida is allowed an increase to its base rates of an incremental $67 million in 2022, $49 million in 2023 and $79 million in 2024, subject to adjustment in the event of tax reform during the years 2021, 2022 and 2023. The Parties also agreed to an ROE band of 8.85% to 10.85% with a midpoint of 9.85% based on a capital structure of 53% equity and 47% debt. The ROE band can be increased by 25 basis points if the average 30-year U.S. Treasury rate increases 50 basis points or more over a six-month period in which case the midpoint ROE would rise from 9.85% to 10.10%. Duke Energy Florida will also be able to retain the DOE award of approximately $173 million for spent nuclear fuel, which is expected to be received in 2022, in order to mitigate customer rates over the term of the 2021 Settlement. In return, Duke Energy Florida will be able to recognize the $173 million into earnings from 2022 through 2024.

In addition to these terms, the 2021 Settlement contains provisions related to the accelerated depreciation of Crystal River Units 4-5, the approval of approximately $1 billion in future investments in new cost-effective solar power, the implementation of a new Electric Vehicle Charging Station Program and the deferral and recovery of costs in connection with the implementation of Duke Energy Florida’s Vision Florida program, which explores various emerging non-carbon emitting generation technology, distributed technologies and resiliency projects, among other things. The 2021 Settlement also resolves remaining unrecovered storm costs for Hurricane Dorian and Hurricane Michael.

The FPSC approved the 2021 Settlement on May 4, 2021, issuing an order on June 4, 2021. Revised customer rates will be effective January 1, 2022, with subsequent base rate increases effective January 1, 2023, and January 1, 2024.

Storm Restoration Cost Recovery

Duke Energy Florida filed a petition with the FPSC on April 30, 2019, to recover $223 million of estimated retail incremental storm restoration costs for Hurricane Michael, consistent with the provisions in the 2017 Settlement, and the FPSC approved the petition on June 11, 2019. The FPSC also approved allowing Duke Energy Florida to use the tax savings resulting from the Tax Act to recover these storm costs in lieu of implementing a storm surcharge. Approved storm costs are currently expected to be fully recovered by year-end 2021. On November 22, 2019, Duke Energy Florida filed a petition for approval of actual retail recoverable storm restoration costs related to Hurricane Michael in the amount of $191 million plus interest. On May 19, 2020, Duke Energy Florida filed a supplemental true up reducing the actual retail recoverable storm restoration costs related to Hurricane Michael by approximately $3 million, resulting in a total request to recover $188 million actual retail recoverable storm restoration costs, plus interest. Approximately $3 million and $80 million of these costs are included in Regulatory assets within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets as of June 30, 2021, and December 31, 2020, respectively.

Duke Energy Florida filed a petition with the FPSC on December 19, 2019, to recover $169 million of estimated retail incremental storm restoration costs for Hurricane Dorian, consistent with the provisions in the 2017 Settlement and the FPSC approved the petition on February 24, 2020. The final actual amount of $145 million was filed on September 30, 2020. The 2021 Settlement resolved all matters regarding storm cost recovery relating to Hurricane Michael and Hurricane Dorian.

Clean Energy Connection

On July 1, 2020, Duke Energy Florida petitioned the FPSC for approval of a voluntary solar program. The program consists of 10 new solar generating facilities with combined capacity of approximately 750 MW. The program allows participants to support cost-effective solar development in Florida by paying a subscription fee based on per kilowatt-subscriptions and receiving a credit on their bill based on the actual generation associated with their portion of the solar portfolio. The estimated cost of the 10 new solar generation facilities is approximately $1 billion over the next four years, and this investment will be included in base rates offset by the revenue from the subscription fees. The credits will be included for recovery in the fuel cost recovery clause. A remote hearing was held on November 17, 2020, and post-hearing briefs were filed with the FPSC from all parties by December 9, 2020. The FPSC voted to approve the program on January 5, 2021, and issued its written order on January 26, 2021.

On February 24, 2021, the League of United Latin American Citizens (LULAC) filed a notice of appeal of the FPSC’s order approving the Clean Energy Connection to the Supreme Court of Florida. LULAC's initial brief was filed on May 26, 2021, and Appellees' response briefs were filed on July 26, 2021. The FPSC approval order remains in effect pending the outcome of the appeal. Duke Energy Florida cannot predict the outcome of this matter.

Duke Energy Ohio

Ohio House Bill 6

On July 23, 2019, House Bill 6 was signed into law and became effective January 1, 2020. Among other things, the bill allows for funding, through a rider mechanism referred to as the Clean Air Fund (Rider CAF), of two nuclear generating facilities located in Northern Ohio owned by Energy Harbor (f/k/a FirstEnergy Solutions), repeal of energy efficiency mandates and recovery of prudently incurred costs, net of any revenues, for Ohio investor-owned utilities that are participants under the OVEC power agreement. The recovery is through a non-bypassable rider that replaced any existing recovery mechanism approved by the PUCO and will remain in place through 2030. As such, Duke Energy Ohio created the Legacy Generation Rider (Rider LGR) that replaced Rider PSR effective January 1, 2020. The amounts recoverable from customers are subject to an annual cap, with incremental costs that exceed such cap eligible for deferral and recovery subject to review. See Note 11 for additional discussion of Duke Energy Ohio's ownership interest in OVEC. House Bill 128 was signed into law on March 31, 2021, and became effective June 30, 2021. The bill removes nuclear plant funding from Rider CAF and does not impact OVEC cost recovery.

Energy Efficiency Cost Recovery

On February 26, 2020, the PUCO issued an order directing utilities to wind down their demand-side management programs by September 30, 2020, and to terminate the programs by December 31, 2020, in response to changes in Ohio law that eliminated Ohio's energy efficiency mandates. On March 27, 2020, Duke Energy Ohio filed an Application for Rehearing seeking clarification on the final true up and reconciliation process after 2020. On November 18, 2020, the PUCO issued two orders on the application for rehearing. The first order was a Third Entry on Rehearing on the Duke Energy Ohio portfolio holding the cost cap previously imposed was unlawful, a shared savings cap of $8 million pretax should be imposed and lost distribution revenues could not be recovered after December 31, 2020. The second order directs all utilities set the rider to zero effective January 1, 2021, and to file a separate application for final reconciliation of all energy efficiency costs prior to December 31, 2020. On December 18, 2020, Duke Energy Ohio filed an application for rehearing. On January 13, 2021, the application for rehearing was granted for further consideration. Duke Energy Ohio cannot predict the outcome of this matter.

On October 9, 2020, Duke Energy Ohio filed an application to implement a voluntary energy efficiency program portfolio to commence on January 1, 2021. The application proposes a mechanism for recovery of program costs and a benefit associated with avoided transmission and distribution costs. The application remains under review. Effective January 1, 2021, Duke Energy Ohio suspended its energy efficiency programs due to changes in Ohio law. On June 14, 2021, the PUCO issued an entry for each utility to file by July 15, 2021, a proposal to reestablish low-income programs through December 31, 2021. Duke Energy Ohio filed its application on July 14, 2021. Duke Energy Ohio cannot predict the outcome of this matter.

Natural Gas Pipeline Extension

Duke Energy Ohio is installing a new natural gas pipeline (the Central Corridor Project) in its Ohio service territory to increase system reliability and enable the retirement of older infrastructure. Duke Energy Ohio currently estimates the pipeline development costs and construction activities will range from $163 million to $245 million in direct costs (excluding overheads and AFUDC) and that construction of the pipeline extension will be completed before the 2021/2022 winter season. An evidentiary hearing on Duke Energy Ohio's application for a Certificate of Environmental Compatibility and Public Need concluded on April 11, 2019. On November 21, 2019, the Ohio Power Siting Board (OPSB) approved Duke Energy Ohio's application subject to 41 conditions on construction. Applications for rehearing were filed by several stakeholders on December 23, 2019, arguing that the OPSB approval was incorrect. On February 20, 2020, the OPSB denied the rehearing requests. On April 15, 2020, Those stakeholders filed a notice of appeal at the Supreme Court of Ohio of the OPSB’s decision approving Duke Energy Ohio’s Central Corridor project application. The appeal was fully briefed and the Ohio Supreme Court oral argument was held on March 31, 2021.er.

On September 22, 2020, Duke Energy Ohio filed an application with the OPSB for approval to amend the certificated pipeline route due to changes in the route negotiated with property owners and municipalities. On January 21, 2021, the OPSB approved the amended filing with recommended conditions that reaffirm previous conditions and provide guidance regarding local permitting and construction supervision. Duke Energy Ohio cannot predict the outcome of this matter.

MGP Cost Recovery

In an order issued in 2013, the PUCO approved Duke Energy Ohio's deferral and recovery of costs related to environmental remediation at two sites (East End and West End) that housed former MGP operations. Duke Energy Ohio has collected approximately $55 million in environmental remediation costs incurred between 2009 through 2012 through Rider MGP, which is currently suspended. Duke Energy Ohio has made annual applications with the PUCO to recover its incremental remediation costs consistent with the PUCO’s directive in Duke Energy Ohio’s 2012 natural gas base rate case. To date, the PUCO has not ruled on Duke Energy Ohio’s annual applications for the calendar years 2013 through 2019. On September 28, 2018, the staff of the PUCO issued a report recommending a disallowance of approximately $12 million of the $26 million in MGP remediation costs incurred between 2013 through 2017 that staff believes are not eligible for recovery. Staff interprets the PUCO’s 2012 order granting Duke Energy Ohio recovery of MGP remediation as limiting the recovery to work directly on the East End and West End sites. On October 30, 2018, Duke Energy Ohio filed reply comments objecting to the staff’s recommendations and explaining, among other things, the obligation Duke Energy Ohio has under Ohio law to remediate all areas impacted by the former MGPs and not just physical property that housed the former plants and equipment. On March 29, 2019, Duke Energy Ohio filed its annual application to recover incremental remediation expense for the calendar year 2018 seeking recovery of approximately $20 million in remediation costs. On July 12, 2019, the staff recommended a disallowance of approximately $11 million for work that staff believes occurred in areas not authorized for recovery. Additionally, staff recommended that any discussion pertaining to Duke Energy Ohio's recovery of ongoing MGP costs should be directly tied to or netted against insurance proceeds collected by Duke Energy Ohio. An evidentiary hearing concluded on November 21, 2019. Initial briefs were filed on January 17, 2020, and reply briefs were filed on February 14, 2020. Duke Energy Ohio cannot predict the outcome of this matter.

On March 31, 2020, Duke Energy Ohio filed its annual application to recover incremental MGP remediation expense, seeking recovery of approximately $39 million in remediation costs incurred during 2019. On July 23, 2020, the staff of the PUCO recommended a disallowance of approximately $4 million for work the staff believes occurred in areas not authorized for recovery. Additionally, the staff recommended insurance proceeds, net of litigation costs and attorney fees, should be paid to customers and not be held by Duke Energy Ohio until all investigation and remediation is complete. Duke Energy Ohio filed comments in response to the staff report on August 21, 2020, and intervenor comments were filed on November 9, 2020. Duke Energy Ohio cannot predict the outcome of this matter.

The 2012 PUCO order also contained conditional deadlines for completing the MGP environmental remediation and the deferral of related remediation costs. Subsequent to the order, the deadline was extended to December 31, 2019. On May 10, 2019, Duke Energy Ohio filed an application requesting a continuation of its existing deferral authority for MGP remediation that must occur after December 31, 2019. On July 12, 2019, staff recommended the commission deny the deferral authority request. On September 13, 2019, intervenor comments were filed opposing Duke Energy Ohio's request for continuation of existing deferral authority and on October 2, 2019, Duke Energy Ohio filed reply comments. Duke Energy Ohio cannot predict the outcome of this matter.

Tax Act – Ohio

On December 21, 2018, Duke Energy Ohio filed an application to change its base rate tariffs and establish a new rider to implement the benefits of the Tax Act for natural gas customers. Duke Energy Ohio requested commission approval to implement the tariff changes and rider effective April 1, 2019. The new rider will flow through to customers the benefit of the reduction in the statutory federal tax rate from 35% to 21% since January 1, 2018, all future benefits of the lower tax rates and a full refund of deferred income taxes collected at the higher tax rates in prior years. Deferred income taxes subject to normalization rules will be refunded consistent with federal law and deferred income taxes not subject to normalization rules will be refunded over a 10-year period. The PUCO established a procedural schedule and testimony was filed on July 31, 2019. An evidentiary hearing occurred on August 7, 2019. Initial briefs were filed on September 11, 2019. Reply briefs were filed on September 25, 2019. Duke Energy Ohio cannot predict the outcome of this matter.

Duke Energy Kentucky Natural Gas Base Rate Case

On June 1, 2021, Duke Energy Kentucky filed an application with the KPSC requesting an increase in natural gas base rates of approximately $15 million, an approximate 13% average increase across all customer classes. The drivers for this case are capital invested since Duke Energy Kentucky's last natural gas base rate case in 2018. Duke Energy Kentucky is also seeking implementation of a Governmental Mandate Adjustment mechanism (Rider GMA) in order to recover from or pay to customers the financial impact of governmental directives and mandates, including changes in federal or state tax rates and regulations issued by the Pipeline and Hazardous Materials Safety Administration. The KPSC accepted Duke Energy Kentucky’s filing as of June 3, 2021, as meeting all filing requirements and issued its first round of discovery. A procedural schedule was set with a hearing scheduled for October 18, 2021. Duke Energy Kentucky cannot predict the outcome of this matter.

Duke Energy Indiana

2019 Indiana Rate Case

On July 2, 2019, Duke Energy Indiana filed a general rate case with the IURC for a rate increase for retail customers of approximately $395 million. The rebuttal case, filed on December 4, 2019, updated the requested revenue requirement to result in a 15.6% or $396 million average retail rate increase, including the impacts of the Utility Receipts Tax. Hearings concluded on February 7, 2020. On June 29, 2020, the IURC issued an order in the rate case approving a revenue increase of $146 million before certain adjustments and ratemaking refinements. The order approved Duke Energy Indiana’s requested forecasted rate base of $10.2 billion as of December 31, 2020, including the Edwardsport Integrated Gasification Combined Cycle (IGCC) Plant. The IURC reduced Duke Energy Indiana’s request by slightly more than $200 million, when accounting for the utility receipts tax and other adjustments. Approximately 50% of the reduction was due to a prospective change in depreciation and use of regulatory asset for the end-of-life inventory at retired generating plants, approximately 20% was due to the approved ROE of 9.7% versus the requested ROE of 10.4% and approximately 20% was related to miscellaneous earnings neutral adjustments. Step one rates were estimated to be approximately 75% of the total and became effective on July 30, 2020. Step two rates are estimated to be the remaining 25% of the total rate increase. Step two rates were approved July 28, 2021, and implemented in August 2021. Step two rates are based on a return on equity of 9.7% and actual December 31, 2020 capital structure with a 54% equity component. Step two rates will be reconciled to January 1, 2021. Several groups appealed the IURC order to the Indiana Court of Appeals. Appellate briefs were filed on October 14, 2020, focusing on three issues: wholesale sales allocations, coal ash basin cost recovery and the Edwardsport IGCC operating and maintenance expense level approved. The appeal was fully briefed in January 2021 and an oral argument was held on April 8, 2021. The Indiana Court of Appeals affirmed the IURC decision on May 13, 2021. The Indiana Office of Utility Consumer Counselor (OUCC) and the Duke Industrial Group filed a joint petition to transfer the rate case appeal to the Indiana Supreme Court on June 28, 2021. Response briefs were filed July 19, 2021. Duke Energy Indiana cannot predict the outcome of this matter.

2020 Indiana Coal Ash Recovery Case

In Duke Energy Indiana’s 2019 rate case, the IURC approved coal ash basin closure costs expended through 2018 including financing costs as a regulatory asset and included in rate base. The IURC also opened a subdocket to deal with the post-2018 coal ash related expenditures. Duke Energy Indiana filed testimony on April 15, 2020, in the coal ash subdocket requesting recovery for the post-2018 coal ash basin closure costs for plans that have been approved by the Indiana Department of Environmental Management as well as continuing deferral, with carrying costs, on the balance. An evidentiary hearing was held on September 14, 2020, and the parties agreed on a delayed briefing schedule that allows for the Indiana Rate Case appeal to proceed. Briefing will be completed by mid-September 2021. Duke Energy Indiana cannot predict the outcome of this matter.

Piedmont

2020 Tennessee Rate Case

On July 2, 2020, Piedmont filed an application with the TPUC, its first general rate case in Tennessee in nine years, for a rate increase for retail customers of approximately $30 million, which represents an approximate 15% increase in annual revenues. The rate increase is driven by significant infrastructure upgrade investments since Piedmont's previous rate case. Approximately half of the plant additions being added to rate base are categories of capital investment not covered under the IMR mechanism, which was approved in 2013. Piedmont amended its requested increase to approximately $26 million in December 2020. As authorized under Tennessee law, Piedmont implemented interim rates on January 2, 2021, at the level requested in its adjusted request. A settlement reached with the Tennessee Consumer Advocate in mid-January was filed with the TPUC on February 2, 2021. The settlement results in an increase of revenues of approximately $16 million and an ROE of 9.8%. On May 6, 2021, the TPUC issued an order approving the settlement. Revised customer rates became effective January 2, 2021. Piedmont refunded customers the difference between bills previously rendered under interim rates and such bills if rendered under approved rates, plus interest, in April 2021.

2021 North Carolina Rate Case

On March 22, 2021, Piedmont filed an application with the NCUC for a rate increase for retail customers of approximately $109 million, which represents an approximate 10% increase in retail revenues. The rate increase is driven by customer growth and significant infrastructure upgrade investments (plant additions) since the last general rate case. Approximately 30% of the plant additions being rolled into rate base are categories of plant investment that are covered under the IMR mechanism, which was originally approved as part of the 2013 North Carolina Rate Case. On July 28, 2021, Piedmont amended its requested increase to approximately $97 million. The NCUC has established a procedural schedule with an evidentiary hearing to commence on September 7, 2021. Piedmont cannot predict the outcome of this matter.

OTHER REGULATORY MATTERS

Atlantic Coast Pipeline, LLC

Atlantic Coast Pipeline (ACP pipeline) was planned to be an approximately 600-mile interstate natural gas pipeline running from West Virginia to North Carolina. Duke Energy indirectly owns a 47% interest, which is accounted for as an equity method investment through its Gas Utilities and Infrastructure segment.

As a result of the uncertainty created by various legal rulings, the potential impact on the cost and schedule for the project, the ongoing legal challenges and the risk of additional legal challenges and delays through the construction period and Dominion’s decision to sell substantially all of its gas transmission and storage segment assets, Duke Energy's Board of Directors and management decided that it was not prudent to continue to invest in the project. On July 5, 2020, Duke Energy and Dominion announced the cancellation of the ACP pipeline project.

As part of the pretax charges to earnings of approximately $2.1 billion recorded in June 2020, within Equity in (losses) earnings of unconsolidated affiliates on the Duke Energy Condensed Consolidated Statements of Operations, Duke Energy established liabilities related to the cancellation of the ACP pipeline project. In February 2021, Duke Energy paid approximately $855 million to fund ACP's outstanding debt, relieving Duke Energy of its guarantee. At June 30, 2021, there is $33 million and $69 million within Other Current Liabilities and Other Noncurrent Liabilities, respectively, in the Gas Utilities and Infrastructure segment. The liabilities represent Duke Energy's obligation of approximately $102 million to satisfy remaining ARO requirements to restore construction sites.

See Notes 1 and 11 for additional information regarding this transaction.

Potential Coal Plant Retirements

The Subsidiary Registrants periodically file integrated resource plans (IRPs) with their state regulatory commissions. The IRPs provide a view of forecasted energy needs over a long term (10 to 20 years) and options being considered to meet those needs. IRPs filed by the Subsidiary Registrants included planning assumptions to potentially retire certain coal-fired generating facilities in North Carolina and Indiana earlier than their current estimated useful lives. Duke Energy continues to evaluate the potential need to retire these coal-fired generating facilities earlier than the current estimated useful lives and plans to seek regulatory recovery for amounts that would not be otherwise recovered when any of these assets are retired.

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 Condensed Consolidated Balance Sheets as of June 30, 2021, and exclude capitalized asset retirement costs.

		Remaining Net
	Capacity	Book Value
	(in MW)	(in millions)
Duke Energy Carolinas
Allen Steam Station Units 1-2(a)	324	$	20
Allen Steam Station Units 4-5(b)	516	376
Cliffside Unit 5(b)	544	337
Duke Energy Progress
Mayo Unit 1(b)	704	650
Roxboro Units 3-4(b)	1,392	474
Duke Energy Florida
Crystal River Units 4-5(c)	1,410	1,670
Duke Energy Indiana (d)
Gibson Units 1-5(e)	2,822	1,840
Cayuga Units 1-2(e)	995	736
Total Duke Energy	8,707	$	6,103

(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.

(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.

(c)On January 14, 2021, Duke Energy Florida filed a settlement agreement 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 settlement was approved by the FPSC 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)On July 1, 2019, Duke Energy Indiana submitted its 2018 IRP with the IURC. The 2018 IRP included scenarios evaluating the potential retirement of coal-fired generating units at Gibson and Cayuga. 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.

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

COMMITMENTS AND CONTINGENCIES

ENVIRONMENTAL

The Duke Energy Registrants are subject to federal, state and local regulations regarding air and water quality, hazardous and solid waste disposal, coal ash and other environmental matters. These regulations can be changed from time to time, imposing new obligations on the Duke Energy Registrants. The following environmental matters impact all Duke Energy Registrants.

Remediation Activities

In addition to AROs recorded as a result of various environmental regulations, the Duke Energy Registrants are responsible for environmental remediation at various sites. These include certain properties that are part of ongoing operations and sites formerly owned or used by Duke Energy entities. These sites are in various stages of investigation, remediation and monitoring. Managed in conjunction with relevant federal, state and local agencies, remediation activities vary based upon site conditions and location, remediation requirements, complexity and sharing of responsibility. If remediation activities involve joint and several liability provisions, strict liability, or cost recovery or contribution actions, the Duke Energy Registrants could potentially be held responsible for environmental impacts caused by other potentially responsible parties and may also benefit from insurance policies or contractual indemnities that cover some or all cleanup costs. Liabilities are recorded when losses become probable and are reasonably estimable. The total costs that may be incurred cannot be estimated because the extent of environmental impact, allocation among potentially responsible parties, remediation alternatives and/or regulatory decisions have not yet been determined at all sites. Additional costs associated with remediation activities are likely to be incurred in the future and could be significant. Costs are typically expensed as Operation, maintenance and other on the Condensed Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable.

The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Accounts Payable within Current Liabilities and Other within Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets.

(in millions)	June 30, 2021		December 31, 2020
Reserves for Environmental Remediation
Duke Energy	$	74	$	75
Duke Energy Carolinas	20		19
Progress Energy	18		19
Duke Energy Progress	6		6
Duke Energy Florida	12		12
Duke Energy Ohio	21		22
Duke Energy Indiana	5		6
Piedmont	11		10

Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are not material except as presented in the table below.

(in millions)
Duke Energy	$	20
Duke Energy Carolinas	12
Duke Energy Ohio	4

LITIGATION

Duke Energy

Texas Storm Uri Tort Litigation

Duke Energy and several Duke Energy renewables project companies have been named in multiple lawsuits arising out of Texas Storm Uri in mid-February 2021, and particularly, in the deregulated market managed by the Electric Reliability Council of Texas. There are 24 state court actions that have been filed in counties across Texas and one case is pending in federal court in Texas. These lawsuits seek recovery for property damages, personal injury and for wrongful death allegedly incurred by the plaintiffs as a result of power losses, which the plaintiffs claim was the result of the defendants' failure to take appropriate precautions. The cases pending in state court have been consolidated into a Texas state court multidistrict litigation proceeding before a single judge to handle all pretrial coordination. Duke Energy cannot predict the outcomes of these state and federal litigation matters.

Duke Energy Carolinas and Duke Energy Progress

Coal Ash Insurance Coverage Litigation

In March 2017, Duke Energy Carolinas and Duke Energy Progress filed a civil action in the North Carolina Business Court against various insurance providers. The lawsuit seeks payment for coal ash related liabilities covered by third-party liability insurance policies. The insurance policies were issued between 1971 and 1986 and provide third-party liability insurance for property damage. The civil action seeks damages for breach of contract and indemnification for costs arising from the Coal Ash Act and the U.S. Environmental Protection Agency CCR rule at 15 coal-fired plants in North Carolina and South Carolina. Following completion of fact discovery, the parties' fully briefed and argued motions relating to multiple key legal matters. All but two insurer-defendants have reached settlements with Duke Energy Carolinas and Duke Energy Progress in advance of any rulings on these motions. Any coal ash litigation proceeds from these settlements will be distributed in accordance with the terms of the CCR Settlement Agreement with the North Carolina Attorney General and other parties, executed on January 22, 2021. For more information on the CCR Settlement Agreement, see Note 3. On August 4, 2021, the Court issued a favorable ruling denying dispositive motions from the two remaining defendants. Trial with the remaining defendants remains scheduled for January 24, 2022. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter.

Duke Energy Carolinas

NTE Carolinas II, LLC Litigation

In November 2017, Duke Energy Carolinas entered into a standard FERC large generator interconnection agreement (LGIA) with NTE Carolinas II, LLC (NTE), a company that proposed to build a combined-cycle natural gas plant in Rockingham County, North Carolina. On September 6, 2019, Duke Energy Carolinas filed a lawsuit in Mecklenburg County Superior Court against NTE for breach of contract, alleging that NTE's failure to pay benchmark payments for Duke Energy Carolinas' transmission system upgrades required under the interconnection agreement constituted a termination of the interconnection agreement. Duke Energy Carolinas is seeking a monetary judgment against NTE because NTE failed to make multiple milestone payments. The lawsuit was moved to federal court in North Carolina. NTE filed a motion to dismiss Duke Energy Carolinas’ complaint and brought counterclaims alleging anti-competitive conduct and violations of state and federal statutes. Duke Energy Carolinas filed a motion to dismiss NTE's counterclaims.

On May 21, 2020, in response to a NTE petition challenging Duke Energy Carolinas' termination of the LGIA, FERC issued a ruling that 1) it has exclusive jurisdiction to determine whether a transmission provider may terminate a LGIA; 2) FERC approval is required to terminate a conforming LGIA if objected to by the interconnection customer; and 3) Duke Energy may not announce the termination of a conforming LGIA unless FERC has approved the termination. FERC's Office of Enforcement also initiated an investigation of Duke Energy Carolinas into matters pertaining to the LGIA. Duke Energy Carolinas is cooperating with the Office of Enforcement but cannot predict the outcome of this investigation.

On August 17, 2020, the court denied both NTE’s and Duke Energy Carolinas’ Motion to Dismiss. The parties are in active discovery and trial is scheduled for June 20, 2022. Duke Energy Carolinas cannot predict the outcome of this matter.

Asbestos-related Injuries and Damages Claims

Duke Energy Carolinas has experienced numerous claims for indemnification and medical cost reimbursement related to asbestos exposure. These claims relate to damages for bodily injuries alleged to have arisen from exposure to or use of asbestos in connection with construction and maintenance activities conducted on its electric generation plants prior to 1985. As of June 30, 2021, there were 84 asserted claims for non-malignant cases with cumulative relief sought of up to $18 million, and 55 asserted claims for malignant cases with cumulative relief sought of up to $20 million. Based on Duke Energy Carolinas’ experience, it is expected that the ultimate resolution of most of these claims likely will be less than the amount claimed.

Duke Energy Carolinas has recognized asbestos-related reserves of $555 million at June 30, 2021, and $572 million at December 31, 2020. These reserves are classified in Other within Other Noncurrent Liabilities and Other within Current Liabilities on the Condensed Consolidated Balance Sheets. These reserves are based upon Duke Energy Carolinas' best estimate for current and future asbestos claims through 2040 and are recorded on an undiscounted basis. In light of the uncertainties inherent in a longer-term forecast, management does not believe they can reasonably estimate the indemnity and medical costs that might be incurred after 2040 related to such potential claims. It is possible Duke Energy Carolinas may incur asbestos liabilities in excess of the recorded reserves.

Duke Energy Carolinas has third-party insurance to cover certain losses related to asbestos-related injuries and damages above an aggregate self-insured retention. Duke Energy Carolinas’ cumulative payments began to exceed the self-insured retention in 2008. Future payments up to the policy limit will be reimbursed by the third-party insurance carrier. The insurance policy limit for potential future insurance recoveries indemnification and medical cost claim payments is $714 million in excess of the self-insured retention. Receivables for insurance recoveries were $704 million at June 30, 2021, and December 31, 2020. These amounts are classified in Other within Other Noncurrent Assets and Receivables within Current Assets on the Condensed Consolidated Balance Sheets. Duke Energy Carolinas is not aware of any uncertainties regarding the legal sufficiency of insurance claims. Duke Energy Carolinas believes the insurance recovery asset is probable of recovery as the insurance carrier continues to have a strong financial strength rating.

As described in Note 1, Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. The reserve for credit losses for insurance receivables based on adoption of the new standard is $15 million for Duke Energy and Duke Energy Carolinas as of June 30, 2021, and December 31, 2020. The insurance receivable is evaluated based on the risk of default and the historical losses, current conditions and expected conditions around collectability. Management evaluates the risk of default annually based on payment history, credit rating and changes in the risk of default from credit agencies.

Duke Energy Progress and Duke Energy Florida

Spent Nuclear Fuel Matters

On June 18, 2018, Duke Energy Progress and Duke Energy Florida sued the U.S. in the U.S. Court of Federal Claims for damages incurred for the period 2014 through 2018. The lawsuit claimed the Department of Energy breached a contract in failing to accept spent nuclear fuel under the Nuclear Waste Policy Act of 1982 and asserted damages for the cost of on-site storage in the amount of $100 million and $200 million for Duke Energy Progress and Duke Energy Florida, respectively. Discovery is ongoing and a trial is expected to occur in late 2021 or early 2022.

Duke Energy Florida

Power Purchase Dispute Arbitration

Duke Energy Florida, on behalf of its customers, entered into a PPA for the purchase of firm capacity and energy from a qualifying facility under the Public Utilities Regulatory Policies Act of 1978. Duke Energy Florida determined the qualifying facility did not perform in accordance with the PPA, and Duke Energy Florida terminated the PPA. The qualifying facility counterparty filed a confidential American Arbitration Association (AAA) arbitration demand, challenging the termination of the PPA and seeking damages.

The final arbitration hearing occurred during the week of December 7, 2020. An interim arbitral award was issued in March 2021, upholding Duke Energy Florida's positions on all issues and awarding the company termination costs. In May 2021, the final arbitral award was issued awarding Duke Energy Florida its claimed fees and costs.

Duke Energy Indiana

Coal Ash Basin Closure Plan Appeal

On January 27, 2020, Hoosier Environmental Council (HEC) filed a Petition for Administrative Review with the Indiana Office of Environmental Adjudication challenging the Indiana Department of Environmental Management’s December 10, 2019, partial approval of Duke Energy Indiana’s ash pond closure plan. After hearing oral arguments in early April 2021 on Duke Energy Indiana's and HEC's competing Motions for Summary Judgment, on May 4, 2021, the administrative court rejected all of HEC’s claims and issued a ruling in favor of Duke Energy Indiana. On June 3, 2021, HEC filed an appeal in Superior Court to seek judicial review of the order. Duke Energy Indiana cannot predict the outcome of this matter.

Other Litigation and Legal Proceedings

The Duke Energy Registrants are involved in other legal, tax and regulatory proceedings arising in the ordinary course of business, some of which involve significant amounts. The Duke Energy Registrants believe the final disposition of these proceedings will not have a material effect on their results of operations, cash flows or financial position.

The table below presents recorded reserves based on management’s best estimate of probable loss for legal matters, excluding asbestos-related reserves discussed above. Reserves are classified on the Condensed Consolidated Balance Sheets in Other within Other Noncurrent Liabilities and Other within Current Liabilities. The reasonably possible range of loss in excess of recorded reserves is not material, other than as described above.

(in millions)	June 30, 2021		December 31, 2020
Reserves for Legal Matters
Duke Energy	$	65	$	68
Duke Energy Carolinas	2		2
Progress Energy	58		61
Duke Energy Progress	12		13
Duke Energy Florida	26		28
Piedmont	1		1

OTHER COMMITMENTS AND CONTINGENCIES

General

As part of their normal business, the Duke Energy Registrants are party to various financial guarantees, performance guarantees and other contractual commitments to extend guarantees of credit and other assistance to various subsidiaries, investees and other third parties. These guarantees involve elements of performance and credit risk, which are not fully recognized on the Condensed Consolidated Balance Sheets and have uncapped maximum potential payments. However, the Duke Energy Registrants do not believe these guarantees will have a material effect on their results of operations, cash flows or financial position.

In addition, the Duke Energy Registrants enter into various fixed-price, noncancelable commitments to purchase or sell power or natural gas, take-or-pay arrangements, transportation, or throughput agreements and other contracts that may or may not be recognized on their respective Condensed Consolidated Balance Sheets. Some of these arrangements may be recognized at fair value on their respective Condensed Consolidated Balance Sheets if such contracts meet the definition of a derivative and the NPNS exception does not apply. In most cases, the Duke Energy Registrants’ purchase obligation contracts contain provisions for price adjustments, minimum purchase levels and other financial commitments.

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Debt and Credit Facilities

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Debt And Credit Facilities

DEBT AND CREDIT FACILITIES

SUMMARY OF SIGNIFICANT DEBT ISSUANCES

The following table summarizes significant debt issuances (in millions).

					Six Months Ended June 30, 2021
							Duke		Duke
	Maturity	Interest			Duke		Energy		Energy
Issuance Date	Date	Rate			Energy		(Parent)		Carolinas		Piedmont
Unsecured Debt
March 2021(a)	Mar 2031	2.500	%		$	350	$	—	$	—	$	350
June 2021(c)	Jun 2023	2.500	%	(b)	500		500		—		—
June 2021(c)	Jun 2031	2.550	%		1,000		1,000		—		—
June 2021(c)	Jun 2041	3.300	%		750		750		—		—
June 2021(c)	Jun 2051	3.500	%		750		750		—		—
First Mortgage Bonds
April 2021(d)	Apr 2031	2.550	%		550		—		550		—
April 2021(d)	Apr 2051	3.450	%		450		—		450		—
Total issuances					$	4,350	$	3,000	$	1,000	$	350

(a)Debt issued to repay at maturity $160 million senior unsecured notes due June 2021, pay down short-term debt and for general corporate purposes.

(b)Debt issuance has a floating interest rate.

(c)Debt issued to repay $1.75 billion of Duke Energy (Parent) 2021 debt maturities, to repay a portion of short-term debt and for general corporate purposes.

(d)Debt issued to repay at maturity $500 million first mortgage bonds due June 2021, pay down short-term debt and for general company purposes.

CURRENT MATURITIES OF LONG-TERM DEBT

The following table shows the significant components of Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.

(in millions)	Maturity Date	Interest Rate			June 30, 2021
Unsecured Debt
Duke Energy (Parent)(a)	August 2021	1.800	%		$	750
Duke Energy Florida	November 2021	0.391	%	(b)	200
Duke Energy Progress	February 2022	0.335	%	(b)	700
Duke Energy (Parent)	March 2022	3.227	%		300
Duke Energy (Parent)	March 2022	0.775	%	(b)	300
Progress Energy	April 2022	3.150	%		450
First Mortgage Bonds
Duke Energy Florida	August 2021	3.100	%		300
Duke Energy Progress	September 2021	3.000	%		500
Duke Energy Progress	September 2021	8.625	%		100
Duke Energy Indiana	January 2022	8.850	%		53
Duke Energy Carolinas	May 2022	3.350	%		350
Duke Energy Progress	May 2022	2.800	%		500
Other(c)					473
Current maturities of long-term debt					$	4,976

(a)    Debt was retired at par on August 1, 2021.

(b)    Debt has a floating interest rate.

(c)    Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.

AVAILABLE CREDIT FACILITIES

Master Credit Facility

In March 2021, Duke Energy amended its existing $8 billion Master Credit Facility to extend the termination date to March 2026. The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder.

The table below includes the current borrowing sublimits and available capacity under these credit facilities.

	June 30, 2021
			Duke		Duke		Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy		Energy		Energy
(in millions)	Energy		(Parent)		Carolinas		Progress		Florida		Ohio		Indiana		Piedmont
Facility size(a)	$	8,000	$	2,650	$	1,325	$	1,150	$	850	$	725	$	600	$	700
Reduction to backstop issuances
Commercial paper(b)	(2,747)		(549)		(767)		(418)		(360)		(411)		(150)		(92)
Outstanding letters of credit	(31)		(25)		(4)		(2)		—		—		—		—
Tax-exempt bonds	(81)		—		—		—		—		—		(81)		—
Available capacity under the Master Credit Facility	$	5,141	$	2,076	$	554	$	730	$	490	$	314	$	369	$	608

(a)Represents the sublimit of each borrower.

(b)Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies on the Condensed Consolidated Balance Sheets.

Other Credit Facilities

	June 30, 2021
(in millions)	Facility size		Amount drawn
Duke Energy (Parent) Three-Year Revolving Credit Facility(a)	$	1,000	$	500

(a)During March 2021, Duke Energy extended the maturity date of the Three-Year Revolving Credit Facility from May 2022 to May 2024.

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Goodwill

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

GOODWILL

Duke Energy

The following table presents the goodwill by reportable segment included on Duke Energy's Condensed Consolidated Balance Sheets at June 30, 2021, and December 31, 2020.

	Electric Utilities		Gas Utilities		Commercial
(in millions)	and Infrastructure		and Infrastructure		Renewables		Total
Goodwill balance	$	17,379	$	1,924	$	122	$	19,425
Accumulated impairment charges	—		—		(122)		(122)
Goodwill, adjusted for accumulated impairment charges	$	17,379	$	1,924	$	—	$	19,303

Duke Energy Ohio

Duke Energy Ohio's Goodwill balance of $920 million, allocated $596 million to Electric Utilities and Infrastructure and $324 million to Gas Utilities and Infrastructure, is presented net of accumulated impairment charges of $216 million on the Condensed Consolidated Balance Sheets at June 30, 2021, and December 31, 2020.

Progress Energy

Progress Energy's Goodwill is included in the Electric Utilities and Infrastructure segment and there are no accumulated impairment charges.

Piedmont

Piedmont's Goodwill is included in the Gas Utilities and Infrastructure segment and there are no accumulated impairment charges.

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Related Party Transactions

6 Months Ended

Jun. 30, 2021

Related Party Transactions [Abstract]

Related Party Transactions

RELATED PARTY TRANSACTIONS

The Subsidiary Registrants engage in related party transactions in accordance with applicable state and federal commission regulations. Refer to the Condensed Consolidated Balance Sheets of the Subsidiary Registrants for balances due to or due from related parties. Material amounts related to transactions with related parties included on the Condensed Consolidated Statements of Operations and Comprehensive Income are presented in the following table.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Duke Energy Carolinas
Corporate governance and shared service expenses(a)	$	243	$	196	$	446	$	330
Indemnification coverages(b)	6		5		12		10
Joint Dispatch Agreement (JDA) revenue(c)	13		3		26		10
JDA expense(c)	25		20		65		44
Intercompany natural gas purchases(d)	15		10		29		16
Progress Energy
Corporate governance and shared service expenses(a)	$	233	$	189	$	414	$	335
Indemnification coverages(b)	11		9		21		18
JDA revenue(c)	25		20		65		44
JDA expense(c)	13		3		26		10
Intercompany natural gas purchases(d)	18		19		37		38
Duke Energy Progress
Corporate governance and shared service expenses(a)	$	141	$	113	$	246	$	188
Indemnification coverages(b)	5		5		10		9
JDA revenue(c)	25		20		65		44
JDA expense(c)	13		3		26		10
Intercompany natural gas purchases(d)	18		19		37		38
Duke Energy Florida
Corporate governance and shared service expenses(a)	$	92	$	76	$	168	$	147
Indemnification coverages(b)	6		4		11		9
Duke Energy Ohio
Corporate governance and shared service expenses(a)	$	79	$	77	$	158	$	161
Indemnification coverages(b)	1		1		2		2
Duke Energy Indiana
Corporate governance and shared service expenses(a)	$	93	$	92	$	206	$	198
Indemnification coverages(b)	2		2		4		4
Piedmont
Corporate governance and shared service expenses(a)	$	36	$	37	$	69	$	71
Indemnification coverages(b)	1		—		2		1
Intercompany natural gas sales(d)	33		29		66		54
Natural gas storage and transportation costs(e)	5		6		11		12

(a)    The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other and Impairment of assets and other charges on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(b)    The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(c)    Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(d)    Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Condensed Consolidated Statements of Operations and Comprehensive Income.

(e)    Piedmont has related party transactions as a customer of its equity method investments in Pine Needle LNG Company, LLC, Hardy Storage Company, LLC and Cardinal Pipeline Company, LLC natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Condensed Consolidated Statements of Operations and Comprehensive Income.

In addition to the amounts presented above, the Subsidiary Registrants have other affiliate transactions, including rental of office space, participation in a money pool arrangement, other operational transactions, such as pipeline lease arrangements, and their proportionate share of certain charged expenses. These transactions of the Subsidiary Registrants are incurred in the ordinary course of business and are eliminated in consolidation.

As discussed in Note 11, certain trade receivables have been sold by Duke Energy Ohio and Duke Energy Indiana to CRC, an affiliate formed by a subsidiary of Duke Energy. The proceeds obtained from the sales of receivables are largely cash but do include a subordinated note from CRC for a portion of the purchase price.

Intercompany Income Taxes

Duke Energy and the Subsidiary Registrants file a consolidated federal income tax return and other state and jurisdictional returns. The Subsidiary Registrants have a tax sharing agreement with Duke Energy for the allocation of consolidated tax liabilities and benefits. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.

	Duke				Duke		Duke		Duke		Duke
	Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
June 30, 2021
Intercompany income tax receivable	$	—	$	74	$	—	$	1	$	—	$	—	$	22
Intercompany income tax payable	36		—		4		—		6		7		—
December 31, 2020
Intercompany income tax receivable	$	—	$	—	$	—	$	—	$	—	$	9	$	10
Intercompany income tax payable	31		33		46		35		2		—		—

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Derivatives and Hedging

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

DERIVATIVES AND HEDGING

The Duke Energy Registrants use commodity and interest rate contracts to manage commodity price risk and interest rate risk. The primary use of commodity derivatives is to hedge the generation portfolio against changes in the prices of electricity and natural gas. Piedmont enters into natural gas supply contracts to provide diversification, reliability and natural gas cost benefits to its customers. Interest rate derivatives are used to manage interest rate risk associated with borrowings.

All derivative instruments not identified as NPNS are recorded at fair value as assets or liabilities on the Condensed Consolidated Balance Sheets. Cash collateral related to derivative instruments executed under master netting arrangements is offset against the collateralized derivatives on the Condensed Consolidated Balance Sheets. The cash impacts of settled derivatives are recorded as operating activities on the Condensed Consolidated Statements of Cash Flows.

INTEREST RATE RISK

The Duke Energy Registrants are exposed to changes in interest rates as a result of their issuance or anticipated issuance of variable-rate and fixed-rate debt and commercial paper. Interest rate risk is managed by limiting variable-rate exposures to a percentage of total debt and by monitoring changes in interest rates. To manage risk associated with changes in interest rates, the Duke Energy Registrants may enter into interest rate swaps, U.S. Treasury lock agreements and other financial contracts. In anticipation of certain fixed-rate debt issuances, a series of forward-starting interest rate swaps or Treasury locks may be executed to lock in components of current market interest rates. These instruments are later terminated prior to or upon the issuance of the corresponding debt.

Cash Flow Hedges

For a derivative designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. Gains and losses reclassified out of accumulated other comprehensive loss for the three and six months ended June 30, 2021, and 2020, were not material. Duke Energy's interest rate derivatives designated as hedges include interest rate swaps used to hedge existing debt within the Commercial Renewables segment and forward-starting interest rate swaps not accounted for under regulatory accounting.

Undesignated Contracts

Undesignated contracts primarily include contracts not designated as a hedge because they are accounted for under regulatory accounting or contracts that do not qualify for hedge accounting.

Duke Energy’s interest rate swaps for its regulated operations employ regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the swaps are deferred as regulatory liabilities or regulatory assets, respectively. Regulatory assets and liabilities are amortized consistent with the treatment of the related costs in the ratemaking process. The accrual of interest on the swaps is recorded as Interest Expense on the Duke Energy Registrant's Condensed Consolidated Statements of Operations and Comprehensive Income.

The following table shows notional amounts of outstanding derivatives related to interest rate risk.

	June 30, 2021
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio
Cash flow hedges	$	1,344	$	—	$	—	$	—	$	—	$	—
Undesignated contracts	1,681		350		1,250		750		500		27
Total notional amount(a)	$	3,025	$	350	$	1,250	$	750	$	500	$	27

	December 31, 2020
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio
Cash flow hedges	$	632	$	—	$	—	$	—	$	—	$	—
Undesignated contracts	1,177		400		750		750		—		27
Total notional amount(a)	$	1,809	$	400	$	750	$	750	$	—	$	27

(a)    Duke Energy includes amounts related to consolidated VIEs of $594 million in cash flow hedges and $54 million in undesignated contracts as of June 30, 2021, and $632 million in cash flow hedges as of December 31, 2020.

COMMODITY PRICE RISK

The Duke Energy Registrants are exposed to the impact of changes in the prices of electricity purchased and sold in bulk power markets and natural gas purchases, including Piedmont's natural gas supply contracts. Exposure to commodity price risk is influenced by a number of factors including the term of contracts, the liquidity of markets and delivery locations. To manage risk associated with commodity prices, the Duke Energy Registrants may enter into long-term power purchase or sales contracts and long-term natural gas supply agreements.

Cash Flow Hedges

For derivatives designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Gains and losses reclassified out of accumulated other comprehensive loss for the three and six months ended June 30, 2021, and 2020, were not material. Duke Energy’s commodity derivatives designated as hedges include long-term electricity sales in the Commercial Renewables segment.

Undesignated Contracts

For the Subsidiary Registrants, bulk power electricity and natural gas purchases flow through fuel adjustment clauses, formula-based contracts or other cost-sharing mechanisms. Differences between the costs included in rates and the incurred costs, including undesignated derivative contracts, are largely deferred as regulatory assets or regulatory liabilities. Piedmont policies allow for the use of financial instruments to hedge commodity price risks. The strategy and objective of these hedging programs are to use the financial instruments to reduce natural gas costs volatility for customers.

Volumes

The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.

	June 30, 2021
		Duke		Duke	Duke	Duke
	Duke	Energy	Progress	Energy	Energy	Energy
	Energy	Carolinas	Energy	Progress	Ohio	Indiana	Piedmont
Electricity (GWh)(a)	34,427	—	—	—	3,727	20,273	—
Natural gas (millions of dekatherms)	744	206	180	180	—	4	354

	December 31, 2020
		Duke		Duke	Duke	Duke
	Duke	Energy	Progress	Energy	Energy	Energy
	Energy	Carolinas	Energy	Progress	Ohio	Indiana	Piedmont
Electricity (GWh)(a)	35,409	—	—	—	2,559	10,802	—
Natural gas (millions of dekatherms)	678	145	158	158	—	2	373

(a)    Duke Energy includes 10,427 GWh and 22,048 GWh related to cash flow hedges as of June 30, 2021, and December 31, 2020, respectively.

LOCATION AND FAIR VALUE OF DERIVATIVE ASSETS AND LIABILITIES RECOGNIZED ON THE CONDENSED CONSOLIDATED BALANCE SHEETS

The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Condensed Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.

Derivative Assets	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current	$	163	$	69	$	65	$	54	$	10	$	3	$	24	$	2
Noncurrent	67		38		29		30		—		—		—		—
Total Derivative Assets – Commodity Contracts	$	230	$	107	$	94	$	84	$	10	$	3	$	24	$	2
Interest Rate Contracts
Not Designated as Hedging Instruments
Current	$	52	$	—	$	48	$	48	$	—	$	—	$	—	$	—
Total Derivative Assets – Interest Rate Contracts	$	52	$	—	$	48	$	48	$	—	$	—	$	—	$	—
Total Derivative Assets	$	282	$	107	$	142	$	132	$	10	$	3	$	24	$	2

Derivative Liabilities	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Designated as Hedging Instruments
Current	$	29	$	—	$	—	$	—	$	—	$	—	$	—	—
Noncurrent	127		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	$	27	$	—	$	—	$	—	$	—	$	—	$	—	$	26
Noncurrent	139		—		4		4		—		—		—		135
Total Derivative Liabilities – Commodity Contracts	$	322	$	—	$	4	$	4	$	—	$	—	$	—	$	161
Interest Rate Contracts
Designated as Hedging Instruments
Current	$	14	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	62		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	21		7		13		—		13		1		—		—
Noncurrent	4		—		—		—		—		4		—		—
Total Derivative Liabilities – Interest Rate Contracts	$	101	$	7	$	13	$	—	$	13	$	5	$	—	$	—
Total Derivative Liabilities	$	423	$	7	$	17	$	4	$	13	$	5	$	—	$	161

Derivative Assets	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current	$	30	$	14	$	9	$	9	$	—	$	1	$	6	$	1
Noncurrent	13		6		6		6		—		—		—		—
Total Derivative Assets – Commodity Contracts	$	43	$	20	$	15	$	15	$	—	$	1	$	6	$	1
Interest Rate Contracts
Not Designated as Hedging Instruments
Current	$	18	$	—	$	18	$	18	$	—	$	—	$	—	$	—
Total Derivative Assets – Interest Rate Contracts	$	18	$	—	$	18	$	18	$	—	$	—	$	—	$	—
Total Derivative Assets	$	61	$	20	$	33	$	33	$	—	$	1	$	6	$	1

Derivative Liabilities	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Designated as Hedging Instruments
Current	$	14	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	70		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	$	30	$	13	$	2	$	2	$	—	$	—	$	1	$	15
Noncurrent	137		3		27		12		—		—		—		107
Total Derivative Liabilities – Commodity Contracts	$	251	$	16	$	29	$	14	$	—	$	—	$	1	$	122
Interest Rate Contracts
Designated as Hedging Instruments
Current	$	15	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	48		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	5		4		—		—		—		1		—		—
Noncurrent	5		—		—		—		—		5		—		—
Total Derivative Liabilities – Interest Rate Contracts	$	73	$	4	$	—	$	—	$	—	$	6	$	—	$	—
Total Derivative Liabilities	$	324	$	20	$	29	$	14	$	—	$	6	$	1	$	122

OFFSETTING ASSETS AND LIABILITIES

The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.

Derivative Assets	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	215	$	69	$	113	$	102	$	10	$	3	$	24	$	2
Gross amounts offset	(3)		(3)		—		—		—		—		—		—
Net amounts presented in Current Assets: Other	$	212	$	66	$	113	$	102	$	10	$	3	$	24	$	2
Noncurrent
Gross amounts recognized	$	67	$	38	$	29	$	30	$	—	$	—	$	—	$	—
Gross amounts offset	(6)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Assets: Other	$	61	$	37	$	25	$	26	$	—	$	—	$	—	$	—

Derivative Liabilities	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	91	$	7	$	13	$	—	$	13	$	1	$	—	$	26
Gross amounts offset	—		—		—		—		—		—		—		—
Net amounts presented in Current Liabilities: Other	$	91	$	7	$	13	$	—	$	13	$	1	$	—	$	26
Noncurrent
Gross amounts recognized	$	332	$	—	$	4	$	4	$	—	$	4	$	—	$	135
Gross amounts offset	(4)		—		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Liabilities: Other	$	328	$	—	$	—	$	—	$	—	$	4	$	—	$	135

Derivative Assets	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	48	$	14	$	27	$	27	$	—	$	1	$	6	$	1
Gross amounts offset	(3)		(2)		(2)		(2)		—		—		—		—
Net amounts presented in Current Assets: Other	$	45	$	12	$	25	$	25	$	—	$	1	$	6	$	1
Noncurrent
Gross amounts recognized	$	13	$	6	$	6	$	6	$	—	$	—	$	—	$	—
Gross amounts offset	(5)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Assets: Other	$	8	$	5	$	2	$	2	$	—	$	—	$	—	$	—

Derivative Liabilities	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	64	$	17	$	2	$	2	$	—	$	1	$	1	$	15
Gross amounts offset	(3)		(2)		(2)		(2)		—		—		—		—
Net amounts presented in Current Liabilities: Other	$	61	$	15	$	—	$	—	$	—	$	1	$	1	$	15
Noncurrent
Gross amounts recognized	$	260	$	3	$	27	$	12	$	—	$	5	$	—	$	107
Gross amounts offset	(5)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Liabilities: Other	$	255	$	2	$	23	$	8	$	—	$	5	$	—	$	107

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Investments in Debt and Equity Securities

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Investments In Debt And Equity Securities

INVESTMENTS IN DEBT AND EQUITY SECURITIES

Duke Energy’s investments in debt and equity securities are primarily comprised of investments held in (i) the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, (ii) the grantor trusts at Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana related to OPEB plans and (iii) Bison. The Duke Energy Registrants classify investments in debt securities as AFS and investments in equity securities as fair value through net income (FV-NI).

For investments in debt securities classified as AFS, the unrealized gains and losses are included in other comprehensive income until realized, at which time they are reported through net income. For investments in equity securities classified as FV-NI, both realized and unrealized gains and losses are reported through net income. Substantially all of Duke Energy’s investments in debt and equity securities qualify for regulatory accounting, and accordingly, all associated realized and unrealized gains and losses on these investments are deferred as a regulatory asset or liability.

Duke Energy classifies the majority of investments in debt and equity securities as long term, unless otherwise noted.

Investment Trusts

The investments within the Investment Trusts are managed by independent investment managers with discretion to buy, sell and invest pursuant to the objectives set forth by the investment manager agreements and trust agreements. The Duke Energy Registrants have limited oversight of the day-to-day management of these investments. As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt securities within the Investment Trusts are recognized immediately and deferred to regulatory accounts where appropriate.

Other AFS Securities

Unrealized gains and losses on all other AFS securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment has a credit loss. The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value is related to a credit loss. If a credit loss exists, the unrealized credit loss is included in earnings. There were no material credit losses as of June 30, 2021, and December 31, 2020.

Other Investments amounts are recorded in Other within Other Noncurrent Assets on the Condensed Consolidated Balance Sheets.

DUKE ENERGY

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	153	$	—	$	—	$	177
Equity securities	4,710		31		6,743		4,138		54		6,235
Corporate debt securities	51		3		861		76		1		806
Municipal bonds	17		—		298		22		—		370
U.S. government bonds	36		8		1,665		51		—		1,361
Other debt securities	6		—		188		8		—		180
Total NDTF Investments	$	4,820	$	42	$	9,908	$	4,295	$	55	$	9,129
Other Investments
Cash and cash equivalents	$	—	$	—	$	83	$	—	$	—	$	127
Equity securities	98		—		166		79		—		146
Corporate debt securities	4		—		118		8		—		110
Municipal bonds	4		1		69		5		—		86
U.S. government bonds	1		—		66		—		—		42
Other debt securities	—		—		31		—		—		47
Total Other Investments	$	107	$	1	$	533	$	92	$	—	$	558
Total Investments	$	4,927	$	43	$	10,441	$	4,387	$	55	$	9,687

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	146	$	302	$	286	$	325
Realized losses	37		67		60		132
AFS:
Realized gains	16		27		34		47
Realized losses	18		13		31		19

DUKE ENERGY CAROLINAS

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	68	$	—	$	—	$	30
Equity securities	2,729		14		3,910		2,442		23		3,685
Corporate debt securities	32		2		495		49		1		510
Municipal bonds	2		—		21		6		—		91
U.S. government bonds	19		3		770		25		—		475
Other debt securities	5		—		182		7		—		174
Total NDTF Investments	$	2,787	$	19	$	5,446	$	2,529	$	24	$	4,965

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	90	$	27	$	218	$	36
Realized losses	23		25		39		70
AFS:
Realized gains	12		18		25		30
Realized losses	13		8		22		13

PROGRESS ENERGY

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	85	$	—	$	—	$	147
Equity securities	1,981		17		2,833		1,696		31		2,550
Corporate debt securities	19		1		366		27		—		296
Municipal bonds	15		—		277		16		—		279
U.S. government bonds	17		5		895		26		—		886
Other debt securities	1		—		6		1		—		6
Total NDTF Investments	$	2,033	$	23	$	4,462	$	1,766	$	31	$	4,164
Other Investments
Cash and cash equivalents	$	—	$	—	$	4	$	—	$	—	$	106
Municipal bonds	3		—		27		3		—		26
Total Other Investments	$	3	$	—	$	31	$	3	$	—	$	132
Total Investments	$	2,036	$	23	$	4,493	$	1,769	$	31	$	4,296

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	56	$	275	$	68	$	289
Realized losses	14		42		21		62
AFS:
Realized gains	3		6		7		11
Realized losses	3		4		6		5

DUKE ENERGY PROGRESS

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	73	$	—	$	—	$	76
Equity securities	1,888		17		2,730		1,617		31		2,459
Corporate debt securities	19		1		299		27		—		296
Municipal bonds	15		—		277		16		—		279
U.S. government bonds	17		2		479		26		—		412
Other debt securities	1		—		6		1		—		6
Total NDTF Investments	$	1,940	$	20	$	3,864	$	1,687	$	31	$	3,528
Other Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Total Other Investments	$	—	$	—	$	1	$	—	$	—	$	1
Total Investments	$	1,940	$	20	$	3,865	$	1,687	$	31	$	3,529

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	55	$	26	$	67	$	40
Realized losses	13		27		20		47
AFS:
Realized gains	3		6		7		11
Realized losses	3		4		6		5

DUKE ENERGY FLORIDA

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	12	$	—	$	—	$	71
Equity securities	93		—		103		79		—		91
Corporate debt securities	—		—		67		—		—		—
U.S. government bonds	—		3		416		—		—		474
Total NDTF Investments(a)	$	93	$	3	$	598	$	79	$	—	$	636
Other Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Municipal bonds	3		—		27		3		—		26
Total Other Investments	$	3	$	—	$	28	$	3	$	—	$	27
Total Investments	$	96	$	3	$	626	$	82	$	—	$	663

(a)During the six months ended June 30, 2021, and the year ended December 31, 2020, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI for the three and six months ended June 30, 2021, and 2020, were as follows:

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	1	$	249	$	1	$	249
Realized losses	1		15		1		15

Realized gains and losses, which were determined on a specific identification basis, from sales of AFS securities for the three and six months ended June 30, 2021, and 2020, were immaterial.

DUKE ENERGY INDIANA

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Equity securities	70		—		110		58		—		97
Corporate debt securities	—		—		4		—		—		3
Municipal bonds	1		1		35		1		—		38
U.S. government bonds	—		—		6		—		—		4
Total Investments	$	71	$	1	$	156	$	59	$	—	$	143

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were immaterial.

DEBT SECURITY MATURITIES

The table below summarizes the maturity date for debt securities.

	June 30, 2021
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Indiana
Due in one year or less	$	162	$	10	$	112	$	16	$	96	$	4
Due after one through five years	1,022		385		578		262		316		18
Due after five through 10 years	683		301		302		243		59		8
Due after 10 years	1,429		772		579		540		39		15
Total	$	3,296	$	1,468	$	1,571	$	1,061	$	510	$	45

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Fair Value Measurements

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Fair value is the exchange price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value definition focuses on an exit price versus the acquisition cost. Fair value measurements use market data or assumptions market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs may be readily observable, corroborated by market data or generally unobservable. Valuation techniques maximize the use of observable inputs and minimize use of unobservable inputs. A midmarket pricing convention (the midpoint price between bid and ask prices) is permitted for use as a practical expedient.

Fair value measurements are classified in three levels based on the fair value hierarchy as defined by GAAP. Certain investments are not categorized within the fair value hierarchy. These investments are measured at fair value using the net asset value (NAV) per share practical expedient. The NAV is derived based on the investment cost, less any impairment, plus or minus changes resulting from observable price changes for an identical or similar investment of the same issuer.

Fair value accounting guidance permits entities to elect to measure certain financial instruments that are not required to be accounted for at fair value, such as equity method investments or the company’s own debt, at fair value. The Duke Energy Registrants have not elected to record any of these items at fair value.

Valuation methods of the primary fair value measurements disclosed below are as follows.

Investments in equity securities

The majority of investments in equity securities are valued using Level 1 measurements. Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the quarter. Principal active markets for equity prices include published exchanges such as the New York Stock Exchange and Nasdaq Stock Market. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. There was no after-hours market activity that was required to be reflected in the reported fair value measurements.

Investments in debt securities

Most investments in debt securities are valued using Level 2 measurements because the valuations use interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. If the market for a particular fixed-income security is relatively inactive or illiquid, the measurement is Level 3.

Commodity derivatives

Commodity derivatives with clearinghouses are classified as Level 1. Commodity derivatives with observable forward curves are classified as Level 2. If forward price curves are not observable for the full term of the contract and the unobservable period had more than an insignificant impact on the valuation, the commodity derivative is classified as Level 3. In isolation, increases (decreases) in natural gas forward prices result in favorable (unfavorable) fair value adjustments for natural gas purchase contracts; and increases (decreases) in electricity forward prices result in unfavorable (favorable) fair value adjustments for electricity sales contracts. Duke Energy regularly evaluates and validates pricing inputs used to estimate the fair value of natural gas commodity contracts by a market participant price verification procedure. This procedure provides a comparison of internal forward commodity curves to market participant generated curves.

Interest rate derivatives

Most over-the-counter interest rate contract derivatives are valued using financial models that utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward interest rate curves, notional amounts, interest rates and credit quality of the counterparties.

Other fair value considerations

See Note 11 in Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2020, for a discussion of the valuation of goodwill and intangible assets.

DUKE ENERGY

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 8. See Note 9 for additional information related to investments by major security type for the Duke Energy Registrants.

	June 30, 2021
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Not Categorized
NDTF cash and cash equivalents	$	153	$	153	$	—	$	—	$	—
NDTF equity securities	6,743		6,695		—		—		48
NDTF debt securities	3,012		1,066		1,946		—		—
Other equity securities	166		166		—		—		—
Other debt securities	284		60		224		—		—
Other cash and cash equivalents	83		83		—		—		—
Derivative assets	282		4		253		25		—
Total assets	10,723		8,227		2,423		25		48
Derivative liabilities	(423)		—		(267)		(156)		—
Net assets (liabilities)	$	10,300	$	8,227	$	2,156	$	(131)	$	48

	December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Not Categorized
NDTF cash and cash equivalents	$	177	$	177	$	—	$	—	$	—
NDTF equity securities	6,235		6,189		—		—		46
NDTF debt securities	2,717		874		1,843		—		—
Other equity securities	146		146		—		—		—
Other debt securities	285		37		248		—		—
Other cash and cash equivalents	127		127		—		—		—
Derivative assets	61		1		53		7		—
Total assets	9,748		7,551		2,144		7		46
Derivative liabilities	(324)		—		(240)		(84)		—
Net assets (liabilities)	$	9,424	$	7,551	$	1,904	$	(77)	$	46

The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.

	Derivatives (net)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	(126)	$	(88)	$	(77)	$	(102)
Total pretax realized or unrealized losses included in comprehensive income	(31)		—		(75)		—
Purchases, sales, issuances and settlements:
Purchases	21		14		21		14
Settlements	(1)		(6)		(8)		(15)
Total gains (losses) included on the Condensed Consolidated Balance Sheet	6		(12)		8		11
Balance at end of period	$	(131)	$	(92)	$	(131)	$	(92)

DUKE ENERGY CAROLINAS

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021
(in millions)	Total Fair Value		Level 1		Level 2		Not Categorized
NDTF cash and cash equivalents	$	68	$	68	$	—	$	—
NDTF equity securities	3,910		3,862		—		48
NDTF debt securities	1,468		408		1,060		—
Derivative assets	107		—		107		—
Total assets	5,553		4,338		1,167		48
Derivative liabilities	(7)		—		(7)		—
Net assets	$	5,546	$	4,338	$	1,160	$	48

	December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Not Categorized
NDTF cash and cash equivalents	$	30	$	30	$	—	$	—
NDTF equity securities	3,685		3,639		—		46
NDTF debt securities	1,250		192		1,058		—
Derivative assets	20		—		20		—
Total assets	4,985		3,861		1,078		46
Derivative liabilities	(20)		—		(20)		—
Net assets	$	4,965	$	3,861	$	1,058	$	46

PROGRESS ENERGY

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	85	$	85	$	—	$	147	$	147	$	—
NDTF equity securities	2,833		2,833		—		2,550		2,550		—
NDTF debt securities	1,544		658		886		1,467		682		785
Other debt securities	27		—		27		26		—		26
Other cash and cash equivalents	4		4		—		106		106		—
Derivative assets	142		—		142		33		—		33
Total assets	4,635		3,580		1,055		4,329		3,485		844
Derivative liabilities	(17)		—		(17)		(29)		—		(29)
Net assets	$	4,618	$	3,580	$	1,038	$	4,300	$	3,485	$	815

DUKE ENERGY PROGRESS

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	73	$	73	$	—	$	76	$	76	$	—
NDTF equity securities	2,730		2,730		—		2,459		2,459		—
NDTF debt securities	1,061		269		792		993		237		756
Other cash and cash equivalents	1		1		—		1		1		—
Derivative assets	132		—		132		33		—		33
Total assets	3,997		3,073		924		3,562		2,773		789
Derivative liabilities	(4)		—		(4)		(14)		—		(14)
Net assets	$	3,993	$	3,073	$	920	$	3,548	$	2,773	$	775

DUKE ENERGY FLORIDA

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	12	$	12	$	—	$	71	$	71	$	—
NDTF equity securities	103		103		—		91		91		—
NDTF debt securities	483		389		94		474		445		29
Other debt securities	27		—		27		26		—		26
Other cash and cash equivalents	1		1		—		1		1		—
Derivative assets	10		—		10		—		—		—
Total assets	636		505		131		663		608		55
Derivative liabilities	(13)		—		(13)		—		—		—
Net assets	$	623	$	505	$	118	$	663	$	608	$	55

DUKE ENERGY OHIO

The recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets were not material at June 30, 2021, and December 31, 2020.

DUKE ENERGY INDIANA

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021								December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3
Other equity securities	$	110	$	110	$	—	$	—	$	97	$	97	$	—	$	—
Other debt securities	45		—		45		—		45		—		45		—
Other cash and cash equivalents	1		1		—		—		1		1		—		—
Derivative assets	24		2		—		22		6		—		—		6
Total assets	180		113		45		22		149		98		45		6
Derivative liabilities	—		—		—		—		(1)		(1)		—		—
Net assets	$	180	$	113	$	45	$	22	$	148	$	97	$	45	$	6

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)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	2	$	2	$	6	$	11
Purchases, sales, issuances and settlements:
Purchases	18		10		18		10
Settlements	(3)		(4)		(9)		(10)
Total gains (losses) included on the Condensed Consolidated Balance Sheet	5		2		7		(1)
Balance at end of period	$	22	$	10	$	22	$	10

PIEDMONT

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
Derivative assets	$	2	$	2	$	—	$	1	$	1	$	—
Derivative liabilities	(161)		—		(161)		(122)		—		(122)
Net (liabilities) assets	$	(159)	$	2	$	(161)	$	(121)	$	1	$	(122)

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)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	—	$	(91)	$	—	$	(117)
Total (losses) gains and settlements	—		(14)		—		12
Balance at end of period	$	—	$	(105)	$	—	$	(105)

QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS

The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.

	June 30, 2021
										Weighted
	Fair Value									Average
Investment Type	(in millions)		Valuation Technique	Unobservable Input	Range					Range
Duke Energy
Electricity contracts	$	(156)	RTO forward pricing	Forward electricity curves – price per MWh	$	16.82	-	$	174.84	$	37.87
Duke Energy Ohio
FTRs	3		RTO auction pricing	FTR price – per MWh	0		-	1.65		0.88
Duke Energy Indiana
FTRs	22		RTO auction pricing	FTR price – per MWh	(2.07)		-	7.38		1.12
Duke Energy
Total Level 3 derivatives	$	(131)

	December 31, 2020
									Weighted
	Fair Value								Average
Investment Type	(in millions)		Valuation Technique	Unobservable Input	Range				Range
Duke Energy
Electricity contracts	$	(84)	Discounted cash flow	Forward electricity curves – price per MWh	$	14.68	-	$151.84	$28.84
Duke Energy Ohio
FTRs	1		RTO auction pricing	FTR price – per MWh	0.25		-	1.68	0.79
Duke Energy Indiana
FTRs	6		RTO auction pricing	FTR price – per MWh	(2.40)		-	7.41	1.05
Duke Energy
Total Level 3 derivatives	$	(77)

OTHER FAIR VALUE DISCLOSURES

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.

	June 30, 2021				December 31, 2020
(in millions)	Book Value		Fair Value		Book Value		Fair Value
Duke Energy(a)	$	62,386	$	69,222	$	59,863	$	69,292
Duke Energy Carolinas	12,906		15,011		12,218		14,917
Progress Energy	19,250		22,502		19,264		23,470
Duke Energy Progress	9,277		10,405		9,258		10,862
Duke Energy Florida	7,881		9,338		7,915		9,756
Duke Energy Ohio	3,091		3,531		3,089		3,650
Duke Energy Indiana	4,092		4,929		4,091		5,204
Piedmont	2,967		3,337		2,780		3,306

(a)    Book value of long-term debt includes $1.3 billion at June 30, 2021, and December 31, 2020, of net unamortized debt discount and premium of purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.

At both June 30, 2021, and December 31, 2020, fair value of cash and cash equivalents, accounts and notes receivable, accounts payable, notes payable and commercial paper and nonrecourse notes payable of VIEs are not materially different from their carrying amounts because of the short-term nature of these instruments and/or because the stated rates approximate market rates.

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Variable Interest Entities

6 Months Ended

Jun. 30, 2021

Variable Interest Entities [Abstract]

Variable Interest Entities

VARIABLE INTEREST ENTITIES

CONSOLIDATED VIEs

The obligations of the consolidated VIEs discussed in the following paragraphs are nonrecourse to the Duke Energy Registrants. The registrants have no requirement to provide liquidity to, purchase assets of or guarantee performance of these VIEs unless noted in the following paragraphs.

No financial support was provided to any of the consolidated VIEs during the six months ended June 30, 2021, and the year ended December 31, 2020, or is expected to be provided in the future that was not previously contractually required.

Receivables Financing – DERF/DEPR/DEFR

DERF, DEPR and DEFR are bankruptcy remote, special purpose subsidiaries of Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, respectively. DERF, DEPR and DEFR are wholly owned LLCs with separate legal existence from their parent companies, and their assets are not generally available to creditors of their parent companies. On a revolving basis, DERF, DEPR and DEFR buy certain accounts receivable arising from the sale of electricity and related services from their parent companies.

DERF, DEPR and DEFR borrow amounts under credit facilities to buy these receivables. Borrowing availability from the credit facilities is limited to the amount of qualified receivables purchased, which generally exclude receivables past due more than a predetermined number of days and reserves for expected past-due balances. The sole source of funds to satisfy the related debt obligations is cash collections from the receivables. Amounts borrowed under the credit facilities for DERF and DEPR are reflected on the Condensed Consolidated Balance Sheets as Long-Term Debt. Amounts borrowed under the credit facilities for DEFR are reflected on the Condensed Consolidated Balance Sheets as Current maturities of long-term debt.

The most significant activity that impacts the economic performance of DERF, DEPR and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are considered the primary beneficiaries and consolidate DERF, DEPR and DEFR, respectively, as they make those decisions.

Receivables Financing – CRC

CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC borrows amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. Borrowing availability from the credit facility is limited to the amount of qualified receivables sold to CRC, which generally exclude receivables past due more than a predetermined number of days and reserves for expected past-due balances. The sole source of funds to satisfy the related debt obligation is cash collections from the receivables. Amounts borrowed under the credit facility are reflected on Duke Energy's Condensed Consolidated Balance Sheets as Long-Term Debt.

The proceeds Duke Energy Ohio and Duke Energy Indiana receive from the sale of receivables to CRC are approximately 75% cash and 25% in the form of a subordinated note from CRC. The subordinated note is a retained interest in the receivables sold. Depending on collection experience, additional equity infusions to CRC may be required by Duke Energy to maintain a minimum equity balance of $3 million.

CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the activities that most significantly impact the economic performance of the entity is not held by the equity holder and (iii) deficiencies in net worth of CRC are funded by Duke Energy. The most significant activities that impact the economic performance of CRC are decisions made to manage delinquent receivables. Duke Energy is considered the primary beneficiary and consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC.

Receivables Financing – Credit Facilities

The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.

	Duke Energy
			Duke Energy		Duke Energy		Duke Energy
			Carolinas		Progress		Florida
(in millions)	CRC		DERF		DEPR		DEFR
Expiration date	February 2023		December 2022		April 2023		April 2023
Credit facility amount	$	350	$	475	$	350	$	250
Amounts borrowed at June 30, 2021	332		475		269		250
Amounts borrowed at December 31, 2020	350		364		250		250
Restricted Receivables at June 30, 2021	527		769		473		445
Restricted Receivables at December 31, 2020	547		696		500		397

Nuclear Asset-Recovery Bonds – DEFPF

DEFPF is a bankruptcy remote, wholly owned special purpose subsidiary of Duke Energy Florida. DEFPF was formed in 2016 for the sole purpose of issuing nuclear asset-recovery bonds to finance Duke Energy Florida's unrecovered regulatory asset related to Crystal River Unit 3.

In 2016, DEFPF issued senior secured bonds and used the proceeds to acquire nuclear asset-recovery property from Duke Energy Florida. The nuclear asset-recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable nuclear asset-recovery charge from all Duke Energy Florida retail customers until the bonds are paid in full and all financing costs have been recovered. The nuclear asset-recovery bonds are secured by the nuclear asset-recovery property and cash collections from the nuclear asset-recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Florida.

DEFPF is considered a VIE primarily because the equity capitalization is insufficient to support its operations. Duke Energy Florida has the power to direct the significant activities of the VIE as described above and therefore Duke Energy Florida is considered the primary beneficiary and consolidates DEFPF.

The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.

(in millions)	June 30, 2021		December 31, 2020
Receivables of VIEs	$	6	$	4
Regulatory Assets: Current	54		53
Current Assets: Other	33		39
Other Noncurrent Assets: Regulatory assets	914		937
Current Liabilities: Other	9		10
Current maturities of long-term debt	55		55
Long-Term Debt	973		1,002

Commercial Renewables

Certain of Duke Energy’s renewable energy facilities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. Assets are restricted and cannot be pledged as collateral or sold to third parties without prior approval of debt holders. Additionally, Duke Energy has VIEs associated with tax equity arrangements entered into with third-party investors in order to finance the cost of renewable assets eligible for tax credits. The activities that most significantly impacted the economic performance of these renewable energy facilities were decisions associated with siting, negotiating PPAs and Engineering, Procurement and Construction agreements, and decisions associated with ongoing operations and maintenance-related activities. Duke Energy is considered the primary beneficiary and consolidates the entities as it is responsible for all of these decisions.

The table below presents material balances reported on Duke Energy's Condensed Consolidated Balance Sheets related to Commercial Renewables VIEs.

(in millions)	June 30, 2021		December 31, 2020
Current Assets: Other	$	323	$	257
Property, Plant and Equipment: Cost	6,876		6,394
Accumulated depreciation and amortization	(1,354)		(1,242)
Other Noncurrent Assets: Other	73		67
Current maturities of long-term debt	164		167
Long-Term Debt	1,497		1,569
Other Noncurrent Liabilities: AROs	155		148
Other Noncurrent Liabilities: Other	352		316

NON-CONSOLIDATED VIEs

The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.

	June 30, 2021
	Duke Energy						Duke		Duke
	Pipeline		Commercial				Energy		Energy
(in millions)	Investments		Renewables		Total		Ohio		Indiana
Receivables from affiliated companies	$	—	$	—	$	—	$	54	$	85
Other current assets	17		—		17		—		$	—
Investments in equity method unconsolidated affiliates	15		475		490		—		—
Deferred tax asset	19		—		19		—		—
Total assets	$	51	$	475	$	526	$	54	$	85
Other current liabilities	33		4		37		—		—
Other noncurrent liabilities	69		10		79		—		—
Total liabilities	$	102	$	14	$	116	$	—	$	—
Net (liabilities) assets	$	(51)	$	461	$	410	$	54	$	85

	December 31, 2020
	Duke Energy						Duke		Duke
	Pipeline		Commercial				Energy		Energy
(in millions)	Investments		Renewables		Total		Ohio		Indiana
Receivables from affiliated companies	$	—	$	—	$	—	$	83	$	110
Investments in equity method unconsolidated affiliates	—		530		530		—		—
Other noncurrent assets	31		—		31		—		—
Total assets	$	31	$	530	$	561	$	83	$	110
Other current liabilities	928		5		933		—		—
Other noncurrent liabilities	8		10		18		—		—
Total liabilities	$	936	$	15	$	951	$	—	$	—
Net assets (liabilities)	$	(905)	$	515	$	(390)	$	83	$	110

The Duke Energy Registrants are not aware of any situations where the maximum exposure to loss significantly exceeds the carrying values shown above except for certain renewable energy project entities guarantees for debt services and operations and maintenance, as discussed below.

Pipeline Investments

Duke Energy has investments in various joint ventures to construct and operate pipeline projects. These entities are considered VIEs due to having insufficient equity to finance their own activities without subordinated financial support. Duke Energy does not have the power to direct the activities that most significantly impact the economic performance, the obligation to absorb losses or the right to receive benefits of these VIEs and therefore does not consolidate these entities.

Duke Energy has a 47% ownership interest in ACP. For the three and six months ended June 30, 2020, the ACP investment was considered a significant subsidiary because its income exceeded 20% of Duke Energy’s income. ACP's net loss for the three and six months ended June 30, 2020, was $4,414 million and $4,342 million, respectively.

In 2020, Duke Energy determined that it would no longer invest in the construction of the ACP pipeline. In February 2021, Duke Energy paid approximately $855 million to fund ACP's outstanding debt, relieving Duke Energy of its guarantee. See Notes 1 and 3 for further information regarding this transaction.

Commercial Renewables

Duke Energy has investments in various renewable energy project entities. Some of these entities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. Duke Energy does not consolidate these VIEs because power to direct and control key activities is shared jointly by Duke Energy and other owners.

OVEC

Duke Energy Ohio’s 9% ownership interest in OVEC is considered a non-consolidated VIE due to OVEC having insufficient equity to finance its activities without subordinated financial support. The activities that most significantly impact OVEC's economic performance include fuel strategy and supply activities and decisions associated with ongoing operations and maintenance-related activities. Duke Energy Ohio does not have the unilateral power to direct these activities, and therefore, does not consolidate OVEC.

As a counterparty to an Inter-Company Power Agreement (ICPA), Duke Energy Ohio has a contractual arrangement to receive entitlements to capacity and energy from OVEC’s power plants through June 2040 commensurate with its power participation ratio, which is equivalent to Duke Energy Ohio's ownership interest. Costs, including fuel, operating expenses, fixed costs, debt amortization and interest expense, are allocated to counterparties to the ICPA based on their power participation ratio. The value of the ICPA is subject to variability due to fluctuation in power prices and changes in OVEC's cost of business. Duke Energy cannot predict the outcome in this matter. See Note 3 for additional information.

CRC

See discussion under Consolidated VIEs for additional information related to CRC.

Amounts included in Receivables from affiliated companies in the above table for Duke Energy Ohio and Duke Energy Indiana reflect their retained interest in receivables sold to CRC. These subordinated notes held by Duke Energy Ohio and Duke Energy Indiana are stated at fair value.

The following table shows the gross and net receivables sold.

	Duke Energy Ohio				Duke Energy Indiana
(in millions)	June 30, 2021		December 31, 2020		June 30, 2021		December 31, 2020
Receivables sold	$	219	$	270	$	322	$	344
Less: Retained interests	54		83		85		110
Net receivables sold	$	165	$	187	$	237	$	234

The following table shows sales and cash flows related to receivables sold.

	Duke Energy Ohio								Duke Energy Indiana
	Three Months Ended				Six Months Ended				Three Months Ended				Six Months Ended
	June 30,				June 30,				June 30,				June 30,
(in millions)	2021		2020		2021		2020		2021		2020		2021		2020
Sales
Receivables sold	$	443	$	429	$	1,004	$	966	$	684	$	583	$	1,382	$	1,230
Loss recognized on sale	2		2		5		6		3		2		6		6
Cash flows
Cash proceeds from receivables sold	$	433	$	431	$	1,029	$	990	$	655	$	580	$	1,401	$	1,252
Return received on retained interests	1		—		2		2		1		1		3		3

Cash flows from sales of receivables are reflected within Cash Flows From Operating Activities and Cash Flows from Investing Activities on Duke Energy Ohio’s and Duke Energy Indiana’s Condensed Consolidated Statements of Cash Flows.

XML

Revenue

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Duke Energy earns substantially all of its revenues through its reportable segments, Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables.

Electric Utilities and Infrastructure

Electric Utilities and Infrastructure earns the majority of its revenues through retail and wholesale electric service through the generation, transmission, distribution and sale of electricity. Duke Energy generally provides retail and wholesale electric service customers with their full electric load requirements or with supplemental load requirements when the customer has other sources of electricity.

The majority of wholesale revenues are full requirements contracts where the customers purchase the substantial majority of their energy needs and do not have a fixed quantity of contractually required energy or capacity. As such, related forecasted revenues are considered optional purchases. 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)	2021		2022		2023		2024		2025		Thereafter		Total
Progress Energy	$	49	$	107	$	44	$	45	$	7	$	51	$	303
Duke Energy Progress	4		8		8		8		—		—		28
Duke Energy Florida	45		99		36		37		7		51		275
Duke Energy Indiana	—		—		7		12		12		24		55

Revenues for block sales are recognized monthly as energy is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates.

Gas Utilities and Infrastructure

Gas Utilities and Infrastructure earns its revenue through retail and wholesale natural gas service through the transportation, distribution and sale of natural gas. Duke Energy generally provides retail and wholesale natural gas service customers with all natural gas load requirements. Additionally, while natural gas can be stored, substantially all natural gas provided by Duke Energy is consumed by customers simultaneously with receipt of delivery.

Fixed-capacity payments under long-term contracts for the Gas Utilities and Infrastructure segment include minimum margin contracts and supply arrangements with municipalities and power generation facilities. Revenues for related sales are recognized monthly as natural gas is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates. Estimated remaining performance obligations are as follows:

	Remaining Performance Obligations
(in millions)	2021		2022		2023		2024		2025		Thereafter		Total
Piedmont	$	34	$	67	$	64	$	61	$	60	$	336	$	622

Commercial Renewables

Commercial Renewables earns the majority of its revenues through long-term PPAs and generally sells all of its wind and solar facility output, electricity and Renewable Energy Certificates (RECs) to customers. The majority of these PPAs have historically been accounted for as leases. For PPAs that are not accounted for as leases, the delivery of electricity and the delivery of RECs are considered separate performance obligations.

Other

The remainder of Duke Energy’s operations is presented as Other, which does not include material revenues from contracts with customers.

Disaggregated Revenues

Disaggregated revenues are presented as follows:

	Three Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,336	$	683	$	1,216	$	478	$	738	$	171	$	265	$	—
General	1,513		498		720		330		390		106		190		—
Industrial	705		256		229		160		69		33		189		—
Wholesale	521		116		331		285		46		13		63		—
Other revenues	234		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
Commercial	91		—		—		—		—		27		—		59
Industrial	30		—		—		—		—		4		—		27
Power Generation	—		—		—		—		—		—		—		24
Other revenues	20		—		—		—		—		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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,249	$	677	$	1,173	$	460	$	713	$	169	$	231	$	—
General	1,379		507		611		298		313		103		161		—
Industrial	658		260		212		154		58		33		152		—
Wholesale	435		101		285		240		45		5		44		—
Other revenues	284		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
Commercial	75		—		—		—		—		23		—		52
Industrial	27		—		—		—		—		3		—		22
Power Generation	—		—		—		—		—		—		—		6
Other revenues	12		—		—		—		—		3		—		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	$	7	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total revenue from contracts with customers	$	5,338	$	1,607	$	2,472	$	1,222	$	1,250	$	420	$	613	$	187
Other revenue sources(a)	$	83	$	3	$	26	$	21	$	—	$	3	$	4	$	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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	4,798	$	1,476	$	2,378	$	1,038	$	1,340	$	366	$	578	$	—
General	2,932		1,000		1,344		636		708		210		379		—
Industrial	1,367		512		436		305		131		64		356		—
Wholesale	1,025		230		657		577		80		26		113		—
Other revenues	460		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
Commercial	295		—		—		—		—		75		—		215
Industrial	80		—		—		—		—		11		—		70
Power Generation	—		—		—		—		—		—		—		46
Other revenues	67		—		—		—		—		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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	4,515	$	1,433	$	2,242	$	962	$	1,280	$	345	$	496	$	—
General	2,887		1,056		1,275		617		658		217		342		—
Industrial	1,351		529		428		308		120		68		327		—
Wholesale	932		215		606		519		87		12		99		—
Other revenues	475		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
Commercial	244		—		—		—		—		66		—		178
Industrial	68		—		—		—		—		9		—		58
Power Generation	—		—		—		—		—		—		—		17
Other revenues	42		—		—		—		—		9		—		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	$	3	$	60	$	42	$	9	$	(3)	$	4	$	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.

As described in Note 1, Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. 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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at March 31, 2020	$	89	$	11	$	20	$	9	$	11	$	5	$	3	$	9
Write-Offs	(9)		(3)		(3)		(3)		—		—		—		(4)
Credit Loss Expense	15		6		12		8		3		—		—		1
Other Adjustments	7		—		—		—		—		—		—		—
Balance at June 30, 2020	$	102	$	14	$	29	$	14	$	14	$	5	$	3	$	6
Balance at March 31, 2021	$	147	$	34	$	37	$	23	$	15	$	4	$	3	$	14
Write-Offs	(5)		1		(4)		(3)		(1)		—		—		(2)
Credit Loss Expense	12		6		6		4		2		—		—		1
Other Adjustments	(31)		1		(3)		(3)		—		—		—		—
Balance at June 30, 2021	$	123	$	42	$	36	$	21	$	16	$	4	$	3	$	13
	Six Months Ended June 30, 2020 and 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at December 31, 2019	$	76	$	10	$	16	$	8	$	7	$	4	$	3	$	6
Cumulative Change in Accounting Principle	5		1		2		1		1		—		—		1
Write-Offs	(19)		(6)		(7)		(5)		(2)		—		—		(5)
Credit Loss Expense	33		9		18		10		8		1		—		4
Other Adjustments	7		—		—		—		—		—		—		—
Balance at June 30, 2020	$	102	$	14	$	29	$	14	$	14	$	5	$	3	$	6
Balance at December 31, 2020	$	146	$	23	$	37	$	23	$	14	$	4	$	3	$	12
Write-Offs	(26)		(7)		(14)		(8)		(6)		—		—		(3)
Credit Loss Expense	29		16		13		6		7		—		—		4
Other Adjustments	(26)		10		—		—		1		—		—		—
Balance at June 30, 2021	$	123	$	42	$	36	$	21	$	16	$	4	$	3	$	13

Trade and other receivables are evaluated based on an estimate of the risk of loss over the life of the receivable and current and historical conditions using supportable assumptions. Management evaluates the risk of loss for trade and other receivables by comparing the historical write-off amounts to total revenue over a specified period. Historical loss rates are adjusted due to the impact of current conditions, as well as forecasted conditions over a reasonable time period. The calculated write-off rate can be applied to the receivable balance for which an established reserve does not already exist. Management reviews the assumptions and risk of loss periodically for trade and other 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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	894	$	324	$	283	$	156	$	127	$	4	$	30	$	5
0-30 days	1,836		465		781		408		372		55		29		82
30-60 days	148		62		42		22		20		4		2		8
60-90 days	47		20		10		6		4		3		1		5
90+ days	180		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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	969	$	328	$	283	$	167	$	116	$	2	$	16	$	86
0-30 days	1,789		445		707		398		307		60		26		149
30-60 days	185		80		54		25		29		8		3		8
60-90 days	22		1		10		4		6		2		1		3
90+ days	119		16		32		9		23		30		12		9
Deferred Payment Arrangements(c)	215		96		80		52		28		—		—		7
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.

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Stockholders' Equity

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the diluted weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as equity forward sale agreements, were exercised or settled. Duke Energy’s participating securities are restricted stock units that are entitled to dividends declared on Duke Energy common stock during the restricted stock unit’s vesting periods. Dividends declared on preferred stock are recorded on the Condensed Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are an adjustment to net income used in the calculation of basic and diluted EPS.

The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share amounts)	2021		2020		2021		2020
Net income (loss) available to Duke Energy common stockholders	$	751	$	(817)	$	1,704	$	82
Accumulated preferred stock dividends adjustment	(12)		(12)		—		—
Less: Impact of participating securities	1		—		1		—
Income (loss) from continuing operations available to Duke Energy common stockholders	$	738	$	(829)	$	1,703	$	82
Weighted average common shares outstanding – basic	769		735		769		734
Equity forwards	—		—		—		1
Weighted average common shares outstanding – diluted	769		735		769		735
Earnings (Loss) Per Share available to Duke Energy common stockholders
Basic and diluted	$	0.96	$	(1.13)	$	2.21	$	0.11
Potentially dilutive items excluded from the calculation(a)	2		2		2		2
Dividends declared per common share	$	0.965	$	0.945	$	1.930	$	1.890
Dividends declared on Series A preferred stock per depositary share(b)	$	0.359	$	0.359	$	0.719	$	0.719
Dividends declared on Series B preferred stock per share(c)	$	—	$	—	$	24.375	$	24.917

(a)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.

(b)    5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share.

(c)    4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share.

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Employee Benefit Plans

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

DEFINED BENEFIT RETIREMENT PLANS

Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified and non-qualified, non-contributory defined benefit retirement plans. Duke Energy's policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants.

QUALIFIED PENSION PLANS

The following tables include the components of net periodic pension costs for qualified pension plans.

	Three Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	44	$	14	$	12	$	8	$	6	$	1	$	3	$	2
Interest cost on projected benefit obligation	55		12		18		8		9		4		4		2
Expected return on plan assets	(140)		(35)		(47)		(21)		(25)		(7)		(10)		(5)
Amortization of actuarial loss	34		8		9		4		5		1		4		3
Amortization of prior service credit	(8)		(2)		—		(1)		—		—		(1)		(4)
Amortization of settlement charges	2		2		—		1		—		—		—		—
Net periodic pension costs	$	(13)	$	(1)	$	(8)	$	(1)	$	(5)	$	(1)	$	—	$	(2)

	Three Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	42	$	14	$	12	$	8	$	6	$	1	$	2	$	2
Interest cost on projected benefit obligation	68		15		22		9		11		4		5		3
Expected return on plan assets	(143)		(36)		(47)		(22)		(26)		(7)		(10)		(6)
Amortization of actuarial loss	30		7		9		4		5		1		3		3
Amortization of prior service credit	(8)		(2)		(1)		(1)		(1)		—		(1)		(3)
Amortization of settlement charges	3		1		—		1		—		—		—		—
Net periodic pension costs	$	(8)	$	(1)	$	(5)	$	(1)	$	(5)	$	(1)	$	(1)	$	(1)

	Six Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	88	$	28	$	25	$	15	$	11	$	2	$	5	$	3
Interest cost on projected benefit obligation	110		25		35		15		19		7		9		4
Expected return on plan assets	(279)		(70)		(94)		(42)		(51)		(14)		(20)		(10)
Amortization of actuarial loss	67		15		19		9		10		3		7		5
Amortization of prior service credit	(15)		(4)		(1)		(1)		—		—		(1)		(5)
Amortization of settlement charges	4		3		1		1		—		—		—		—
Net periodic pension costs	$	(25)	$	(3)	$	(15)	$	(3)	$	(11)	$	(2)	$	—	$	(3)

	Six Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	83	$	26	$	24	$	14	$	11	$	2	$	4	$	3
Interest cost on projected benefit obligation	135		31		43		19		23		8		11		5
Expected return on plan assets	(286)		(72)		(95)		(44)		(51)		(14)		(21)		(11)
Amortization of actuarial loss	64		14		20		9		11		3		6		5
Amortization of prior service credit	(16)		(4)		(2)		(1)		(1)		—		(1)		(5)
Amortization of settlement charges	5		2		1		1		—		—		—		—
Net periodic pension costs	$	(15)	$	(3)	$	(9)	$	(2)	$	(7)	$	(1)	$	(1)	$	(3)

NON-QUALIFIED PENSION PLANS

Net periodic pension costs for non-qualified pension plans were not material for the three and six months ended June 30, 2021, and 2020.

OTHER POST-RETIREMENT BENEFIT PLANS

Net periodic costs for OPEB plans were not material for the three and six months ended June 30, 2021, and 2020.

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Income Taxes

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

EFFECTIVE TAX RATES

The ETRs from continuing operations for each of the Duke Energy Registrants are included in the following table.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Duke Energy	4.9	%	26.2	%	6.8	%	98.9	%
Duke Energy Carolinas	0.4	%	13.7	%	4.3	%	15.1	%
Progress Energy	8.3	%	14.9	%	10.2	%	16.1	%
Duke Energy Progress	2.7	%	13.9	%	5.6	%	15.7	%
Duke Energy Florida	19.0	%	19.1	%	19.1	%	19.4	%
Duke Energy Ohio	22.0	%	15.4	%	16.1	%	16.6	%
Duke Energy Indiana	15.6	%	17.3	%	16.7	%	19.3	%
Piedmont	33.3	%	128.6	%	10.8	%	5.8	%

The decrease in the ETR for Duke Energy for the three and six months ended June 30, 2021, was primarily due to the cancellation of the ACP pipeline project recorded in the prior year and an increase in the amortization of excess deferred taxes.

The decrease in the ETR for Duke Energy Carolinas for the three and six months ended June 30, 2021, was primarily due to an increase in the amortization of excess deferred taxes.

The decrease in the ETR for Progress Energy for the three and six months ended June 30, 2021, was primarily due to an increase in the amortization of excess deferred taxes.

The decrease in the ETR for Duke Energy Progress for the three and six months ended June 30, 2021, was primarily due to an increase in the amortization of excess deferred taxes.

The increase in the ETR for Duke Energy Ohio for the three months ended June 30, 2021, was primarily due to a decrease in the amortization of excess deferred taxes.

The decrease in the ETR for Duke Energy Indiana for the three and six months ended June 30, 2021, was primarily due to an increase in the amortization of excess deferred taxes.

The decrease in the ETR for Piedmont for the three months ended June 30, 2021, was primarily due to a decrease in AFUDC equity, in relation to pretax losses.

The increase in the ETR for Piedmont for the six months ended June 30, 2021, was primarily due to a decrease in AFUDC equity.

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Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSFor information on subsequent events related to organization and basis of presentation, regulatory matters, commitments and contingencies and debt and credit facilities, see Notes 1, 3, 4 and 5.

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Organization and Basis of Presentation (Policy)

6 Months Ended

Jun. 30, 2021

Policy Text Block [Line Items]

Basis of Presentation

BASIS OF PRESENTATION

These Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these Condensed Consolidated Financial Statements do not include all information and notes required by GAAP for annual financial statements and should be read in conjunction with the Consolidated Financial Statements in the Duke Energy Registrants’ combined Annual Report on Form 10-K for the year ended December 31, 2020.

The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Condensed Consolidated Financial Statements. However, none of the registrants make any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself.

These Condensed Consolidated Financial Statements, in the opinion of the respective companies’ management, reflect all normal recurring adjustments necessary to fairly present the financial position and results of operations of each of the Duke Energy Registrants. Amounts reported in Duke Energy’s interim Condensed Consolidated Statements of Operations and each of the Subsidiary Registrants’ interim Condensed Consolidated Statements of Operations and Comprehensive Income are not necessarily indicative of amounts expected for the respective annual periods due to effects of seasonal temperature variations on energy consumption, regulatory rulings, timing of maintenance on electric generating units, changes in mark-to-market valuations, changing commodity prices and other factors.

In preparing financial statements that conform to GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

Basis of Consolidation and Noncontrolling Interest

BASIS OF CONSOLIDATION

These Condensed Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 11 for additional information on VIEs. These Condensed Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities.

NONCONTROLLING INTEREST

Duke Energy maintains a controlling financial interest in certain less than wholly owned nonregulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Condensed Consolidated Balance Sheet.

Several operating agreements of Duke Energy's subsidiaries with noncontrolling interest are subject to allocations of earnings, tax attributes and cash flows in accordance with contractual agreements that vary throughout the lives of the subsidiaries. Therefore, Duke Energy and the other investors' (the owners) interests in the subsidiaries are not fixed, and the subsidiaries apply the Hypothetical Liquidation at Book Value (HLBV) method in allocating income or loss and other comprehensive income or loss (all measured on a pretax basis) to the owners. The HLBV method measures the amounts that each owner would hypothetically claim at each balance sheet reporting date, including tax benefits realized by the owners over the IRS recapture period, upon a hypothetical liquidation of the subsidiary at the net book value of its underlying assets. The change in the amount that each owner would hypothetically receive at the reporting date compared to the amount it would have received on the previous reporting date represents the amount of income or loss allocated to each owner for the reporting period.

Other operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares.

Cash, Cash Equivalents, and Restricted Cash

CASH, CASH EQUIVALENTS AND RESTRICTED CASHDuke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Notes 9 and 11 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets.

New Accounting Standards

NEW ACCOUNTING STANDARDS

The following new accounting standard was adopted by the Duke Energy Registrants in 2021.

Leases with Variable Lease Payments. In July 2021, the Financial Accounting Standards Board (FASB) issued new accounting guidance requiring lessors to classify a lease with variable lease payments that do not depend on a reference index or rate as an operating lease if both of the following are met: (1) the lease would have to be classified as a sales-type or direct financing lease under prior guidance, and (2) the lessor would have recognized a day-one loss. Duke Energy elected to adopt the guidance immediately upon issuance of the new standard and will be applying the new standard prospectively to new lease arrangements meeting the criteria. Duke Energy does not currently have any lease arrangements that this new accounting guidance will materially impact.

The following accounting standard was adopted by the Duke Energy Registrants in 2020.

Current Expected Credit Losses. In June 2016, the FASB issued new accounting guidance for credit losses. Duke Energy adopted the new accounting guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year results. Duke Energy did not adopt any practical expedients.

Duke Energy recognizes allowances for credit losses based on management's estimate of losses expected to be incurred over the lives of certain assets or guarantees. Management monitors credit quality, changes in expected credit losses and the appropriateness of the allowance for credit losses on a forward-looking basis. Management reviews the risk of loss periodically as part of the existing assessment of collectability of receivables.

Duke Energy reviews the credit quality of its counterparties as part of its regular risk management process and requires credit enhancements, such as deposits or letters of credit, as appropriate and as allowed by regulators.

Duke Energy recorded cumulative effects of changes in accounting principles related to the adoption of the new credit loss standard for allowances for credit losses of trade and other receivables, insurance receivables and financial guarantees. These amounts are included in the Condensed Consolidated Balance Sheets in Receivables, Receivables of VIEs, Other Noncurrent Assets and Other Noncurrent Liabilities. See Notes 4 and 12 for more information.

Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below:

	January 1, 2020
			Duke				Duke		Duke
	Duke		Energy		Progress		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Piedmont
Total pretax impact to Retained Earnings	$	120	$	16	$	2	$	1	$	1	$	1

The following new accounting standard has been issued but not yet adopted by the Duke Energy Registrants as of June 30, 2021.

Reference Rate Reform. In March 2020, the FASB issued new accounting guidance for reference rate reform. This guidance is elective and provides expedients to facilitate financial reporting for the anticipated transition away from the London Inter-bank Offered Rate (LIBOR) and other interbank reference rates by the end of 2022. The optional expedients are effective for modification of existing contracts or new arrangements executed between March 12, 2020, through December 31, 2022.

Duke Energy has variable-rate debt and manages interest rate risk by entering into financial contracts including interest rate swaps that are generally indexed to LIBOR. Impacted financial arrangements extending beyond 2022 may require contractual amendment or termination to fully adapt to a post-LIBOR environment. Duke Energy is assessing these financial arrangements and is evaluating the use of optional expedients outlined in the new accounting guidance. Alternative index provisions are also being assessed and incorporated into new financial arrangements that extend beyond 2022. The full outcome of the transition away from LIBOR cannot be determined at this time, but is not expected to have a material impact on the financial statements.

Environmental Costs

Liabilities are recorded when losses become probable and are reasonably estimable.Costs are typically expensed as Operation, maintenance and other on the Condensed Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable.

Derivatives

Duke Energy’s interest rate swaps for its regulated operations employ regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the swaps are deferred as regulatory liabilities or regulatory assets, respectively. Regulatory assets and liabilities are amortized consistent with the treatment of the related costs in the ratemaking process. The accrual of interest on the swaps is recorded as Interest Expense on the Duke Energy Registrant's Condensed Consolidated Statements of Operations and Comprehensive Income.

Cash Flow Hedges

For derivatives designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Gains and losses reclassified out of accumulated other comprehensive loss for the three and six months ended June 30, 2021, and 2020, were not material. Duke Energy’s commodity derivatives designated as hedges include long-term electricity sales in the Commercial Renewables segment.

Undesignated Contracts

For the Subsidiary Registrants, bulk power electricity and natural gas purchases flow through fuel adjustment clauses, formula-based contracts or other cost-sharing mechanisms. Differences between the costs included in rates and the incurred costs, including undesignated derivative contracts, are largely deferred as regulatory assets or regulatory liabilities. Piedmont policies allow for the use of financial instruments to hedge commodity price risks. The strategy and objective of these hedging programs are to use the financial instruments to reduce natural gas costs volatility for customers.

Investments

As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt securities within the Investment Trusts are recognized immediately and deferred to regulatory accounts where appropriate.Unrealized gains and losses on all other AFS securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment has a credit loss. The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value is related to a credit loss. If a credit loss exists, the unrealized credit loss is included in earnings.

Revenue from Contract with Customer

Duke Energy earns substantially all of its revenues through its reportable segments, Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables.

Earnings Per Share

Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the diluted weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as equity forward sale agreements, were exercised or settled. Duke Energy’s participating securities are restricted stock units that are entitled to dividends declared on Duke Energy common stock during the restricted stock unit’s vesting periods. Dividends declared on preferred stock are recorded on the Condensed Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are an adjustment to net income used in the calculation of basic and diluted EPS.

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Organization and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash Received and Allocated Losses from Subsidiaries, Noncontrolling Interest

The following table presents cash received for the sale of noncontrolling interest and allocated losses to noncontrolling interest for the three and six months ended June 30, 2021, and 2020.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Noncontrolling Interest Capital Contributions
Cash received for the sale of noncontrolling interest to tax equity members	$	15	$	60	$	318	$	163
Noncontrolling Interest Allocation of Income
Allocated losses to noncontrolling tax equity members utilizing the HLBV method	55		79		98		128
Allocated losses to noncontrolling members based on pro rata shares of ownership	12		11		20		10
Total Noncontrolling Interest Allocated Losses	$	67	$	90	$	118	$	138

Schedule of Cash, Cash Equivalents and Restricted Cash

The following table presents the components of cash, cash equivalents and restricted cash included in the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
					Duke						Duke
	Duke		Progress		Energy		Duke		Progress		Energy
	Energy		Energy		Florida		Energy		Energy		Florida
Current Assets
Cash and cash equivalents	$	367	$	75	$	22	$	259	$	59	$	11
Other	197		33		33		194		39		39
Other Noncurrent Assets
Other	1		—		—		103		102		—
Total cash, cash equivalents and restricted cash	$	565	$	108	$	55	$	556	$	200	$	50

Schedule of Utility Inventory

The components of inventory are presented in the tables below.

	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Materials and supplies	$	2,368	$	820	$	1,014	$	680	$	334	$	82	$	305	$	11
Coal	397		158		123		78		44		10		106		—
Natural gas, oil and other fuel	250		35		162		100		62		19		1		32
Total inventory	$	3,015	$	1,013	$	1,299	$	858	$	440	$	111	$	412	$	43

	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Materials and supplies	$	2,312	$	785	$	999	$	673	$	325	$	78	$	307	$	12
Coal	561		186		193		131		63		16		165		—
Natural gas, oil and other fuel	294		39		183		107		76		16		1		56
Total inventory	$	3,167	$	1,010	$	1,375	$	911	$	464	$	110	$	473	$	68

Schedule of New Accounting Pronouncements

Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below:

	January 1, 2020
			Duke				Duke		Duke
	Duke		Energy		Progress		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Piedmont
Total pretax impact to Retained Earnings	$	120	$	16	$	2	$	1	$	1	$	1

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Business Segments (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting Information [Line Items]

Business Segment Data

Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.

	Three Months Ended June 30, 2021
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	5,328	$	305	$	119	$	5,752	$	6	$	—	$	5,758
Intersegment revenues	7		22		—		29		21		(50)		—
Total revenues	$	5,335	$	327	$	119	$	5,781	$	27	$	(50)	$	5,758
Segment income (loss)(a)	$	935	$	17	$	47	$	999	$	(248)	$	—	$	751
Less: Noncontrolling interests													67
Add: Preferred stock dividend													14
Net Income													$	698
Segment assets	$	140,591	$	14,321	$	6,956	$	161,868	$	3,524	$	(7)	$	165,385

	Three Months Ended June 30, 2020
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	5,026	$	265	$	123	$	5,414	$	7	$	—	$	5,421
Intersegment revenues	8		24		—		32		19		(51)		—
Total revenues	$	5,034	$	289	$	123	$	5,446	$	26	$	(51)	$	5,421
Segment income (loss)(b)	$	753	$	(1,576)	$	90	$	(733)	$	(84)	$	—	$	(817)
Less: Noncontrolling interests													90
Add: Preferred stock dividend													15
Net Income													$	(892)

(a)    Gas Utilities and Infrastructure includes $16 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Other includes $131 million recorded within Impairment of assets and other charges, $27 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Condensed Consolidated Statements of Operations, related to the workplace and workforce realignment. See Note 1 for additional information.

(b)    Gas Utilities and Infrastructure includes $2 billion recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information.

	Six Months Ended June 30, 2021
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	10,601	$	1,057	$	238	$	11,896	$	12	$	—	$	11,908
Intersegment revenues	15		45		—		60		41		(101)		—
Total revenues	$	10,616	$	1,102	$	238	$	11,956	$	53	$	(101)	$	11,908
Segment income (loss)(a)	$	1,755	$	262	$	74	$	2,091	$	(387)	$	—	$	1,704
Less: Noncontrolling interests													118
Add: Preferred stock dividend													53
Net Income													$	1,639

	Six Months Ended June 30, 2020
	Electric		Gas				Total
	Utilities and		Utilities and		Commercial		Reportable
(in millions)	Infrastructure		Infrastructure		Renewables		Segments		Other		Eliminations		Total
Unaffiliated revenues	$	10,200	$	905	$	252	$	11,357	$	13	$	—	$	11,370
Intersegment revenues	17		48		—		65		36		(101)		—
Total revenues	$	10,217	$	953	$	252	$	11,422	$	49	$	(101)	$	11,370
Segment income (loss)(b)	$	1,458	$	(1,327)	$	147	$	278	$	(196)	$	—	$	82
Less: Noncontrolling interests													138
Add: Preferred stock dividend													54
Net Income													$	(2)

(a)    Gas Utilities and Infrastructure includes $22 million, recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Commercial Renewables includes a $35 million loss related to Texas Storm Uri, of which ($8 million) is recorded within Nonregulated electric and other revenues, $2 million within Operations, maintenance and other, $29 million within Equity in earnings (losses) of unconsolidated affiliates and $12 million within Loss Attributable to Noncontrolling Interests on the Condensed Consolidated Statements of Operations. See Note 4 for additional information. Other includes $131 million recorded within Impairment of assets and other charges, $27 million within Operations, maintenance and other, and $17 million within Depreciation and amortization on the Condensed Consolidated Statements of Operations, related to the workplace and workplace realignment. See Note 1 for additional information.

(b)    Gas Utilities and Infrastructure includes $2 billion recorded within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations, related to gas pipeline investments. See Note 3 for additional information. Other includes a $98 million reversal, included in Operations, maintenance and other on the Condensed Consolidated Statements of Operations, of 2018 severance costs due to a partial settlement in the Duke Energy Carolinas' 2019 North Carolina rate case. See Note 3 for additional information.

Duke Energy Ohio

Segment Reporting Information [Line Items]

Business Segment Data

	Three Months Ended June 30, 2021
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Eliminations		Total
Total revenues	$	343	$	113	$	456	$	—	$	—	$	456
Segment income/Net income	$	24	$	23	$	47	$	(8)	$	—	$	39
Segment assets	$	6,645	$	3,668	$	10,313	$	28	$	(19)	$	10,322

	Three Months Ended June 30, 2020
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	330	$	93	$	423	$	—	$	423
Segment income/Net income	$	44	$	23	$	67	$	(1)	$	66

	Six Months Ended June 30, 2021
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	706	$	282	$	988	$	—	$	988
Segment income/Net (loss) income	$	74	$	66	$	140	$	(10)	$	130

	Six Months Ended June 30, 2020
	Electric		Gas		Total
	Utilities and		Utilities and		Reportable
(in millions)	Infrastructure		Infrastructure		Segments		Other		Total
Total revenues	$	676	$	245	$	921	$	—	$	921
Segment income/Net (loss) income	$	74	$	59	$	133	$	(2)	$	131

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Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2021

Regulated Operations [Abstract]

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 Condensed Consolidated Balance Sheets as of June 30, 2021, and exclude capitalized asset retirement costs.

		Remaining Net
	Capacity	Book Value
	(in MW)	(in millions)
Duke Energy Carolinas
Allen Steam Station Units 1-2(a)	324	$	20
Allen Steam Station Units 4-5(b)	516	376
Cliffside Unit 5(b)	544	337
Duke Energy Progress
Mayo Unit 1(b)	704	650
Roxboro Units 3-4(b)	1,392	474
Duke Energy Florida
Crystal River Units 4-5(c)	1,410	1,670
Duke Energy Indiana (d)
Gibson Units 1-5(e)	2,822	1,840
Cayuga Units 1-2(e)	995	736
Total Duke Energy	8,707	$	6,103

(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.

(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.

(c)On January 14, 2021, Duke Energy Florida filed a settlement agreement 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 settlement was approved by the FPSC 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)On July 1, 2019, Duke Energy Indiana submitted its 2018 IRP with the IURC. The 2018 IRP included scenarios evaluating the potential retirement of coal-fired generating units at Gibson and Cayuga. 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.

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Reserves

The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Accounts Payable within Current Liabilities and Other within Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets.

(in millions)	June 30, 2021		December 31, 2020
Reserves for Environmental Remediation
Duke Energy	$	74	$	75
Duke Energy Carolinas	20		19
Progress Energy	18		19
Duke Energy Progress	6		6
Duke Energy Florida	12		12
Duke Energy Ohio	21		22
Duke Energy Indiana	5		6
Piedmont	11		10

The table below presents recorded reserves based on management’s best estimate of probable loss for legal matters, excluding asbestos-related reserves discussed above. Reserves are classified on the Condensed Consolidated Balance Sheets in Other within Other Noncurrent Liabilities and Other within Current Liabilities. The reasonably possible range of loss in excess of recorded reserves is not material, other than as described above.

(in millions)	June 30, 2021		December 31, 2020
Reserves for Legal Matters
Duke Energy	$	65	$	68
Duke Energy Carolinas	2		2
Progress Energy	58		61
Duke Energy Progress	12		13
Duke Energy Florida	26		28
Piedmont	1		1

Schedule of Additional Possible Losses in Excess of Recorded Environmental Reserves

Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are not material except as presented in the table below.

(in millions)
Duke Energy	$	20
Duke Energy Carolinas	12
Duke Energy Ohio	4

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Debt and Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table summarizes significant debt issuances (in millions).

					Six Months Ended June 30, 2021
							Duke		Duke
	Maturity	Interest			Duke		Energy		Energy
Issuance Date	Date	Rate			Energy		(Parent)		Carolinas		Piedmont
Unsecured Debt
March 2021(a)	Mar 2031	2.500	%		$	350	$	—	$	—	$	350
June 2021(c)	Jun 2023	2.500	%	(b)	500		500		—		—
June 2021(c)	Jun 2031	2.550	%		1,000		1,000		—		—
June 2021(c)	Jun 2041	3.300	%		750		750		—		—
June 2021(c)	Jun 2051	3.500	%		750		750		—		—
First Mortgage Bonds
April 2021(d)	Apr 2031	2.550	%		550		—		550		—
April 2021(d)	Apr 2051	3.450	%		450		—		450		—
Total issuances					$	4,350	$	3,000	$	1,000	$	350

(a)Debt issued to repay at maturity $160 million senior unsecured notes due June 2021, pay down short-term debt and for general corporate purposes.

(b)Debt issuance has a floating interest rate.

(c)Debt issued to repay $1.75 billion of Duke Energy (Parent) 2021 debt maturities, to repay a portion of short-term debt and for general corporate purposes.

(d)Debt issued to repay at maturity $500 million first mortgage bonds due June 2021, pay down short-term debt and for general company purposes.

The following table shows the significant components of Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.

(in millions)	Maturity Date	Interest Rate			June 30, 2021
Unsecured Debt
Duke Energy (Parent)(a)	August 2021	1.800	%		$	750
Duke Energy Florida	November 2021	0.391	%	(b)	200
Duke Energy Progress	February 2022	0.335	%	(b)	700
Duke Energy (Parent)	March 2022	3.227	%		300
Duke Energy (Parent)	March 2022	0.775	%	(b)	300
Progress Energy	April 2022	3.150	%		450
First Mortgage Bonds
Duke Energy Florida	August 2021	3.100	%		300
Duke Energy Progress	September 2021	3.000	%		500
Duke Energy Progress	September 2021	8.625	%		100
Duke Energy Indiana	January 2022	8.850	%		53
Duke Energy Carolinas	May 2022	3.350	%		350
Duke Energy Progress	May 2022	2.800	%		500
Other(c)					473
Current maturities of long-term debt					$	4,976

(a)    Debt was retired at par on August 1, 2021.

(b)    Debt has a floating interest rate.

(c)    Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.

Schedule Of Line Of Credit Facilities

The table below includes the current borrowing sublimits and available capacity under these credit facilities.

	June 30, 2021
			Duke		Duke		Duke		Duke		Duke		Duke
	Duke		Energy		Energy		Energy		Energy		Energy		Energy
(in millions)	Energy		(Parent)		Carolinas		Progress		Florida		Ohio		Indiana		Piedmont
Facility size(a)	$	8,000	$	2,650	$	1,325	$	1,150	$	850	$	725	$	600	$	700
Reduction to backstop issuances
Commercial paper(b)	(2,747)		(549)		(767)		(418)		(360)		(411)		(150)		(92)
Outstanding letters of credit	(31)		(25)		(4)		(2)		—		—		—		—
Tax-exempt bonds	(81)		—		—		—		—		—		(81)		—
Available capacity under the Master Credit Facility	$	5,141	$	2,076	$	554	$	730	$	490	$	314	$	369	$	608

(a)Represents the sublimit of each borrower.

(b)Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies on the Condensed Consolidated Balance Sheets.

	June 30, 2021
(in millions)	Facility size		Amount drawn
Duke Energy (Parent) Three-Year Revolving Credit Facility(a)	$	1,000	$	500

(a)During March 2021, Duke Energy extended the maturity date of the Three-Year Revolving Credit Facility from May 2022 to May 2024.

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Goodwill (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill By Reportable Operating Segment

The following table presents the goodwill by reportable segment included on Duke Energy's Condensed Consolidated Balance Sheets at June 30, 2021, and December 31, 2020.

	Electric Utilities		Gas Utilities		Commercial
(in millions)	and Infrastructure		and Infrastructure		Renewables		Total
Goodwill balance	$	17,379	$	1,924	$	122	$	19,425
Accumulated impairment charges	—		—		(122)		(122)
Goodwill, adjusted for accumulated impairment charges	$	17,379	$	1,924	$	—	$	19,303

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Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2021

Related Party Transactions [Abstract]

Schedule of Related Party Transactions, Other Revenue and Expense

Material amounts related to transactions with related parties included on the Condensed Consolidated Statements of Operations and Comprehensive Income are presented in the following table.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Duke Energy Carolinas
Corporate governance and shared service expenses(a)	$	243	$	196	$	446	$	330
Indemnification coverages(b)	6		5		12		10
Joint Dispatch Agreement (JDA) revenue(c)	13		3		26		10
JDA expense(c)	25		20		65		44
Intercompany natural gas purchases(d)	15		10		29		16
Progress Energy
Corporate governance and shared service expenses(a)	$	233	$	189	$	414	$	335
Indemnification coverages(b)	11		9		21		18
JDA revenue(c)	25		20		65		44
JDA expense(c)	13		3		26		10
Intercompany natural gas purchases(d)	18		19		37		38
Duke Energy Progress
Corporate governance and shared service expenses(a)	$	141	$	113	$	246	$	188
Indemnification coverages(b)	5		5		10		9
JDA revenue(c)	25		20		65		44
JDA expense(c)	13		3		26		10
Intercompany natural gas purchases(d)	18		19		37		38
Duke Energy Florida
Corporate governance and shared service expenses(a)	$	92	$	76	$	168	$	147
Indemnification coverages(b)	6		4		11		9
Duke Energy Ohio
Corporate governance and shared service expenses(a)	$	79	$	77	$	158	$	161
Indemnification coverages(b)	1		1		2		2
Duke Energy Indiana
Corporate governance and shared service expenses(a)	$	93	$	92	$	206	$	198
Indemnification coverages(b)	2		2		4		4
Piedmont
Corporate governance and shared service expenses(a)	$	36	$	37	$	69	$	71
Indemnification coverages(b)	1		—		2		1
Intercompany natural gas sales(d)	33		29		66		54
Natural gas storage and transportation costs(e)	5		6		11		12

(a)    The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other and Impairment of assets and other charges on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(b)    The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(c)    Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(d)    Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Condensed Consolidated Statements of Operations and Comprehensive Income.

(e)    Piedmont has related party transactions as a customer of its equity method investments in Pine Needle LNG Company, LLC, Hardy Storage Company, LLC and Cardinal Pipeline Company, LLC natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Condensed Consolidated Statements of Operations and Comprehensive Income.The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.

	Duke				Duke		Duke		Duke		Duke
	Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
June 30, 2021
Intercompany income tax receivable	$	—	$	74	$	—	$	1	$	—	$	—	$	22
Intercompany income tax payable	36		—		4		—		6		7		—
December 31, 2020
Intercompany income tax receivable	$	—	$	—	$	—	$	—	$	—	$	9	$	10
Intercompany income tax payable	31		33		46		35		2		—		—

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Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amounts of Outstanding Derivative Positions

The following table shows notional amounts of outstanding derivatives related to interest rate risk.

	June 30, 2021
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio
Cash flow hedges	$	1,344	$	—	$	—	$	—	$	—	$	—
Undesignated contracts	1,681		350		1,250		750		500		27
Total notional amount(a)	$	3,025	$	350	$	1,250	$	750	$	500	$	27

	December 31, 2020
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio
Cash flow hedges	$	632	$	—	$	—	$	—	$	—	$	—
Undesignated contracts	1,177		400		750		750		—		27
Total notional amount(a)	$	1,809	$	400	$	750	$	750	$	—	$	27

(a)    Duke Energy includes amounts related to consolidated VIEs of $594 million in cash flow hedges and $54 million in undesignated contracts as of June 30, 2021, and $632 million in cash flow hedges as of December 31, 2020.

The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.

	June 30, 2021
		Duke		Duke	Duke	Duke
	Duke	Energy	Progress	Energy	Energy	Energy
	Energy	Carolinas	Energy	Progress	Ohio	Indiana	Piedmont
Electricity (GWh)(a)	34,427	—	—	—	3,727	20,273	—
Natural gas (millions of dekatherms)	744	206	180	180	—	4	354

	December 31, 2020
		Duke		Duke	Duke	Duke
	Duke	Energy	Progress	Energy	Energy	Energy
	Energy	Carolinas	Energy	Progress	Ohio	Indiana	Piedmont
Electricity (GWh)(a)	35,409	—	—	—	2,559	10,802	—
Natural gas (millions of dekatherms)	678	145	158	158	—	2	373

(a)    Duke Energy includes 10,427 GWh and 22,048 GWh related to cash flow hedges as of June 30, 2021, and December 31, 2020, respectively.

Location And Fair Value Of Derivatives Recognized in the Condensed Consolidated Balance Sheets

The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Condensed Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.

Derivative Assets	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current	$	163	$	69	$	65	$	54	$	10	$	3	$	24	$	2
Noncurrent	67		38		29		30		—		—		—		—
Total Derivative Assets – Commodity Contracts	$	230	$	107	$	94	$	84	$	10	$	3	$	24	$	2
Interest Rate Contracts
Not Designated as Hedging Instruments
Current	$	52	$	—	$	48	$	48	$	—	$	—	$	—	$	—
Total Derivative Assets – Interest Rate Contracts	$	52	$	—	$	48	$	48	$	—	$	—	$	—	$	—
Total Derivative Assets	$	282	$	107	$	142	$	132	$	10	$	3	$	24	$	2

Derivative Liabilities	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Designated as Hedging Instruments
Current	$	29	$	—	$	—	$	—	$	—	$	—	$	—	—
Noncurrent	127		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	$	27	$	—	$	—	$	—	$	—	$	—	$	—	$	26
Noncurrent	139		—		4		4		—		—		—		135
Total Derivative Liabilities – Commodity Contracts	$	322	$	—	$	4	$	4	$	—	$	—	$	—	$	161
Interest Rate Contracts
Designated as Hedging Instruments
Current	$	14	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	62		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	21		7		13		—		13		1		—		—
Noncurrent	4		—		—		—		—		4		—		—
Total Derivative Liabilities – Interest Rate Contracts	$	101	$	7	$	13	$	—	$	13	$	5	$	—	$	—
Total Derivative Liabilities	$	423	$	7	$	17	$	4	$	13	$	5	$	—	$	161

Derivative Assets	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current	$	30	$	14	$	9	$	9	$	—	$	1	$	6	$	1
Noncurrent	13		6		6		6		—		—		—		—
Total Derivative Assets – Commodity Contracts	$	43	$	20	$	15	$	15	$	—	$	1	$	6	$	1
Interest Rate Contracts
Not Designated as Hedging Instruments
Current	$	18	$	—	$	18	$	18	$	—	$	—	$	—	$	—
Total Derivative Assets – Interest Rate Contracts	$	18	$	—	$	18	$	18	$	—	$	—	$	—	$	—
Total Derivative Assets	$	61	$	20	$	33	$	33	$	—	$	1	$	6	$	1

Derivative Liabilities	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Commodity Contracts
Designated as Hedging Instruments
Current	$	14	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	70		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	$	30	$	13	$	2	$	2	$	—	$	—	$	1	$	15
Noncurrent	137		3		27		12		—		—		—		107
Total Derivative Liabilities – Commodity Contracts	$	251	$	16	$	29	$	14	$	—	$	—	$	1	$	122
Interest Rate Contracts
Designated as Hedging Instruments
Current	$	15	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Noncurrent	48		—		—		—		—		—		—		—
Not Designated as Hedging Instruments
Current	5		4		—		—		—		1		—		—
Noncurrent	5		—		—		—		—		5		—		—
Total Derivative Liabilities – Interest Rate Contracts	$	73	$	4	$	—	$	—	$	—	$	6	$	—	$	—
Total Derivative Liabilities	$	324	$	20	$	29	$	14	$	—	$	6	$	1	$	122

Offsetting Assets

The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.

Derivative Assets	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	215	$	69	$	113	$	102	$	10	$	3	$	24	$	2
Gross amounts offset	(3)		(3)		—		—		—		—		—		—
Net amounts presented in Current Assets: Other	$	212	$	66	$	113	$	102	$	10	$	3	$	24	$	2
Noncurrent
Gross amounts recognized	$	67	$	38	$	29	$	30	$	—	$	—	$	—	$	—
Gross amounts offset	(6)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Assets: Other	$	61	$	37	$	25	$	26	$	—	$	—	$	—	$	—

Derivative Liabilities	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	91	$	7	$	13	$	—	$	13	$	1	$	—	$	26
Gross amounts offset	—		—		—		—		—		—		—		—
Net amounts presented in Current Liabilities: Other	$	91	$	7	$	13	$	—	$	13	$	1	$	—	$	26
Noncurrent
Gross amounts recognized	$	332	$	—	$	4	$	4	$	—	$	4	$	—	$	135
Gross amounts offset	(4)		—		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Liabilities: Other	$	328	$	—	$	—	$	—	$	—	$	4	$	—	$	135

Derivative Assets	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	48	$	14	$	27	$	27	$	—	$	1	$	6	$	1
Gross amounts offset	(3)		(2)		(2)		(2)		—		—		—		—
Net amounts presented in Current Assets: Other	$	45	$	12	$	25	$	25	$	—	$	1	$	6	$	1
Noncurrent
Gross amounts recognized	$	13	$	6	$	6	$	6	$	—	$	—	$	—	$	—
Gross amounts offset	(5)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Assets: Other	$	8	$	5	$	2	$	2	$	—	$	—	$	—	$	—

Derivative Liabilities	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	64	$	17	$	2	$	2	$	—	$	1	$	1	$	15
Gross amounts offset	(3)		(2)		(2)		(2)		—		—		—		—
Net amounts presented in Current Liabilities: Other	$	61	$	15	$	—	$	—	$	—	$	1	$	1	$	15
Noncurrent
Gross amounts recognized	$	260	$	3	$	27	$	12	$	—	$	5	$	—	$	107
Gross amounts offset	(5)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Liabilities: Other	$	255	$	2	$	23	$	8	$	—	$	5	$	—	$	107

Offsetting Liabilities

The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.

Derivative Assets	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	215	$	69	$	113	$	102	$	10	$	3	$	24	$	2
Gross amounts offset	(3)		(3)		—		—		—		—		—		—
Net amounts presented in Current Assets: Other	$	212	$	66	$	113	$	102	$	10	$	3	$	24	$	2
Noncurrent
Gross amounts recognized	$	67	$	38	$	29	$	30	$	—	$	—	$	—	$	—
Gross amounts offset	(6)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Assets: Other	$	61	$	37	$	25	$	26	$	—	$	—	$	—	$	—

Derivative Liabilities	June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	91	$	7	$	13	$	—	$	13	$	1	$	—	$	26
Gross amounts offset	—		—		—		—		—		—		—		—
Net amounts presented in Current Liabilities: Other	$	91	$	7	$	13	$	—	$	13	$	1	$	—	$	26
Noncurrent
Gross amounts recognized	$	332	$	—	$	4	$	4	$	—	$	4	$	—	$	135
Gross amounts offset	(4)		—		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Liabilities: Other	$	328	$	—	$	—	$	—	$	—	$	4	$	—	$	135

Derivative Assets	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	48	$	14	$	27	$	27	$	—	$	1	$	6	$	1
Gross amounts offset	(3)		(2)		(2)		(2)		—		—		—		—
Net amounts presented in Current Assets: Other	$	45	$	12	$	25	$	25	$	—	$	1	$	6	$	1
Noncurrent
Gross amounts recognized	$	13	$	6	$	6	$	6	$	—	$	—	$	—	$	—
Gross amounts offset	(5)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Assets: Other	$	8	$	5	$	2	$	2	$	—	$	—	$	—	$	—

Derivative Liabilities	December 31, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Current
Gross amounts recognized	$	64	$	17	$	2	$	2	$	—	$	1	$	1	$	15
Gross amounts offset	(3)		(2)		(2)		(2)		—		—		—		—
Net amounts presented in Current Liabilities: Other	$	61	$	15	$	—	$	—	$	—	$	1	$	1	$	15
Noncurrent
Gross amounts recognized	$	260	$	3	$	27	$	12	$	—	$	5	$	—	$	107
Gross amounts offset	(5)		(1)		(4)		(4)		—		—		—		—
Net amounts presented in Other Noncurrent Liabilities: Other	$	255	$	2	$	23	$	8	$	—	$	5	$	—	$	107

XML

Investments in Debt and Equity Securities (Tables)

6 Months Ended

Jun. 30, 2021

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Trading, and Equity Securities, FV-NI

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	153	$	—	$	—	$	177
Equity securities	4,710		31		6,743		4,138		54		6,235
Corporate debt securities	51		3		861		76		1		806
Municipal bonds	17		—		298		22		—		370
U.S. government bonds	36		8		1,665		51		—		1,361
Other debt securities	6		—		188		8		—		180
Total NDTF Investments	$	4,820	$	42	$	9,908	$	4,295	$	55	$	9,129
Other Investments
Cash and cash equivalents	$	—	$	—	$	83	$	—	$	—	$	127
Equity securities	98		—		166		79		—		146
Corporate debt securities	4		—		118		8		—		110
Municipal bonds	4		1		69		5		—		86
U.S. government bonds	1		—		66		—		—		42
Other debt securities	—		—		31		—		—		47
Total Other Investments	$	107	$	1	$	533	$	92	$	—	$	558
Total Investments	$	4,927	$	43	$	10,441	$	4,387	$	55	$	9,687

Debt Securities, Available-for-sale

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	153	$	—	$	—	$	177
Equity securities	4,710		31		6,743		4,138		54		6,235
Corporate debt securities	51		3		861		76		1		806
Municipal bonds	17		—		298		22		—		370
U.S. government bonds	36		8		1,665		51		—		1,361
Other debt securities	6		—		188		8		—		180
Total NDTF Investments	$	4,820	$	42	$	9,908	$	4,295	$	55	$	9,129
Other Investments
Cash and cash equivalents	$	—	$	—	$	83	$	—	$	—	$	127
Equity securities	98		—		166		79		—		146
Corporate debt securities	4		—		118		8		—		110
Municipal bonds	4		1		69		5		—		86
U.S. government bonds	1		—		66		—		—		42
Other debt securities	—		—		31		—		—		47
Total Other Investments	$	107	$	1	$	533	$	92	$	—	$	558
Total Investments	$	4,927	$	43	$	10,441	$	4,387	$	55	$	9,687

Schedule of Realized Gain (Loss)

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	146	$	302	$	286	$	325
Realized losses	37		67		60		132
AFS:
Realized gains	16		27		34		47
Realized losses	18		13		31		19

Investments Classified by Contractual Maturity Date

The table below summarizes the maturity date for debt securities.

	June 30, 2021
			Duke				Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Indiana
Due in one year or less	$	162	$	10	$	112	$	16	$	96	$	4
Due after one through five years	1,022		385		578		262		316		18
Due after five through 10 years	683		301		302		243		59		8
Due after 10 years	1,429		772		579		540		39		15
Total	$	3,296	$	1,468	$	1,571	$	1,061	$	510	$	45

Duke Energy Carolinas

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Trading, and Equity Securities, FV-NI

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	68	$	—	$	—	$	30
Equity securities	2,729		14		3,910		2,442		23		3,685
Corporate debt securities	32		2		495		49		1		510
Municipal bonds	2		—		21		6		—		91
U.S. government bonds	19		3		770		25		—		475
Other debt securities	5		—		182		7		—		174
Total NDTF Investments	$	2,787	$	19	$	5,446	$	2,529	$	24	$	4,965

Debt Securities, Available-for-sale

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	68	$	—	$	—	$	30
Equity securities	2,729		14		3,910		2,442		23		3,685
Corporate debt securities	32		2		495		49		1		510
Municipal bonds	2		—		21		6		—		91
U.S. government bonds	19		3		770		25		—		475
Other debt securities	5		—		182		7		—		174
Total NDTF Investments	$	2,787	$	19	$	5,446	$	2,529	$	24	$	4,965

Schedule of Realized Gain (Loss)

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	90	$	27	$	218	$	36
Realized losses	23		25		39		70
AFS:
Realized gains	12		18		25		30
Realized losses	13		8		22		13

Progress Energy

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Trading, and Equity Securities, FV-NI

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	85	$	—	$	—	$	147
Equity securities	1,981		17		2,833		1,696		31		2,550
Corporate debt securities	19		1		366		27		—		296
Municipal bonds	15		—		277		16		—		279
U.S. government bonds	17		5		895		26		—		886
Other debt securities	1		—		6		1		—		6
Total NDTF Investments	$	2,033	$	23	$	4,462	$	1,766	$	31	$	4,164
Other Investments
Cash and cash equivalents	$	—	$	—	$	4	$	—	$	—	$	106
Municipal bonds	3		—		27		3		—		26
Total Other Investments	$	3	$	—	$	31	$	3	$	—	$	132
Total Investments	$	2,036	$	23	$	4,493	$	1,769	$	31	$	4,296

Debt Securities, Available-for-sale

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	85	$	—	$	—	$	147
Equity securities	1,981		17		2,833		1,696		31		2,550
Corporate debt securities	19		1		366		27		—		296
Municipal bonds	15		—		277		16		—		279
U.S. government bonds	17		5		895		26		—		886
Other debt securities	1		—		6		1		—		6
Total NDTF Investments	$	2,033	$	23	$	4,462	$	1,766	$	31	$	4,164
Other Investments
Cash and cash equivalents	$	—	$	—	$	4	$	—	$	—	$	106
Municipal bonds	3		—		27		3		—		26
Total Other Investments	$	3	$	—	$	31	$	3	$	—	$	132
Total Investments	$	2,036	$	23	$	4,493	$	1,769	$	31	$	4,296

Schedule of Realized Gain (Loss)

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	56	$	275	$	68	$	289
Realized losses	14		42		21		62
AFS:
Realized gains	3		6		7		11
Realized losses	3		4		6		5

Duke Energy Progress

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Trading, and Equity Securities, FV-NI

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	73	$	—	$	—	$	76
Equity securities	1,888		17		2,730		1,617		31		2,459
Corporate debt securities	19		1		299		27		—		296
Municipal bonds	15		—		277		16		—		279
U.S. government bonds	17		2		479		26		—		412
Other debt securities	1		—		6		1		—		6
Total NDTF Investments	$	1,940	$	20	$	3,864	$	1,687	$	31	$	3,528
Other Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Total Other Investments	$	—	$	—	$	1	$	—	$	—	$	1
Total Investments	$	1,940	$	20	$	3,865	$	1,687	$	31	$	3,529

Debt Securities, Available-for-sale

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	73	$	—	$	—	$	76
Equity securities	1,888		17		2,730		1,617		31		2,459
Corporate debt securities	19		1		299		27		—		296
Municipal bonds	15		—		277		16		—		279
U.S. government bonds	17		2		479		26		—		412
Other debt securities	1		—		6		1		—		6
Total NDTF Investments	$	1,940	$	20	$	3,864	$	1,687	$	31	$	3,528
Other Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Total Other Investments	$	—	$	—	$	1	$	—	$	—	$	1
Total Investments	$	1,940	$	20	$	3,865	$	1,687	$	31	$	3,529

Schedule of Realized Gain (Loss)

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2021, and 2020, were as follows.

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	55	$	26	$	67	$	40
Realized losses	13		27		20		47
AFS:
Realized gains	3		6		7		11
Realized losses	3		4		6		5

Duke Energy Florida

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Trading, and Equity Securities, FV-NI

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	12	$	—	$	—	$	71
Equity securities	93		—		103		79		—		91
Corporate debt securities	—		—		67		—		—		—
U.S. government bonds	—		3		416		—		—		474
Total NDTF Investments(a)	$	93	$	3	$	598	$	79	$	—	$	636
Other Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Municipal bonds	3		—		27		3		—		26
Total Other Investments	$	3	$	—	$	28	$	3	$	—	$	27
Total Investments	$	96	$	3	$	626	$	82	$	—	$	663

(a)During the six months ended June 30, 2021, and the year ended December 31, 2020, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.

Debt Securities, Available-for-sale

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
NDTF
Cash and cash equivalents	$	—	$	—	$	12	$	—	$	—	$	71
Equity securities	93		—		103		79		—		91
Corporate debt securities	—		—		67		—		—		—
U.S. government bonds	—		3		416		—		—		474
Total NDTF Investments(a)	$	93	$	3	$	598	$	79	$	—	$	636
Other Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Municipal bonds	3		—		27		3		—		26
Total Other Investments	$	3	$	—	$	28	$	3	$	—	$	27
Total Investments	$	96	$	3	$	626	$	82	$	—	$	663

(a)During the six months ended June 30, 2021, and the year ended December 31, 2020, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.

Schedule of Realized Gain (Loss)

Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI for the three and six months ended June 30, 2021, and 2020, were as follows:

	Three Months Ended				Six Months Ended
(in millions)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
FV-NI:
Realized gains	$	1	$	249	$	1	$	249
Realized losses	1		15		1		15

Duke Energy Indiana

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Trading, and Equity Securities, FV-NI

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Equity securities	70		—		110		58		—		97
Corporate debt securities	—		—		4		—		—		3
Municipal bonds	1		1		35		1		—		38
U.S. government bonds	—		—		6		—		—		4
Total Investments	$	71	$	1	$	156	$	59	$	—	$	143

Debt Securities, Available-for-sale

The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.

	June 30, 2021						December 31, 2020
	Gross		Gross				Gross		Gross
	Unrealized		Unrealized		Estimated		Unrealized		Unrealized		Estimated
	Holding		Holding		Fair		Holding		Holding		Fair
(in millions)	Gains		Losses		Value		Gains		Losses		Value
Investments
Cash and cash equivalents	$	—	$	—	$	1	$	—	$	—	$	1
Equity securities	70		—		110		58		—		97
Corporate debt securities	—		—		4		—		—		3
Municipal bonds	1		1		35		1		—		38
U.S. government bonds	—		—		6		—		—		4
Total Investments	$	71	$	1	$	156	$	59	$	—	$	143

XML

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

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 Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 8. See Note 9 for additional information related to investments by major security type for the Duke Energy Registrants.

	June 30, 2021
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Not Categorized
NDTF cash and cash equivalents	$	153	$	153	$	—	$	—	$	—
NDTF equity securities	6,743		6,695		—		—		48
NDTF debt securities	3,012		1,066		1,946		—		—
Other equity securities	166		166		—		—		—
Other debt securities	284		60		224		—		—
Other cash and cash equivalents	83		83		—		—		—
Derivative assets	282		4		253		25		—
Total assets	10,723		8,227		2,423		25		48
Derivative liabilities	(423)		—		(267)		(156)		—
Net assets (liabilities)	$	10,300	$	8,227	$	2,156	$	(131)	$	48

	December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Not Categorized
NDTF cash and cash equivalents	$	177	$	177	$	—	$	—	$	—
NDTF equity securities	6,235		6,189		—		—		46
NDTF debt securities	2,717		874		1,843		—		—
Other equity securities	146		146		—		—		—
Other debt securities	285		37		248		—		—
Other cash and cash equivalents	127		127		—		—		—
Derivative assets	61		1		53		7		—
Total assets	9,748		7,551		2,144		7		46
Derivative liabilities	(324)		—		(240)		(84)		—
Net assets (liabilities)	$	9,424	$	7,551	$	1,904	$	(77)	$	46

Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs

The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.

	Derivatives (net)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	(126)	$	(88)	$	(77)	$	(102)
Total pretax realized or unrealized losses included in comprehensive income	(31)		—		(75)		—
Purchases, sales, issuances and settlements:
Purchases	21		14		21		14
Settlements	(1)		(6)		(8)		(15)
Total gains (losses) included on the Condensed Consolidated Balance Sheet	6		(12)		8		11
Balance at end of period	$	(131)	$	(92)	$	(131)	$	(92)

Quantitative Information Table - Level 3

The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.

	June 30, 2021
										Weighted
	Fair Value									Average
Investment Type	(in millions)		Valuation Technique	Unobservable Input	Range					Range
Duke Energy
Electricity contracts	$	(156)	RTO forward pricing	Forward electricity curves – price per MWh	$	16.82	-	$	174.84	$	37.87
Duke Energy Ohio
FTRs	3		RTO auction pricing	FTR price – per MWh	0		-	1.65		0.88
Duke Energy Indiana
FTRs	22		RTO auction pricing	FTR price – per MWh	(2.07)		-	7.38		1.12
Duke Energy
Total Level 3 derivatives	$	(131)

	December 31, 2020
									Weighted
	Fair Value								Average
Investment Type	(in millions)		Valuation Technique	Unobservable Input	Range				Range
Duke Energy
Electricity contracts	$	(84)	Discounted cash flow	Forward electricity curves – price per MWh	$	14.68	-	$151.84	$28.84
Duke Energy Ohio
FTRs	1		RTO auction pricing	FTR price – per MWh	0.25		-	1.68	0.79
Duke Energy Indiana
FTRs	6		RTO auction pricing	FTR price – per MWh	(2.40)		-	7.41	1.05
Duke Energy
Total Level 3 derivatives	$	(77)

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.

	June 30, 2021				December 31, 2020
(in millions)	Book Value		Fair Value		Book Value		Fair Value
Duke Energy(a)	$	62,386	$	69,222	$	59,863	$	69,292
Duke Energy Carolinas	12,906		15,011		12,218		14,917
Progress Energy	19,250		22,502		19,264		23,470
Duke Energy Progress	9,277		10,405		9,258		10,862
Duke Energy Florida	7,881		9,338		7,915		9,756
Duke Energy Ohio	3,091		3,531		3,089		3,650
Duke Energy Indiana	4,092		4,929		4,091		5,204
Piedmont	2,967		3,337		2,780		3,306

(a)    Book value of long-term debt includes $1.3 billion at June 30, 2021, and December 31, 2020, of net unamortized debt discount and premium of 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 Condensed Consolidated Balance Sheets.

	June 30, 2021
(in millions)	Total Fair Value		Level 1		Level 2		Not Categorized
NDTF cash and cash equivalents	$	68	$	68	$	—	$	—
NDTF equity securities	3,910		3,862		—		48
NDTF debt securities	1,468		408		1,060		—
Derivative assets	107		—		107		—
Total assets	5,553		4,338		1,167		48
Derivative liabilities	(7)		—		(7)		—
Net assets	$	5,546	$	4,338	$	1,160	$	48

	December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Not Categorized
NDTF cash and cash equivalents	$	30	$	30	$	—	$	—
NDTF equity securities	3,685		3,639		—		46
NDTF debt securities	1,250		192		1,058		—
Derivative assets	20		—		20		—
Total assets	4,985		3,861		1,078		46
Derivative liabilities	(20)		—		(20)		—
Net assets	$	4,965	$	3,861	$	1,058	$	46

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 tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	85	$	85	$	—	$	147	$	147	$	—
NDTF equity securities	2,833		2,833		—		2,550		2,550		—
NDTF debt securities	1,544		658		886		1,467		682		785
Other debt securities	27		—		27		26		—		26
Other cash and cash equivalents	4		4		—		106		106		—
Derivative assets	142		—		142		33		—		33
Total assets	4,635		3,580		1,055		4,329		3,485		844
Derivative liabilities	(17)		—		(17)		(29)		—		(29)
Net assets	$	4,618	$	3,580	$	1,038	$	4,300	$	3,485	$	815

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 tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	73	$	73	$	—	$	76	$	76	$	—
NDTF equity securities	2,730		2,730		—		2,459		2,459		—
NDTF debt securities	1,061		269		792		993		237		756
Other cash and cash equivalents	1		1		—		1		1		—
Derivative assets	132		—		132		33		—		33
Total assets	3,997		3,073		924		3,562		2,773		789
Derivative liabilities	(4)		—		(4)		(14)		—		(14)
Net assets	$	3,993	$	3,073	$	920	$	3,548	$	2,773	$	775

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 tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
NDTF cash and cash equivalents	$	12	$	12	$	—	$	71	$	71	$	—
NDTF equity securities	103		103		—		91		91		—
NDTF debt securities	483		389		94		474		445		29
Other debt securities	27		—		27		26		—		26
Other cash and cash equivalents	1		1		—		1		1		—
Derivative assets	10		—		10		—		—		—
Total assets	636		505		131		663		608		55
Derivative liabilities	(13)		—		(13)		—		—		—
Net assets	$	623	$	505	$	118	$	663	$	608	$	55

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 tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.

	June 30, 2021								December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3
Other equity securities	$	110	$	110	$	—	$	—	$	97	$	97	$	—	$	—
Other debt securities	45		—		45		—		45		—		45		—
Other cash and cash equivalents	1		1		—		—		1		1		—		—
Derivative assets	24		2		—		22		6		—		—		6
Total assets	180		113		45		22		149		98		45		6
Derivative liabilities	—		—		—		—		(1)		(1)		—		—
Net assets	$	180	$	113	$	45	$	22	$	148	$	97	$	45	$	6

Reconciliation Of Assets And Liabilities Measured At Fair Value On 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)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	2	$	2	$	6	$	11
Purchases, sales, issuances and settlements:
Purchases	18		10		18		10
Settlements	(3)		(4)		(9)		(10)
Total gains (losses) included on the Condensed Consolidated Balance Sheet	5		2		7		(1)
Balance at end of period	$	22	$	10	$	22	$	10

Piedmont

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 Condensed Consolidated Balance Sheets.

	June 30, 2021						December 31, 2020
(in millions)	Total Fair Value		Level 1		Level 2		Total Fair Value		Level 1		Level 2
Derivative assets	$	2	$	2	$	—	$	1	$	1	$	—
Derivative liabilities	(161)		—		(161)		(122)		—		(122)
Net (liabilities) assets	$	(159)	$	2	$	(161)	$	(121)	$	1	$	(122)

Reconciliation Of Assets And Liabilities Measured At Fair Value On 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)
	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Balance at beginning of period	$	—	$	(91)	$	—	$	(117)
Total (losses) gains and settlements	—		(14)		—		12
Balance at end of period	$	—	$	(105)	$	—	$	(105)

XML

Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2021

VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.

	Duke Energy
			Duke Energy		Duke Energy		Duke Energy
			Carolinas		Progress		Florida
(in millions)	CRC		DERF		DEPR		DEFR
Expiration date	February 2023		December 2022		April 2023		April 2023
Credit facility amount	$	350	$	475	$	350	$	250
Amounts borrowed at June 30, 2021	332		475		269		250
Amounts borrowed at December 31, 2020	350		364		250		250
Restricted Receivables at June 30, 2021	527		769		473		445
Restricted Receivables at December 31, 2020	547		696		500		397

VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.

	June 30, 2021
	Duke Energy						Duke		Duke
	Pipeline		Commercial				Energy		Energy
(in millions)	Investments		Renewables		Total		Ohio		Indiana
Receivables from affiliated companies	$	—	$	—	$	—	$	54	$	85
Other current assets	17		—		17		—		$	—
Investments in equity method unconsolidated affiliates	15		475		490		—		—
Deferred tax asset	19		—		19		—		—
Total assets	$	51	$	475	$	526	$	54	$	85
Other current liabilities	33		4		37		—		—
Other noncurrent liabilities	69		10		79		—		—
Total liabilities	$	102	$	14	$	116	$	—	$	—
Net (liabilities) assets	$	(51)	$	461	$	410	$	54	$	85

	December 31, 2020
	Duke Energy						Duke		Duke
	Pipeline		Commercial				Energy		Energy
(in millions)	Investments		Renewables		Total		Ohio		Indiana
Receivables from affiliated companies	$	—	$	—	$	—	$	83	$	110
Investments in equity method unconsolidated affiliates	—		530		530		—		—
Other noncurrent assets	31		—		31		—		—
Total assets	$	31	$	530	$	561	$	83	$	110
Other current liabilities	928		5		933		—		—
Other noncurrent liabilities	8		10		18		—		—
Total liabilities	$	936	$	15	$	951	$	—	$	—
Net assets (liabilities)	$	(905)	$	515	$	(390)	$	83	$	110

DEFPF | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.

(in millions)	June 30, 2021		December 31, 2020
Receivables of VIEs	$	6	$	4
Regulatory Assets: Current	54		53
Current Assets: Other	33		39
Other Noncurrent Assets: Regulatory assets	914		937
Current Liabilities: Other	9		10
Current maturities of long-term debt	55		55
Long-Term Debt	973		1,002

Commercial Renewables | VIE primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The table below presents material balances reported on Duke Energy's Condensed Consolidated Balance Sheets related to Commercial Renewables VIEs.

(in millions)	June 30, 2021		December 31, 2020
Current Assets: Other	$	323	$	257
Property, Plant and Equipment: Cost	6,876		6,394
Accumulated depreciation and amortization	(1,354)		(1,242)
Other Noncurrent Assets: Other	73		67
Current maturities of long-term debt	164		167
Long-Term Debt	1,497		1,569
Other Noncurrent Liabilities: AROs	155		148
Other Noncurrent Liabilities: Other	352		316

CRC | VIE not primary beneficiary

Variable Interest Entities [Line Items]

Schedule Of Variable Interest Entities

The following table shows the gross and net receivables sold.

	Duke Energy Ohio				Duke Energy Indiana
(in millions)	June 30, 2021		December 31, 2020		June 30, 2021		December 31, 2020
Receivables sold	$	219	$	270	$	322	$	344
Less: Retained interests	54		83		85		110
Net receivables sold	$	165	$	187	$	237	$	234

The following table shows sales and cash flows related to receivables sold.

	Duke Energy Ohio								Duke Energy Indiana
	Three Months Ended				Six Months Ended				Three Months Ended				Six Months Ended
	June 30,				June 30,				June 30,				June 30,
(in millions)	2021		2020		2021		2020		2021		2020		2021		2020
Sales
Receivables sold	$	443	$	429	$	1,004	$	966	$	684	$	583	$	1,382	$	1,230
Loss recognized on sale	2		2		5		6		3		2		6		6
Cash flows
Cash proceeds from receivables sold	$	433	$	431	$	1,029	$	990	$	655	$	580	$	1,401	$	1,252
Return received on retained interests	1		—		2		2		1		1		3		3

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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)	2021		2022		2023		2024		2025		Thereafter		Total
Progress Energy	$	49	$	107	$	44	$	45	$	7	$	51	$	303
Duke Energy Progress	4		8		8		8		—		—		28
Duke Energy Florida	45		99		36		37		7		51		275
Duke Energy Indiana	—		—		7		12		12		24		55

Estimated remaining performance obligations are as follows:

	Remaining Performance Obligations
(in millions)	2021		2022		2023		2024		2025		Thereafter		Total
Piedmont	$	34	$	67	$	64	$	61	$	60	$	336	$	622

Disaggregation of Revenue

Disaggregated revenues are presented as follows:

	Three Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,336	$	683	$	1,216	$	478	$	738	$	171	$	265	$	—
General	1,513		498		720		330		390		106		190		—
Industrial	705		256		229		160		69		33		189		—
Wholesale	521		116		331		285		46		13		63		—
Other revenues	234		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
Commercial	91		—		—		—		—		27		—		59
Industrial	30		—		—		—		—		4		—		27
Power Generation	—		—		—		—		—		—		—		24
Other revenues	20		—		—		—		—		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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,249	$	677	$	1,173	$	460	$	713	$	169	$	231	$	—
General	1,379		507		611		298		313		103		161		—
Industrial	658		260		212		154		58		33		152		—
Wholesale	435		101		285		240		45		5		44		—
Other revenues	284		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
Commercial	75		—		—		—		—		23		—		52
Industrial	27		—		—		—		—		3		—		22
Power Generation	—		—		—		—		—		—		—		6
Other revenues	12		—		—		—		—		3		—		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	$	7	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total revenue from contracts with customers	$	5,338	$	1,607	$	2,472	$	1,222	$	1,250	$	420	$	613	$	187
Other revenue sources(a)	$	83	$	3	$	26	$	21	$	—	$	3	$	4	$	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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	4,798	$	1,476	$	2,378	$	1,038	$	1,340	$	366	$	578	$	—
General	2,932		1,000		1,344		636		708		210		379		—
Industrial	1,367		512		436		305		131		64		356		—
Wholesale	1,025		230		657		577		80		26		113		—
Other revenues	460		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
Commercial	295		—		—		—		—		75		—		215
Industrial	80		—		—		—		—		11		—		70
Power Generation	—		—		—		—		—		—		—		46
Other revenues	67		—		—		—		—		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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	4,515	$	1,433	$	2,242	$	962	$	1,280	$	345	$	496	$	—
General	2,887		1,056		1,275		617		658		217		342		—
Industrial	1,351		529		428		308		120		68		327		—
Wholesale	932		215		606		519		87		12		99		—
Other revenues	475		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
Commercial	244		—		—		—		—		66		—		178
Industrial	68		—		—		—		—		9		—		58
Power Generation	—		—		—		—		—		—		—		17
Other revenues	42		—		—		—		—		9		—		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	$	3	$	60	$	42	$	9	$	(3)	$	4	$	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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at March 31, 2020	$	89	$	11	$	20	$	9	$	11	$	5	$	3	$	9
Write-Offs	(9)		(3)		(3)		(3)		—		—		—		(4)
Credit Loss Expense	15		6		12		8		3		—		—		1
Other Adjustments	7		—		—		—		—		—		—		—
Balance at June 30, 2020	$	102	$	14	$	29	$	14	$	14	$	5	$	3	$	6
Balance at March 31, 2021	$	147	$	34	$	37	$	23	$	15	$	4	$	3	$	14
Write-Offs	(5)		1		(4)		(3)		(1)		—		—		(2)
Credit Loss Expense	12		6		6		4		2		—		—		1
Other Adjustments	(31)		1		(3)		(3)		—		—		—		—
Balance at June 30, 2021	$	123	$	42	$	36	$	21	$	16	$	4	$	3	$	13
	Six Months Ended June 30, 2020 and 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at December 31, 2019	$	76	$	10	$	16	$	8	$	7	$	4	$	3	$	6
Cumulative Change in Accounting Principle	5		1		2		1		1		—		—		1
Write-Offs	(19)		(6)		(7)		(5)		(2)		—		—		(5)
Credit Loss Expense	33		9		18		10		8		1		—		4
Other Adjustments	7		—		—		—		—		—		—		—
Balance at June 30, 2020	$	102	$	14	$	29	$	14	$	14	$	5	$	3	$	6
Balance at December 31, 2020	$	146	$	23	$	37	$	23	$	14	$	4	$	3	$	12
Write-Offs	(26)		(7)		(14)		(8)		(6)		—		—		(3)
Credit Loss Expense	29		16		13		6		7		—		—		4
Other Adjustments	(26)		10		—		—		1		—		—		—
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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	894	$	324	$	283	$	156	$	127	$	4	$	30	$	5
0-30 days	1,836		465		781		408		372		55		29		82
30-60 days	148		62		42		22		20		4		2		8
60-90 days	47		20		10		6		4		3		1		5
90+ days	180		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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	969	$	328	$	283	$	167	$	116	$	2	$	16	$	86
0-30 days	1,789		445		707		398		307		60		26		149
30-60 days	185		80		54		25		29		8		3		8
60-90 days	22		1		10		4		6		2		1		3
90+ days	119		16		32		9		23		30		12		9
Deferred Payment Arrangements(c)	215		96		80		52		28		—		—		7
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.

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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule Of Earnings Per Share

The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share amounts)	2021		2020		2021		2020
Net income (loss) available to Duke Energy common stockholders	$	751	$	(817)	$	1,704	$	82
Accumulated preferred stock dividends adjustment	(12)		(12)		—		—
Less: Impact of participating securities	1		—		1		—
Income (loss) from continuing operations available to Duke Energy common stockholders	$	738	$	(829)	$	1,703	$	82
Weighted average common shares outstanding – basic	769		735		769		734
Equity forwards	—		—		—		1
Weighted average common shares outstanding – diluted	769		735		769		735
Earnings (Loss) Per Share available to Duke Energy common stockholders
Basic and diluted	$	0.96	$	(1.13)	$	2.21	$	0.11
Potentially dilutive items excluded from the calculation(a)	2		2		2		2
Dividends declared per common share	$	0.965	$	0.945	$	1.930	$	1.890
Dividends declared on Series A preferred stock per depositary share(b)	$	0.359	$	0.359	$	0.719	$	0.719
Dividends declared on Series B preferred stock per share(c)	$	—	$	—	$	24.375	$	24.917

(a)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.

(b)    5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share.

(c)    4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share.

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Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2021

Qualified Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Pension Costs

The following tables include the components of net periodic pension costs for qualified pension plans.

	Three Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	44	$	14	$	12	$	8	$	6	$	1	$	3	$	2
Interest cost on projected benefit obligation	55		12		18		8		9		4		4		2
Expected return on plan assets	(140)		(35)		(47)		(21)		(25)		(7)		(10)		(5)
Amortization of actuarial loss	34		8		9		4		5		1		4		3
Amortization of prior service credit	(8)		(2)		—		(1)		—		—		(1)		(4)
Amortization of settlement charges	2		2		—		1		—		—		—		—
Net periodic pension costs	$	(13)	$	(1)	$	(8)	$	(1)	$	(5)	$	(1)	$	—	$	(2)

	Three Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	42	$	14	$	12	$	8	$	6	$	1	$	2	$	2
Interest cost on projected benefit obligation	68		15		22		9		11		4		5		3
Expected return on plan assets	(143)		(36)		(47)		(22)		(26)		(7)		(10)		(6)
Amortization of actuarial loss	30		7		9		4		5		1		3		3
Amortization of prior service credit	(8)		(2)		(1)		(1)		(1)		—		(1)		(3)
Amortization of settlement charges	3		1		—		1		—		—		—		—
Net periodic pension costs	$	(8)	$	(1)	$	(5)	$	(1)	$	(5)	$	(1)	$	(1)	$	(1)

	Six Months Ended June 30, 2021
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	88	$	28	$	25	$	15	$	11	$	2	$	5	$	3
Interest cost on projected benefit obligation	110		25		35		15		19		7		9		4
Expected return on plan assets	(279)		(70)		(94)		(42)		(51)		(14)		(20)		(10)
Amortization of actuarial loss	67		15		19		9		10		3		7		5
Amortization of prior service credit	(15)		(4)		(1)		(1)		—		—		(1)		(5)
Amortization of settlement charges	4		3		1		1		—		—		—		—
Net periodic pension costs	$	(25)	$	(3)	$	(15)	$	(3)	$	(11)	$	(2)	$	—	$	(3)

	Six Months Ended June 30, 2020
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Service cost	$	83	$	26	$	24	$	14	$	11	$	2	$	4	$	3
Interest cost on projected benefit obligation	135		31		43		19		23		8		11		5
Expected return on plan assets	(286)		(72)		(95)		(44)		(51)		(14)		(21)		(11)
Amortization of actuarial loss	64		14		20		9		11		3		6		5
Amortization of prior service credit	(16)		(4)		(2)		(1)		(1)		—		(1)		(5)
Amortization of settlement charges	5		2		1		1		—		—		—		—
Net periodic pension costs	$	(15)	$	(3)	$	(9)	$	(2)	$	(7)	$	(1)	$	(1)	$	(3)

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Summary of Effective Tax Rates

The ETRs from continuing operations for each of the Duke Energy Registrants are included in the following table.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Duke Energy	4.9	%	26.2	%	6.8	%	98.9	%
Duke Energy Carolinas	0.4	%	13.7	%	4.3	%	15.1	%
Progress Energy	8.3	%	14.9	%	10.2	%	16.1	%
Duke Energy Progress	2.7	%	13.9	%	5.6	%	15.7	%
Duke Energy Florida	19.0	%	19.1	%	19.1	%	19.4	%
Duke Energy Ohio	22.0	%	15.4	%	16.1	%	16.6	%
Duke Energy Indiana	15.6	%	17.3	%	16.7	%	19.3	%
Piedmont	33.3	%	128.6	%	10.8	%	5.8	%

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Organization and Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Noncontrolling Interest [Line Items]
Other current liabilities	$ 1,994		$ 2,936
Charges related to reduction in physical workspace	175
Impairment of assets and other charges
Noncontrolling Interest [Line Items]
Charges related to reduction in physical workspace	131
Operation, maintenance and other
Noncontrolling Interest [Line Items]
Charges related to reduction in physical workspace	27
Depreciation and amortization
Noncontrolling Interest [Line Items]
Charges related to reduction in physical workspace	17
Forecast
Noncontrolling Interest [Line Items]
Charges related to reduction in physical workspace		$ 200
ACP
Noncontrolling Interest [Line Items]
Other current liabilities	$ 41		$ 936

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Organization and Basis of Presentation (Schedule of Cash Received and Allocated Losses from Subsidiaries, Noncontrolling Interest) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash received for the sale of noncontrolling interest to tax equity members	$ 15	$ 60	$ 318	$ 163
Allocated losses to noncontrolling tax equity members utilizing the HLBV method	55	79	98	128
Allocated losses to noncontrolling members based on pro rata shares of ownership	12	11	20	10
Total Noncontrolling Interest Allocated Losses	$ 67	$ 90	$ 118	$ 138

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Organization and Basis of Presentation (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 367	$ 259
Other	197	194
Other Noncurrent Assets
Other	1	103
Total cash, cash equivalents and restricted cash	565	556	$ 641	$ 573
Progress Energy
Current Assets
Cash and cash equivalents	75	59
Other	33	39
Other Noncurrent Assets
Other		102
Total cash, cash equivalents and restricted cash	108	200	211	126
Duke Energy Florida
Current Assets
Cash and cash equivalents	22	11
Other	33	39
Other Noncurrent Assets
Total cash, cash equivalents and restricted cash	$ 55	$ 50	$ 51	$ 56

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Organization and Basis of Presentation (Schedule of Inventory) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Public Utilities, Inventory [Line Items]
Inventory	$ 3,015	$ 3,167
Materials and supplies
Public Utilities, Inventory [Line Items]
Inventory	2,368	2,312
Coal
Public Utilities, Inventory [Line Items]
Inventory	397	561
Natural gas, oil and other fuel
Public Utilities, Inventory [Line Items]
Inventory	250	294
Duke Energy Carolinas
Public Utilities, Inventory [Line Items]
Inventory	1,013	1,010
Duke Energy Carolinas | Materials and supplies
Public Utilities, Inventory [Line Items]
Inventory	820	785
Duke Energy Carolinas | Coal
Public Utilities, Inventory [Line Items]
Inventory	158	186
Duke Energy Carolinas | Natural gas, oil and other fuel
Public Utilities, Inventory [Line Items]
Inventory	35	39
Progress Energy
Public Utilities, Inventory [Line Items]
Inventory	1,299	1,375
Progress Energy | Materials and supplies
Public Utilities, Inventory [Line Items]
Inventory	1,014	999
Progress Energy | Coal
Public Utilities, Inventory [Line Items]
Inventory	123	193
Progress Energy | Natural gas, oil and other fuel
Public Utilities, Inventory [Line Items]
Inventory	162	183
Duke Energy Progress
Public Utilities, Inventory [Line Items]
Inventory	858	911
Duke Energy Progress | Materials and supplies
Public Utilities, Inventory [Line Items]
Inventory	680	673
Duke Energy Progress | Coal
Public Utilities, Inventory [Line Items]
Inventory	78	131
Duke Energy Progress | Natural gas, oil and other fuel
Public Utilities, Inventory [Line Items]
Inventory	100	107
Duke Energy Florida
Public Utilities, Inventory [Line Items]
Inventory	440	464
Duke Energy Florida | Materials and supplies
Public Utilities, Inventory [Line Items]
Inventory	334	325
Duke Energy Florida | Coal
Public Utilities, Inventory [Line Items]
Inventory	44	63
Duke Energy Florida | Natural gas, oil and other fuel
Public Utilities, Inventory [Line Items]
Inventory	62	76
Duke Energy Ohio
Public Utilities, Inventory [Line Items]
Inventory	111	110
Duke Energy Ohio | Materials and supplies
Public Utilities, Inventory [Line Items]
Inventory	82	78
Duke Energy Ohio | Coal
Public Utilities, Inventory [Line Items]
Inventory	10	16
Duke Energy Ohio | Natural gas, oil and other fuel
Public Utilities, Inventory [Line Items]
Inventory	19	16
Duke Energy Indiana
Public Utilities, Inventory [Line Items]
Inventory	412	473
Duke Energy Indiana | Materials and supplies
Public Utilities, Inventory [Line Items]
Inventory	305	307
Duke Energy Indiana | Coal
Public Utilities, Inventory [Line Items]
Inventory	106	165
Duke Energy Indiana | Natural gas, oil and other fuel
Public Utilities, Inventory [Line Items]
Inventory	1	1
Piedmont
Public Utilities, Inventory [Line Items]
Inventory	43	68
Piedmont | Materials and supplies
Public Utilities, Inventory [Line Items]
Inventory	11	12
Piedmont | Natural gas, oil and other fuel
Public Utilities, Inventory [Line Items]
Inventory	$ 32	$ 56

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Organization and Basis of Presentation (Schedule of New Accounting Pronouncements) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	$ 47,951	$ 49,545	$ 49,658	$ 49,184	$ 46,611	$ 48,083
Accounting Standards Update [Extensible List]	ASU 2016-13
Progress Energy
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	$ 15,593	16,942	16,530	16,241	16,221	15,877
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	4,108	2,687	2,680	2,471	2,707	4,221
Retained Earnings | Progress Energy
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	6,465	$ 7,809	$ 7,400	$ 7,109	$ 7,090	$ 6,747
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	120
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Duke Energy Carolinas
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	16
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Progress Energy
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	2
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Duke Energy Progress
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	1
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Duke Energy Florida
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	1
Cumulative Change in Accounting Principle | Retained Earnings | Revision of Prior Period, Accounting Standards Update, Adjustment | Piedmont
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total pretax impact to Retained Earnings	$ 1

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Business Segments (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($) segment
Duke Energy Ohio
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Wind and solar | Nonregulated
Segment Reporting Information [Line Items]
Renewable merchant plants | $	$ 208
Joint owner ownership percentage	50.00%

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Business Segments (Business Segment Data) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Operating revenues	$ 5,758	$ 5,421	$ 11,908	$ 11,370
Segment income (loss)	751	(817)	1,704	82
Less: Noncontrolling interests	67	90	118	138
Add: Preferred stock dividend	14	15	53	54
Net Income (Loss)	698	(892)	1,639	(2)
Segment assets	165,385		165,385		$ 162,388
Nonregulated electric and other	198	195	380	382
Incurred costs	1,410	1,353	2,812	2,692
Equity in earnings (losses) of unconsolidated affiliates	(9)	1,968	8	1,924
Impairment of assets and other charges	131	6	131	8
Income before taxes	734	(1,208)	1,759	(181)
Duke Energy Ohio [Member]
Segment Reporting Information [Line Items]
Operating revenues	456	423	988	921
Segment income (loss)	39	66	130	131
Segment assets	10,322		10,322		$ 10,025
Incurred costs	111	95	219	218
Impairment of assets and other charges	5		5
Income before taxes	50	78	155	157
Impairment charges
Segment Reporting Information [Line Items]
Impairment of assets and other charges	131		131
Operations, maintenance and other
Segment Reporting Information [Line Items]
Impairment of assets and other charges	27		27
Depreciation and amortization
Segment Reporting Information [Line Items]
Impairment of assets and other charges	17		17
Electric Utilities and Infrastructure
Segment Reporting Information [Line Items]
Operating revenues	5,328	5,026	10,601	10,200
Gas Utilities and Infrastructure
Segment Reporting Information [Line Items]
Operating revenues	305	265	1,057	905
Gas Utilities and Infrastructure | Asset Impairment for Regulatory Action
Segment Reporting Information [Line Items]
Equity in earnings (losses) of unconsolidated affiliates	16		22
Commercial Renewables
Segment Reporting Information [Line Items]
Operating revenues	119	123	238	252
Total Reportable Segments
Segment Reporting Information [Line Items]
Operating revenues	5,752	5,414	11,896	11,357
Other
Segment Reporting Information [Line Items]
Operating revenues	6	7	12	13
Severance charge reversal		2,000
Operating Segments | Electric Utilities and Infrastructure
Segment Reporting Information [Line Items]
Operating revenues	5,335	5,034	10,616	10,217
Segment income (loss)	935	753	1,755	1,458
Segment assets	140,591		140,591
Operating Segments | Electric Utilities and Infrastructure | Duke Energy Ohio [Member]
Segment Reporting Information [Line Items]
Operating revenues	343	330	706	676
Segment income (loss)	24	44	74	74
Segment assets	6,645		6,645
Operating Segments | Gas Utilities and Infrastructure
Segment Reporting Information [Line Items]
Operating revenues	327	289	1,102	953
Segment income (loss)	17	(1,576)	262	(1,327)
Segment assets	14,321		14,321
Equity in earnings (losses) of unconsolidated affiliates				(2,000)
Operating Segments | Gas Utilities and Infrastructure | Duke Energy Ohio [Member]
Segment Reporting Information [Line Items]
Operating revenues	113	93	282	245
Segment income (loss)	23	23	66	59
Segment assets	3,668		3,668
Operating Segments | Commercial Renewables
Segment Reporting Information [Line Items]
Operating revenues	119	123	238	252
Segment income (loss)	47	90	74	147
Segment assets	6,956		6,956
Operating Segments | Commercial Renewables | Texas Storm Uri
Segment Reporting Information [Line Items]
Net Income (Loss)			12
Nonregulated electric and other			8
Incurred costs			2
Equity in earnings (losses) of unconsolidated affiliates			(29)
Income before taxes			(35)
Operating Segments | Total Reportable Segments
Segment Reporting Information [Line Items]
Operating revenues	5,781	5,446	11,956	11,422
Segment income (loss)	999	(733)	2,091	278
Segment assets	161,868		161,868
Operating Segments | Total Reportable Segments | Duke Energy Ohio [Member]
Segment Reporting Information [Line Items]
Operating revenues	456	423	988	921
Segment income (loss)	47	67	140	133
Segment assets	10,313		10,313
Other
Segment Reporting Information [Line Items]
Income before taxes				98
Other | Other
Segment Reporting Information [Line Items]
Operating revenues	27	26	53	49
Segment income (loss)	(248)	(84)	(387)	(196)
Segment assets	3,524		3,524
Other | Other | Duke Energy Ohio [Member]
Segment Reporting Information [Line Items]
Segment income (loss)	(8)	(1)	(10)	(2)
Segment assets	28		28
Eliminations
Segment Reporting Information [Line Items]
Operating revenues	(50)	(51)	(101)	(101)
Segment assets	(7)		(7)
Eliminations | Duke Energy Ohio [Member]
Segment Reporting Information [Line Items]
Segment assets	(19)		(19)
Eliminations | Electric Utilities and Infrastructure
Segment Reporting Information [Line Items]
Operating revenues	7	8	15	17
Eliminations | Gas Utilities and Infrastructure
Segment Reporting Information [Line Items]
Operating revenues	22	24	45	48
Eliminations | Total Reportable Segments
Segment Reporting Information [Line Items]
Operating revenues	29	32	60	65
Eliminations | Other
Segment Reporting Information [Line Items]
Operating revenues	$ 21	$ 19	$ 41	$ 36

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Regulatory Matters (Duke Energy Carolinas and Duke Energy Progress) (Details) - USD ($) $ in Millions			3 Months Ended			6 Months Ended
	Jan. 27, 2021	Jan. 22, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Public Utilities, General Disclosures [Line Items]
Impairment of assets and other charges			$ 131		$ 6	$ 131	$ 8
Duke Energy Carolinas
Public Utilities, General Disclosures [Line Items]
Impairment of assets and other charges			75			75	$ 2
Duke Energy Carolinas | 20-year storm recovery bond
Public Utilities, General Disclosures [Line Items]
Facility term	20 years
Duke Energy Progress
Public Utilities, General Disclosures [Line Items]
Impairment of assets and other charges			$ 18			$ 18
Duke Energy Progress | 20-year storm recovery bond
Public Utilities, General Disclosures [Line Items]
Facility term	20 years
CCR Settlement Agreement | Duke Energy Carolinas and Duke Energy Progress
Public Utilities, General Disclosures [Line Items]
Recovery costs not sought		$ 1,000
Recovery costs amortization period		5 years
Equity return on deferred coal ash cost future cases		1.50%
CCR Settlement Agreement | Duke Energy Carolinas and Duke Energy Progress | NCUC
Public Utilities, General Disclosures [Line Items]
Public utilities, requested equity capital structure, percentage		48.00%
Public utilities, requested debt capital structure, percentage		52.00%
CCR Settlement Agreement | Duke Energy Carolinas
Public Utilities, General Disclosures [Line Items]
Impairment of assets and other charges				$ 454
Reversal of regulated electric operating revenues				50
CCR Settlement Agreement | Duke Energy Progress
Public Utilities, General Disclosures [Line Items]
Impairment of assets and other charges				494
Reversal of regulated electric operating revenues				$ 102
2020 North Carolina Storm Securitization Filings | Duke Energy Carolinas | NCUC | Storm costs
Public Utilities, General Disclosures [Line Items]
Regulatory assets	$ 287
2020 North Carolina Storm Securitization Filings | Duke Energy Progress | NCUC | Storm costs
Public Utilities, General Disclosures [Line Items]
Regulatory assets	$ 920

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Regulatory Matters (Regulatory Matters Narrative - Duke Energy Carolinas) (Details) - Duke Energy Carolinas - USD ($) $ in Millions	May 21, 2021	Mar. 31, 2021	Sep. 30, 2019	May 21, 2019	Nov. 08, 2018	Feb. 28, 2018	Aug. 25, 2017
NCUC | 2017 North Carolina Rate Case
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount							$ 647
Requested return on equity, percent						9.90%
Public utilities, requested equity capital structure, percentage						52.00%
Public utilities, requested debt capital structure, percentage						48.00%
NCUC | 2019 North Carolina Rate Case
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount			$ 291
Requested rate increase, percentage			6.00%
Requested rate increase (decrease), gross amount			$ 445
Requested rate increase (decrease), rider reduction			$ 154
NCUC | 2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage		9.60%
Public utilities, approved equity capital structure, percentage		52.00%
Public utilities, approved debt capital structure, percentage		48.00%
Approved rate increase, amount	$ 33
PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount					$ 168
Approved return on equity percentage				9.50%
Public utilities, approved equity capital structure, percentage				53.00%
Public utilities, approved debt capital structure, percentage				47.00%
Change in tax rate, deferred tax liability, income tax benefit				$ 66
Measurement period adjustment, income tax expense (benefit)				$ 45
PSCSC | South Carolina Rate Case 2018 | North Carolina Department of Revenue | State and local jurisdiction
Public Utilities, General Disclosures [Line Items]
Regulatory asset, amortization period				5 years
State and local taxes reduction amount				$ 17
Grid Improvement | NCUC | 2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement
Public Utilities, General Disclosures [Line Items]
Regulatory assets		$ 800
Storm costs | NCUC | 2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement
Public Utilities, General Disclosures [Line Items]
Regulatory assets		$ 213
Deferred project costs | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory assets				$ 125
Regulatory asset, amortization period				12 years
Asset retirement obligations - coal ash | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory assets				$ 96
Regulatory asset, amortization period				5 years
Recovery costs denied				$ 115
Asset retirement obligations - unprotected EDIT, Property, Plant and Equipment | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory asset, amortization period				20 years
Asset retirement obligations - unprotected EDIT | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory asset, amortization period				5 years
Asset retirement obligations - deferred revenue | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory asset, amortization period				5 years

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Regulatory Matters (Regulatory Matters Narrative - Duke Energy Progress) (Details) - Duke Energy Progress $ in Millions	May 21, 2021 USD ($)	Apr. 16, 2021 USD ($)	Oct. 16, 2020	Oct. 30, 2019 USD ($)	Oct. 11, 2019	May 21, 2019 USD ($)	Nov. 08, 2018 USD ($)	Nov. 22, 2017	Jun. 01, 2017 USD ($)	Jul. 27, 2020 MW
Western Carolinas Modernization Plan
Public Utilities, General Disclosures [Line Items]
Generation capacity (MW) | MW										5
NCUC | 2017 North Carolina Rate Case
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount									$ 477
Requested rate increase (decrease), amended amount									$ 420
Requested return on equity, percent								9.90%
Public utilities, requested equity capital structure, percentage								52.00%
Public utilities, requested debt capital structure, percentage								48.00%
NCUC | 2019 North Carolina Rate Case
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount				$ 464
Requested rate increase, percentage				12.30%
Requested rate increase (decrease), gross amount				$ 586
Rider reduction				122
Requested rate increase (decrease), rider reduction				$ 120
Approved rate increase, amount	$ 178
NCUC | 2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage		9.60%
Public utilities, approved equity capital structure, percentage		52.00%
Public utilities, approved debt capital structure, percentage		48.00%
PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount							$ 59
Approved return on equity percentage						9.50%
Public utilities, approved equity capital structure, percentage						53.00%
Public utilities, approved debt capital structure, percentage						47.00%
Change in tax rate, deferred tax liability, income tax benefit						$ 17
Measurement period adjustment, income tax expense (benefit)						12
FERC | FERC Return on Equity Complaint, NCEMPA
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage					11.00%
FERC | FERC Return on Equity Complaint, NCEMC
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage			11.00%
State and local jurisdiction | North Carolina Department of Revenue | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
State and local taxes increase amount						12
Grid Improvement | NCUC | 2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement
Public Utilities, General Disclosures [Line Items]
Regulatory assets		$ 400
Storm costs | NCUC | 2019 North Carolina Rate Case, additional Agreement and Stipulation of Partial Settlement
Public Utilities, General Disclosures [Line Items]
Regulatory assets		$ 714
Asset retirement obligations - coal ash | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory assets						$ 4
Regulatory asset, amortization period						5 years
Recovery costs denied						$ 65
Asset retirement obligations - unprotected EDIT, Property, Plant and Equipment | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory asset, amortization period						20 years
Asset retirement obligations - unprotected EDIT | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory asset, amortization period						5 years
Asset retirement obligations - deferred revenue | PSCSC | South Carolina Rate Case 2018
Public Utilities, General Disclosures [Line Items]
Regulatory asset, amortization period						3 years

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Regulatory Matters (Regulatory Matters Narrative - Duke Energy Florida) (Details) - Duke Energy Florida			12 Months Ended
	May 04, 2021 USD ($)	Jul. 01, 2020 USD ($) plant MW	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	May 19, 2020 USD ($)	Dec. 19, 2019 USD ($)	Nov. 22, 2019 USD ($)	Apr. 30, 2019 USD ($)
FPSC
Public Utilities, General Disclosures [Line Items]
Number of solar plants | plant		10
Generation capacity (MW) | MW		750
2021 Settlement | FPSC
Public Utilities, General Disclosures [Line Items]
Public utilities, approved equity capital structure, percentage	53.00%
Public utilities, approved debt capital structure, percentage	47.00%
Public utilities, basis points, increase, percentage	0.25%
Contract with customer, asset, after allowance for credit loss, noncurrent	$ 173,000,000
Future investment in infrastructure	$ 1,000,000,000
2021 Settlement | FPSC | US Treasury Securities
Public Utilities, General Disclosures [Line Items]
Public utilities, basis points, increase, percentage	0.50%
2021 Settlement | FPSC | Minimum
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage	8.85%
2021 Settlement | FPSC | Minimum | US Treasury Securities
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage	9.85%
2021 Settlement | FPSC | Maximum
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage	10.85%
2021 Settlement | FPSC | Maximum | US Treasury Securities
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage	10.10%
2021 Settlement | FPSC | Weighted Average
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage	9.85%
2021 Settlement | FPSC | Subsequent event
Public Utilities, General Disclosures [Line Items]
Approved rate increase, amount			$ 79,000,000	$ 49,000,000	$ 67,000,000
Hurricane Michael storm damage
Public Utilities, General Disclosures [Line Items]
Estimated storm costs - capital and operation maintenance						$ 80,000,000		$ 3,000,000
Hurricane Michael storm damage | FPSC
Public Utilities, General Disclosures [Line Items]
Estimated storm costs - capital and operation maintenance												$ 223,000,000
Amount of recovery costs sought									$ 188,000,000		$ 191,000,000
Requested supplemental true-up									$ 3,000,000
Hurricane Dorian storm damage | FPSC
Public Utilities, General Disclosures [Line Items]
Estimated storm costs - capital and operation maintenance										$ 169,000,000
Actual storm costs - capital and operation maintenance							$ 145,000,000
Solar Project
Public Utilities, General Disclosures [Line Items]
Estimated cost of facilities		$ 1,000,000,000
Estimated cost of facilities period		4 years

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Regulatory Matters (Regulatory Matters Narrative - Duke Energy Ohio) (Details) $ in Millions		6 Months Ended
	Jun. 01, 2021 USD ($)	Jun. 30, 2021 USD ($) site	Nov. 18, 2020 USD ($) order	Jul. 23, 2020 USD ($)	Mar. 31, 2020 USD ($)	Jan. 01, 2020 plant	Nov. 21, 2019 condition	Jul. 12, 2019 USD ($)	Mar. 29, 2019 USD ($)	Sep. 28, 2018 USD ($)
Duke Energy Ohio
Public Utilities, General Disclosures [Line Items]
Number of nuclear generating facilities eligible for funding | plant						2
Duke Energy Ohio | Energy Efficiency Cost Recovery
Public Utilities, General Disclosures [Line Items]
Number of orders issued on application for rehearing | order			2
Shared savings cap			$ 8
Duke Energy Ohio | Natural Gas Pipeline extension | OPSB | Minimum
Public Utilities, General Disclosures [Line Items]
Estimated capital cost excluding AFUDC		$ 163
Number of conditions on construction | condition							41
Duke Energy Ohio | Natural Gas Pipeline extension | OPSB | Maximum
Public Utilities, General Disclosures [Line Items]
Estimated capital cost excluding AFUDC		$ 245
Duke Energy Ohio | MGP Cost Recovery - 2009 Through 2012 | PUCO
Public Utilities, General Disclosures [Line Items]
Number of environmental remediation sites | site		2
Regulatory assets		$ 55
Duke Energy Ohio | MGP Cost Recovery - 2013 Through 2017 | PUCO
Public Utilities, General Disclosures [Line Items]
Regulatory assets										$ 26
Duke Energy Ohio | MGP Cost Recovery - 2013 Through 2017 | PUCO | MGP Costs - regulatory disallowance
Public Utilities, General Disclosures [Line Items]
Regulatory assets										$ 12
Duke Energy Ohio | MGP Cost Recovery - 2018 | PUCO
Public Utilities, General Disclosures [Line Items]
Regulatory assets									$ 20
Duke Energy Ohio | MGP Cost Recovery - 2018 | PUCO | MGP Costs - regulatory disallowance
Public Utilities, General Disclosures [Line Items]
Regulatory assets								$ 11
Duke Energy Ohio | MGP Cost Recovery - 2019 | PUCO
Public Utilities, General Disclosures [Line Items]
Regulatory assets					$ 39
Duke Energy Ohio | MGP Cost Recovery - 2019 | PUCO | MGP Costs - regulatory disallowance
Public Utilities, General Disclosures [Line Items]
Regulatory assets				$ 4
Duke Energy Kentucky | Duke Energy Kentucky Gas Base Rate Case | KPSC
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount	$ 15
Requested rate increase, percentage	13.00%

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Regulatory Matters (Regulatory Matters Narrative - Duke Energy Indiana) (Details) - Duke Energy Indiana - IURC - Indiana rate case 2019 - USD ($) $ in Millions	Jul. 28, 2021	Jun. 29, 2020	Dec. 04, 2019	Jul. 02, 2019
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount				$ 395
Requested rate increase, percentage, net of tax			15.60%
Requested rate increase (decrease), amended amount			$ 396
Approved rate increase, amount		$ 146
Rate base		10,200
Reduction of requested rate increase		$ 200
Reduction due to depreciation methodology		50.00%
Reduction due to approved return on equity		20.00%
Requested return on equity, percent		10.40%
Reduction due to earnings adjustments		20.00%
Estimated percentage of total rate increase, step one		75.00%
Estimated percentage of total rate increase, step two		25.00%
Approved return on equity percentage		9.70%
Subsequent event
Public Utilities, General Disclosures [Line Items]
Approved return on equity percentage	9.70%
Public utilities, approved equity capital structure, percentage	54.00%

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Regulatory Matters (Regulatory Matters Narrative - Piedmont) (Details) - Piedmont - USD ($) $ in Millions					1 Months Ended
	Jul. 28, 2021	May 06, 2021	Mar. 22, 2021	Jul. 02, 2020	Dec. 31, 2020
2020 Tennessee Rate Case | TPUC
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount				$ 30	$ 26
Increase in annual revenue, percent				15.00%
Approved rate increase, amount		$ 16
Approved return on equity percentage		9.80%
2021 North Carolina Rate Case | NCUC
Public Utilities, General Disclosures [Line Items]
Increase in annual revenue, percent			10.00%
Requested rate increase (decrease), amended amount			$ 109
Plants rolled into base rate			30.00%
2021 North Carolina Rate Case | NCUC | Subsequent event
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amended amount	$ 97

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Regulatory Matters (Other Regulatory Matters) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Feb. 28, 2021	Dec. 31, 2020
Public Utilities, General Disclosures [Line Items]
Equity in losses of unconsolidated affiliates		$ (9)	$ 1,968	$ 8	$ 1,924
Other current liabilities		1,994		1,994			$ 2,936
Asset retirement obligations		691		691			718
ACP
Public Utilities, General Disclosures [Line Items]
Other current liabilities		41		41			$ 936
ACP | ACP
Public Utilities, General Disclosures [Line Items]
Equity in losses of unconsolidated affiliates	$ 2,100
Other current liabilities		33		33
Other noncurrent liabilities		69		69
ACP | ACP | Current liabilities
Public Utilities, General Disclosures [Line Items]
Guarantor obligations settled						$ 855
Asset retirement obligations		$ 102		$ 102
ACP
Public Utilities, General Disclosures [Line Items]
Joint owner ownership percentage		47.00%		47.00%

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Regulatory Matters (Schedule of Net Carrying Value Of Facilities and Megawatt Capacity) (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021 USD ($) MW	Dec. 31, 2034 asset	Dec. 31, 2020 USD ($) MW
Public Utilities, General Disclosures [Line Items]
Public utilities, property, plant and equipment, net	$ 108,641		$ 106,782
Duke Energy Carolinas
Public Utilities, General Disclosures [Line Items]
Public utilities, property, plant and equipment, net	33,604		33,187
Duke Energy Progress
Public Utilities, General Disclosures [Line Items]
Public utilities, property, plant and equipment, net	23,185		22,987
Duke Energy Florida
Public Utilities, General Disclosures [Line Items]
Public utilities, property, plant and equipment, net	17,187		16,563
Duke Energy Indiana
Public Utilities, General Disclosures [Line Items]
Public utilities, property, plant and equipment, net	$ 11,699		$ 11,721
Generation facilities to be retired
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	8,707
Public utilities, property, plant and equipment, net	$ 6,103
Generation facilities to be retired | Duke Energy Carolinas | Allen Steam Station Units 1-2
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	324
Public utilities, property, plant and equipment, net	$ 20
Generation facilities to be retired | Duke Energy Carolinas | Allen Steam Station Units 4-5
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	516
Public utilities, property, plant and equipment, net	$ 376
Generation facilities to be retired | Duke Energy Carolinas | Cliffside Unit 5
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	544
Public utilities, property, plant and equipment, net	$ 337
Generation facilities to be retired | Duke Energy Carolinas | Allen Steam Station 3
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW			270
Public utilities, property, plant and equipment, net			$ 26
Generation facilities to be retired | Duke Energy Progress | Mayo Unit 1
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	704
Public utilities, property, plant and equipment, net	$ 650
Generation facilities to be retired | Duke Energy Progress | Roxboro Units 3-4
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	1,392
Public utilities, property, plant and equipment, net	$ 474
Generation facilities to be retired | Duke Energy Florida | Crystal River Units 4-5
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	1,410
Public utilities, property, plant and equipment, net	$ 1,670
Generation facilities to be retired | Duke Energy Florida | Crystal River Units 4 and 5 | Forecast
Public Utilities, General Disclosures [Line Items]
Facilities retiring ahead of schedule | asset		2
Facilities retiring ahead of schedule, years ahead		8 years
Generation facilities to be retired | Duke Energy Indiana | Gibson Units 1-5
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	2,822
Public utilities, property, plant and equipment, net	$ 1,840
Generation facilities to be retired | Duke Energy Indiana | Cayuga Units 1-2
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW	995
Public utilities, property, plant and equipment, net	$ 736
Generation facilities to be retired | Duke Energy Indiana | Gallagher Units 2 and 4
Public Utilities, General Disclosures [Line Items]
Capacity (in MW) | MW			280
Public utilities, property, plant and equipment, net			$ 102

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Commitments and Contingencies (Schedule of Environmental Loss Contingencies) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Environmental Matters Details [Line Items]
Reserves for Environmental Remediation	$ 74	$ 75
Environmental exit costs, reasonably possible additional loss	20
Duke Energy Carolinas
Environmental Matters Details [Line Items]
Reserves for Environmental Remediation	20	19
Environmental exit costs, reasonably possible additional loss	12
Progress Energy
Environmental Matters Details [Line Items]
Reserves for Environmental Remediation	18	19
Duke Energy Progress
Environmental Matters Details [Line Items]
Reserves for Environmental Remediation	6	6
Duke Energy Florida
Environmental Matters Details [Line Items]
Reserves for Environmental Remediation	12	12
Duke Energy Ohio
Environmental Matters Details [Line Items]
Reserves for Environmental Remediation	21	22
Environmental exit costs, reasonably possible additional loss	4
Duke Energy Indiana
Environmental Matters Details [Line Items]
Reserves for Environmental Remediation	5	6
Piedmont
Environmental Matters Details [Line Items]
Reserves for Environmental Remediation	$ 11	$ 10

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Commitments and Contingencies (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($) case claim plant	Dec. 31, 2020 USD ($)
Texas Storm Uri Tort Litigation
Loss Contingencies [Line Items]
Number of state court actions filed | case	24
Number of pending federal court cases | case	1
Coal Ash Insurance Coverage Litigation
Loss Contingencies [Line Items]
Number of NC and SC Plants with Ash Basins | plant	15
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims
Loss Contingencies [Line Items]
Asbestos-related injuries and damages reserves	$ 555	$ 572
Reinsurance retention policy, excess retention, amount reinsured	714
Probable insurance recoveries	$ 704	704
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims | Non-malignant cases
Loss Contingencies [Line Items]
Loss contingency, pending claims, number | claim	84
Asbestos-related injuries and damages reserves	$ 18
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims | Malignant cases
Loss Contingencies [Line Items]
Loss contingency, pending claims, number | claim	55
Asbestos-related injuries and damages reserves	$ 20
Duke Energy and Duke Energy Carolinas | ASU 2016-13
Loss Contingencies [Line Items]
Reserve for credit losses for insurance receivables	$ 15	$ 15

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Commitments and Contingencies (Narrative 2) (Details) - Spent Nuclear Fuel Matters $ in Millions	Jun. 18, 2018 USD ($)
Duke Energy Progress
Gain Contingencies [Line Items]
Gain contingency, unrecorded amount	$ 100
Duke Energy Florida
Gain Contingencies [Line Items]
Gain contingency, unrecorded amount	$ 200

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Commitments and Contingencies (Schedule of Legal Reserves) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Reserves for legal matters	$ 65	$ 68
Duke Energy Carolinas
Loss Contingencies [Line Items]
Reserves for legal matters	2	2
Progress Energy
Loss Contingencies [Line Items]
Reserves for legal matters	58	61
Duke Energy Progress
Loss Contingencies [Line Items]
Reserves for legal matters	12	13
Duke Energy Florida
Loss Contingencies [Line Items]
Reserves for legal matters	26	28
Piedmont
Loss Contingencies [Line Items]
Reserves for legal matters	$ 1	$ 1

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Debt and Credit Facilities (Summary of Debt Issuances) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Debt issuances	$ 4,350,000,000
Repayments of long-term debt	2,002,000,000	$ 1,951,000,000
Duke Energy (Parent)
Debt Instrument [Line Items]
Debt issuances	3,000,000,000
Repayments of long-term debt	1,750,000,000
Duke Energy Carolinas
Debt Instrument [Line Items]
Debt issuances	1,000,000,000
Repayments of long-term debt	614,000,000	$ 454,000,000
Piedmont
Debt Instrument [Line Items]
Debt issuances	350,000,000
Repayments of long-term debt	160,000,000
Unsecured Debt
Debt Instrument [Line Items]
Repayments of long-term debt	$ 160,000,000
Unsecured Debt | March 2021 Notes Due March 2031
Debt Instrument [Line Items]
Interest Rate	2.50%
Debt issuances	$ 350,000,000
Unsecured Debt | June 2021 Notes Due June 2023
Debt Instrument [Line Items]
Interest Rate	2.50%
Debt issuances	$ 500,000,000
Unsecured Debt | June 2021 Notes Due June 2031
Debt Instrument [Line Items]
Interest Rate	2.55%
Debt issuances	$ 1,000,000,000
Unsecured Debt | June 2021 Notes Due June 2041
Debt Instrument [Line Items]
Interest Rate	3.30%
Debt issuances	$ 750,000,000
Unsecured Debt | June 2021 Notes Due June 2051
Debt Instrument [Line Items]
Interest Rate	3.50%
Debt issuances	$ 750,000,000
Unsecured Debt | Duke Energy (Parent) | June 2021 Notes Due June 2023
Debt Instrument [Line Items]
Debt issuances	500,000,000
Unsecured Debt | Duke Energy (Parent) | June 2021 Notes Due June 2031
Debt Instrument [Line Items]
Debt issuances	1,000,000,000
Unsecured Debt | Duke Energy (Parent) | June 2021 Notes Due June 2041
Debt Instrument [Line Items]
Debt issuances	750,000,000
Unsecured Debt | Duke Energy (Parent) | June 2021 Notes Due June 2051
Debt Instrument [Line Items]
Debt issuances	750,000,000
Unsecured Debt | Piedmont | March 2021 Notes Due March 2031
Debt Instrument [Line Items]
Debt issuances	$ 350,000,000
First Mortgage Bonds | April 2021 Notes Due April 2031
Debt Instrument [Line Items]
Interest Rate	2.55%
Debt issuances	$ 550,000,000
First Mortgage Bonds | April 2021 Notes Due April 2051
Debt Instrument [Line Items]
Interest Rate	3.45%
Debt issuances	$ 450,000,000
First Mortgage Bonds | Duke Energy Carolinas | April 2021 Notes Due April 2031
Debt Instrument [Line Items]
Debt issuances	550,000,000
First Mortgage Bonds | Duke Energy Carolinas | April 2021 Notes Due April 2051
Debt Instrument [Line Items]
Debt issuances	450,000,000
First Mortgage Bonds | Duke Energy Carolinas | Bonds maturing June 2021, 3.900% interest rate
Debt Instrument [Line Items]
Repayments of long-term debt	$ 500,000,000

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Debt and Credit Facilities (Summary of Current Maturities of Long-term Debt) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Current maturities of long-term debt	$ 4,976	$ 4,238
Other debt securities
Debt Instrument [Line Items]
Current maturities of long-term debt	$ 473
Duke Energy (Parent) | Debt Maturing September 2021, 1.800% interest rate | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	1.80%
Current maturities of long-term debt	$ 750
Duke Energy (Parent) | Debt Maturing March 2022, 3.227% interest rate | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	3.227%
Current maturities of long-term debt	$ 300
Duke Energy (Parent) | Debt Maturing March 2022, 0.827%, floating interest rate | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	0.775%
Current maturities of long-term debt	$ 300
Duke Energy Florida
Debt Instrument [Line Items]
Current maturities of long-term debt	$ 575	823
Duke Energy Florida | Debt Maturing November 2021, 0.441%, floating interest rate | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	0.391%
Current maturities of long-term debt	$ 200
Duke Energy Florida | Bonds Maturing August 2021, 3.100% interest rate | First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	3.10%
Current maturities of long-term debt	$ 300
Duke Energy Progress
Debt Instrument [Line Items]
Current maturities of long-term debt	$ 1,806	603
Duke Energy Progress | Debt Maturing February 2022, 0.369%, floating interest rate | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	0.335%
Current maturities of long-term debt	$ 700
Duke Energy Progress | Debt Maturing September 2021, 3.000% interest rate | First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	3.00%
Current maturities of long-term debt	$ 500
Duke Energy Progress | Debt Maturing September 2021, 8.625% interest rate | First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	8.625%
Current maturities of long-term debt	$ 100
Duke Energy Progress | Debt Maturing May 2022, 2.800%, interest rate | First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	2.80%
Current maturities of long-term debt	$ 500
Progress Energy
Debt Instrument [Line Items]
Current maturities of long-term debt	$ 2,831	1,426
Progress Energy | Debt Maturing April 2022, 3.150% interest rate | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	3.15%
Current maturities of long-term debt	$ 450
Duke Energy Indiana
Debt Instrument [Line Items]
Current maturities of long-term debt	$ 123	70
Duke Energy Indiana | Debt Maturing January 2022, 8.850% interest rate | First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	8.85%
Current maturities of long-term debt	$ 53
Duke Energy Carolinas
Debt Instrument [Line Items]
Current maturities of long-term debt	$ 356	$ 506
Duke Energy Carolinas | Debt Maturing May 2022, 3.350% interest rate | First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	3.35%
Current maturities of long-term debt	$ 350

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Debt and Credit Facilities (Narrative) (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2021
Master Credit Facility
Debt Instrument [Line Items]
Facility size	$ 8,000,000,000	$ 8,000,000,000

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Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - Master Credit Facility - USD ($)	Jun. 30, 2021	Mar. 31, 2021
Line of Credit Facility [Line Items]
Facility size	$ 8,000,000,000	$ 8,000,000,000
Commercial paper	(2,747,000,000)
Outstanding letters of credit	(31,000,000)
Tax-exempt bonds	(81,000,000)
Available capacity under the Master Credit Facility	5,141,000,000
Duke Energy Carolinas
Line of Credit Facility [Line Items]
Facility size	1,325,000,000
Commercial paper	(767,000,000)
Outstanding letters of credit	(4,000,000)
Available capacity under the Master Credit Facility	554,000,000
Duke Energy Progress
Line of Credit Facility [Line Items]
Facility size	1,150,000,000
Commercial paper	(418,000,000)
Outstanding letters of credit	(2,000,000)
Available capacity under the Master Credit Facility	730,000,000
Duke Energy Florida
Line of Credit Facility [Line Items]
Facility size	850,000,000
Commercial paper	(360,000,000)
Available capacity under the Master Credit Facility	490,000,000
Duke Energy Ohio
Line of Credit Facility [Line Items]
Facility size	725,000,000
Commercial paper	(411,000,000)
Available capacity under the Master Credit Facility	314,000,000
Duke Energy Indiana
Line of Credit Facility [Line Items]
Facility size	600,000,000
Commercial paper	(150,000,000)
Tax-exempt bonds	(81,000,000)
Available capacity under the Master Credit Facility	369,000,000
Piedmont
Line of Credit Facility [Line Items]
Facility size	700,000,000
Commercial paper	(92,000,000)
Available capacity under the Master Credit Facility	608,000,000
Duke Energy (Parent) | Proceeds loaned to subsidiary registrants
Line of Credit Facility [Line Items]
Commercial paper	(625,000,000)
Duke Energy (Parent) | Duke Energy (Parent)
Line of Credit Facility [Line Items]
Facility size	2,650,000,000
Commercial paper	(549,000,000)
Outstanding letters of credit	(25,000,000)
Available capacity under the Master Credit Facility	$ 2,076,000,000

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Debt and Credit Facilities (Schedule of Other Credit Facilities) (Details) - Master Credit Facility - USD ($)	6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Line of Credit Facility [Line Items]
Facility size	$ 8,000,000,000	$ 8,000,000,000
Duke Energy (Parent) Three-Year Revolving Credit Facility | Duke Energy (Parent)
Line of Credit Facility [Line Items]
Facility size	1,000,000,000
Amount drawn	$ 500,000,000
Facility term	3 years

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Goodwill (Rollforward of Goodwill) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill balance	$ 19,425	$ 19,425
Accumulated impairment charges	(122)	(122)
Goodwill, adjusted for accumulated impairment charges	19,303	19,303
Electric Utilities and Infrastructure
Goodwill [Line Items]
Goodwill balance	17,379	17,379
Goodwill, adjusted for accumulated impairment charges	17,379	17,379
Gas Utilities and Infrastructure
Goodwill [Line Items]
Goodwill balance	1,924	1,924
Goodwill, adjusted for accumulated impairment charges	1,924	1,924
Commercial Renewables
Goodwill [Line Items]
Goodwill balance	122	122
Accumulated impairment charges	$ (122)	$ (122)

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Goodwill (Narrative) (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 19,303,000,000	$ 19,303,000,000
Accumulated impairment charges	122,000,000	122,000,000
Electric Utilities and Infrastructure
Goodwill [Line Items]
Goodwill	17,379,000,000	17,379,000,000
Gas Utilities and Infrastructure
Goodwill [Line Items]
Goodwill	1,924,000,000	1,924,000,000
Duke Energy Ohio
Goodwill [Line Items]
Goodwill	920,000,000	920,000,000
Accumulated impairment charges	216,000,000	216,000,000
Duke Energy Ohio | Electric Utilities and Infrastructure
Goodwill [Line Items]
Goodwill	596,000,000	596,000,000
Duke Energy Ohio | Gas Utilities and Infrastructure
Goodwill [Line Items]
Goodwill	324,000,000	324,000,000
Progress Energy
Goodwill [Line Items]
Goodwill	3,655,000,000	3,655,000,000
Progress Energy | Electric Utilities and Infrastructure
Goodwill [Line Items]
Accumulated impairment charges	0	0
Piedmont
Goodwill [Line Items]
Goodwill	49,000,000	49,000,000
Piedmont | Gas Utilities and Infrastructure
Goodwill [Line Items]
Accumulated impairment charges	$ 0	$ 0

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Related Party Transactions (Other Revenue and Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Duke Energy Carolinas | Corporate governance and shared service expenses | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 243	$ 196	$ 446	$ 330
Duke Energy Carolinas | Indemnification coverages | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	6	5	12	10
Duke Energy Carolinas | JDA | Duke Energy Progress
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	25	20	65	44
Related party transaction, other revenues from transactions with related party	13	3	26	10
Duke Energy Carolinas | Intercompany natural gas purchases and sales | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	15	10	29	16
Progress Energy | Corporate governance and shared service expenses | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	233	189	414	335
Progress Energy | Indemnification coverages | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	11	9	21	18
Progress Energy | JDA | Duke Energy Carolinas
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	13	3	26	10
Related party transaction, other revenues from transactions with related party	25	20	65	44
Progress Energy | Intercompany natural gas purchases and sales | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	18	19	37	38
Duke Energy Progress | Corporate governance and shared service expenses | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	141	113	246	188
Duke Energy Progress | Indemnification coverages | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	5	5	10	9
Duke Energy Progress | JDA | Duke Energy Carolinas
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	13	3	26	10
Related party transaction, other revenues from transactions with related party	25	20	65	44
Duke Energy Progress | Intercompany natural gas purchases and sales | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	18	19	37	38
Duke Energy Florida | Corporate governance and shared service expenses | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	92	76	168	147
Duke Energy Florida | Indemnification coverages | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	6	4	11	9
Duke Energy Ohio | Corporate governance and shared service expenses | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	79	77	158	161
Duke Energy Ohio | Indemnification coverages | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	1	1	2	2
Duke Energy Indiana | Corporate governance and shared service expenses | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	93	92	206	198
Duke Energy Indiana | Indemnification coverages | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	2	2	4	4
Piedmont | Corporate governance and shared service expenses | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	36	37	69	71
Piedmont | Indemnification coverages | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	1		2	1
Piedmont | Intercompany natural gas purchases and sales | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, other revenues from transactions with related party	33	29	66	54
Piedmont | Natural gas storage and transportation costs | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 5	$ 6	$ 11	$ 12

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Related Party Transactions (Intercompany Income Taxes) (Details) - Affiliated Entity - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Duke Energy Carolinas
Related Party Transaction [Line Items]
Intercompany income tax payable	$ 36	$ 31
Progress Energy
Related Party Transaction [Line Items]
Intercompany income tax receivable	74
Intercompany income tax payable		33
Duke Energy Progress
Related Party Transaction [Line Items]
Intercompany income tax payable	4	46
Duke Energy Florida
Related Party Transaction [Line Items]
Intercompany income tax receivable	1
Intercompany income tax payable		35
Duke Energy Ohio
Related Party Transaction [Line Items]
Intercompany income tax payable	6	2
Duke Energy Indiana
Related Party Transaction [Line Items]
Intercompany income tax receivable		9
Intercompany income tax payable	7
Piedmont
Related Party Transaction [Line Items]
Intercompany income tax receivable	$ 22	$ 10

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Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details) Mcf in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021 USD ($) GWh Mcf	Dec. 31, 2020 USD ($) GWh Mcf
Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 3,025	$ 1,809
Commodity contracts | Cash flow hedges
Derivative [Line Items]
Notional amount, energy measure (in gigawatt-hours) | GWh	10,427	22,048
Commodity contracts | Electricity (GWh)(a)
Derivative [Line Items]
Notional amount, energy measure (in gigawatt-hours) | GWh	34,427	35,409
Commodity contracts | Natural gas (millions of dekatherms)
Derivative [Line Items]
Notional amount, volume (in millions of dekatherms) | Mcf	744	678
Designated contracts | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 1,344	$ 632
Designated contracts | Interest Rate Contracts | VIE primary beneficiary
Derivative [Line Items]
Notional amount	594	632
Undesignated contracts | Interest Rate Contracts
Derivative [Line Items]
Notional amount	1,681	1,177
Undesignated contracts | Interest Rate Contracts | VIE primary beneficiary
Derivative [Line Items]
Notional amount	54
Duke Energy Carolinas | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 350	$ 400
Duke Energy Carolinas | Commodity contracts | Natural gas (millions of dekatherms)
Derivative [Line Items]
Notional amount, volume (in millions of dekatherms) | Mcf	206	145
Duke Energy Carolinas | Undesignated contracts | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 350	$ 400
Progress Energy | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 1,250	$ 750
Progress Energy | Commodity contracts | Natural gas (millions of dekatherms)
Derivative [Line Items]
Notional amount, volume (in millions of dekatherms) | Mcf	180	158
Progress Energy | Undesignated contracts | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 1,250	$ 750
Duke Energy Progress | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 750	$ 750
Duke Energy Progress | Commodity contracts | Natural gas (millions of dekatherms)
Derivative [Line Items]
Notional amount, volume (in millions of dekatherms) | Mcf	180	158
Duke Energy Progress | Undesignated contracts | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 750	$ 750
Duke Energy Florida | Interest Rate Contracts
Derivative [Line Items]
Notional amount	500
Duke Energy Florida | Undesignated contracts | Interest Rate Contracts
Derivative [Line Items]
Notional amount	500
Duke Energy Ohio | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 27	$ 27
Duke Energy Ohio | Commodity contracts | Electricity (GWh)(a)
Derivative [Line Items]
Notional amount, energy measure (in gigawatt-hours) | GWh	3,727	2,559
Duke Energy Ohio | Undesignated contracts | Interest Rate Contracts
Derivative [Line Items]
Notional amount	$ 27	$ 27
Duke Energy Indiana | Commodity contracts | Electricity (GWh)(a)
Derivative [Line Items]
Notional amount, energy measure (in gigawatt-hours) | GWh	20,273	10,802
Duke Energy Indiana | Commodity contracts | Natural gas (millions of dekatherms)
Derivative [Line Items]
Notional amount, volume (in millions of dekatherms) | Mcf	4	2
Piedmont | Commodity contracts | Natural gas (millions of dekatherms)
Derivative [Line Items]
Notional amount, volume (in millions of dekatherms) | Mcf	354	373

XML

Derivatives and Hedging (Location and Fair Value Amounts of Derivatives Reflected in the Condensed Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	$ 282	$ 61
Location and fair value amounts of derivatives (Liability)	423	324
Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	215	48
Noncurrent assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	67	13
Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	91	64
Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	332	260
Commodity Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	230	43
Location and fair value amounts of derivatives (Liability)	322	251
Interest Rate Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	52	18
Location and fair value amounts of derivatives (Liability)	101	73
Not Designated as Hedging Instruments | Commodity Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	163	30
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	67	13
Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	27	30
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	139	137
Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	52	18
Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	21	5
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	4	5
Designated as Hedging Instruments | Commodity Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	29	14
Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	127	70
Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	14	15
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	62	48
Duke Energy Carolinas
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	107	20
Location and fair value amounts of derivatives (Liability)	7	20
Duke Energy Carolinas | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	69	14
Duke Energy Carolinas | Noncurrent assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	38	6
Duke Energy Carolinas | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	7	17
Duke Energy Carolinas | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)		3
Duke Energy Carolinas | Commodity Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	107	20
Location and fair value amounts of derivatives (Liability)		16
Duke Energy Carolinas | Interest Rate Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	7	4
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	69	14
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	38	6
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)		13
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)		3
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	7	4
Progress Energy
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	142	33
Location and fair value amounts of derivatives (Liability)	17	29
Progress Energy | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	113	27
Progress Energy | Noncurrent assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	29	6
Progress Energy | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	13	2
Progress Energy | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	4	27
Progress Energy | Commodity Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	94	15
Location and fair value amounts of derivatives (Liability)	4	29
Progress Energy | Interest Rate Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	48	18
Location and fair value amounts of derivatives (Liability)	13
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	65	9
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	29	6
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)		2
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	4	27
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	48	18
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	13
Duke Energy Progress
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	132	33
Location and fair value amounts of derivatives (Liability)	4	14
Duke Energy Progress | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	102	27
Duke Energy Progress | Noncurrent assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	30	6
Duke Energy Progress | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)		2
Duke Energy Progress | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	4	12
Duke Energy Progress | Commodity Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	84	15
Location and fair value amounts of derivatives (Liability)	4	14
Duke Energy Progress | Interest Rate Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	48	18
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	54	9
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	30	6
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)		2
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	4	12
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	48	18
Duke Energy Florida
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	10
Location and fair value amounts of derivatives (Liability)	13
Duke Energy Florida | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	10
Duke Energy Florida | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	13
Duke Energy Florida | Commodity Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	10
Duke Energy Florida | Interest Rate Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	13
Duke Energy Florida | Not Designated as Hedging Instruments | Commodity Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	10
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	13
Duke Energy Ohio
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	3	1
Location and fair value amounts of derivatives (Liability)	5	6
Duke Energy Ohio | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	3	1
Duke Energy Ohio | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	1	1
Duke Energy Ohio | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	4	5
Duke Energy Ohio | Commodity Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	3	1
Duke Energy Ohio | Interest Rate Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	5	6
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	3	1
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	1	1
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	4	5
Duke Energy Indiana
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	24	6
Location and fair value amounts of derivatives (Liability)		1
Duke Energy Indiana | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	24	6
Duke Energy Indiana | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)		1
Duke Energy Indiana | Commodity Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	24	6
Location and fair value amounts of derivatives (Liability)		1
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	24	6
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)		1
Piedmont
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	2	1
Location and fair value amounts of derivatives (Liability)	161	122
Piedmont | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	2	1
Piedmont | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	26	15
Piedmont | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	135	107
Piedmont | Commodity Contracts
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	2	1
Location and fair value amounts of derivatives (Liability)	161	122
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current assets
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Asset)	2	1
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	26	15
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities
Derivatives, Fair Value [Line Items]
Location and fair value amounts of derivatives (Liability)	$ 135	$ 107

XML

Derivatives and Hedging (Schedule of Offsetting Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	$ 282	$ 61
Net amounts recognized on the Condensed Consolidated Balance Sheet	282	61
Current assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	215	48
Gross amounts offset	(3)	(3)
Net amounts recognized on the Condensed Consolidated Balance Sheet	212	45
Noncurrent assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	67	13
Gross amounts offset	(6)	(5)
Net amounts recognized on the Condensed Consolidated Balance Sheet	61	8
Duke Energy Carolinas
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	107	20
Net amounts recognized on the Condensed Consolidated Balance Sheet	107	20
Duke Energy Carolinas | Current assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	69	14
Gross amounts offset	(3)	(2)
Net amounts recognized on the Condensed Consolidated Balance Sheet	66	12
Duke Energy Carolinas | Noncurrent assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	38	6
Gross amounts offset	(1)	(1)
Net amounts recognized on the Condensed Consolidated Balance Sheet	37	5
Progress Energy
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	142	33
Net amounts recognized on the Condensed Consolidated Balance Sheet	142	33
Progress Energy | Current assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	113	27
Gross amounts offset		(2)
Net amounts recognized on the Condensed Consolidated Balance Sheet	113	25
Progress Energy | Noncurrent assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	29	6
Gross amounts offset	(4)	(4)
Net amounts recognized on the Condensed Consolidated Balance Sheet	25	2
Duke Energy Progress
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	132	33
Net amounts recognized on the Condensed Consolidated Balance Sheet	132	33
Duke Energy Progress | Current assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	102	27
Gross amounts offset		(2)
Net amounts recognized on the Condensed Consolidated Balance Sheet	102	25
Duke Energy Progress | Noncurrent assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	30	6
Gross amounts offset	(4)	(4)
Net amounts recognized on the Condensed Consolidated Balance Sheet	26	2
Duke Energy Florida
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	10
Net amounts recognized on the Condensed Consolidated Balance Sheet	10
Duke Energy Florida | Current assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	10
Net amounts recognized on the Condensed Consolidated Balance Sheet	10
Duke Energy Ohio
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	3	1
Duke Energy Ohio | Current assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	3	1
Net amounts recognized on the Condensed Consolidated Balance Sheet	3	1
Duke Energy Indiana
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	24	6
Net amounts recognized on the Condensed Consolidated Balance Sheet	24	6
Duke Energy Indiana | Current assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	24	6
Net amounts recognized on the Condensed Consolidated Balance Sheet	24	6
Piedmont
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	2	1
Net amounts recognized on the Condensed Consolidated Balance Sheet	2	1
Piedmont | Current assets
Offsetting Derivative Assets [Abstract]
Gross amounts recognized	2	1
Net amounts recognized on the Condensed Consolidated Balance Sheet	$ 2	$ 1

XML

Derivatives and Hedging (Schedule of Offsetting Liabilities) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	$ 423	$ 324
Net amounts recognized on the Condensed Consolidated Balance Sheet	423	324
Current liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	91	64
Gross amounts offset		(3)
Net amounts recognized on the Condensed Consolidated Balance Sheet	91	61
Noncurrent liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	332	260
Gross amounts offset	(4)	(5)
Net amounts recognized on the Condensed Consolidated Balance Sheet	328	255
Duke Energy Carolinas
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	7	20
Net amounts recognized on the Condensed Consolidated Balance Sheet	7	20
Duke Energy Carolinas | Current liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	7	17
Gross amounts offset		(2)
Net amounts recognized on the Condensed Consolidated Balance Sheet	7	15
Duke Energy Carolinas | Noncurrent liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized		3
Gross amounts offset		(1)
Net amounts recognized on the Condensed Consolidated Balance Sheet		2
Progress Energy
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	17	29
Net amounts recognized on the Condensed Consolidated Balance Sheet	17	29
Progress Energy | Current liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	13	2
Gross amounts offset		(2)
Net amounts recognized on the Condensed Consolidated Balance Sheet	13
Progress Energy | Noncurrent liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	4	27
Gross amounts offset	(4)	(4)
Net amounts recognized on the Condensed Consolidated Balance Sheet		23
Duke Energy Progress
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	4	14
Net amounts recognized on the Condensed Consolidated Balance Sheet	4	14
Duke Energy Progress | Current liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized		2
Gross amounts offset		(2)
Duke Energy Progress | Noncurrent liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	4	12
Gross amounts offset	(4)	(4)
Net amounts recognized on the Condensed Consolidated Balance Sheet		8
Duke Energy Florida
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	13
Net amounts recognized on the Condensed Consolidated Balance Sheet	13
Duke Energy Florida | Current liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	13
Net amounts recognized on the Condensed Consolidated Balance Sheet	13
Duke Energy Ohio
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	5	6
Duke Energy Ohio | Current liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	1	1
Net amounts recognized on the Condensed Consolidated Balance Sheet	1	1
Duke Energy Ohio | Noncurrent liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	4	5
Net amounts recognized on the Condensed Consolidated Balance Sheet	4	5
Duke Energy Indiana
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized		1
Net amounts recognized on the Condensed Consolidated Balance Sheet		1
Duke Energy Indiana | Current liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized		1
Net amounts recognized on the Condensed Consolidated Balance Sheet		1
Piedmont
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	161	122
Net amounts recognized on the Condensed Consolidated Balance Sheet	161	122
Piedmont | Current liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	26	15
Net amounts recognized on the Condensed Consolidated Balance Sheet	26	15
Piedmont | Noncurrent liabilities
Offsetting Derivative Liabilities [Abstract]
Gross amounts recognized	135	107
Net amounts recognized on the Condensed Consolidated Balance Sheet	$ 135	$ 107

XML

Investments in Debt and Equity Securities (Estimated Fair Value of Investments in Debt and Equity Securities) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale
Estimated Fair Value	$ 3,296
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	4,927	$ 4,387
Unrealized Holding Losses	43	55
Estimated Fair Value	10,441	9,687
Duke Energy Carolinas
Debt Securities, Available-for-sale
Estimated Fair Value	1,468
Progress Energy
Debt Securities, Available-for-sale
Estimated Fair Value	1,571
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	2,036	1,769
Unrealized Holding Losses	23	31
Estimated Fair Value	4,493	4,296
Duke Energy Progress
Debt Securities, Available-for-sale
Estimated Fair Value	1,061
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	1,940	1,687
Unrealized Holding Losses	20	31
Estimated Fair Value	3,865	3,529
Duke Energy Florida
Debt Securities, Available-for-sale
Estimated Fair Value	510
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	96	82
Unrealized Holding Losses	3
Estimated Fair Value	626	663
Duke Energy Indiana
Debt Securities, Available-for-sale
Estimated Fair Value	45
NDTF
Available-for-sale Securities
Cash and cash equivalents	153	177
Equity Securities, FV-NI
Equity Securities, FV-NI, Accumulated Unrealized Gain	4,710	4,138
Equity Securities, FV-NI, Accumulated Unrealized Loss	31	54
Equity securities, FV-NI	6,743	6,235
Debt Securities, Available-for-sale
Estimated Fair Value	3,012	2,717
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	4,820	4,295
Unrealized Holding Losses	42	55
Estimated Fair Value	9,908	9,129
NDTF | Duke Energy Carolinas
Available-for-sale Securities
Cash and cash equivalents	68	30
Equity Securities, FV-NI
Equity Securities, FV-NI, Accumulated Unrealized Gain	2,729	2,442
Equity Securities, FV-NI, Accumulated Unrealized Loss	14	23
Equity securities, FV-NI	3,910	3,685
Debt Securities, Available-for-sale
Estimated Fair Value	1,468	1,250
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	2,787	2,529
Unrealized Holding Losses	19	24
Estimated Fair Value	5,446	4,965
NDTF | Progress Energy
Available-for-sale Securities
Cash and cash equivalents	85	147
Equity Securities, FV-NI
Equity Securities, FV-NI, Accumulated Unrealized Gain	1,981	1,696
Equity Securities, FV-NI, Accumulated Unrealized Loss	17	31
Equity securities, FV-NI	2,833	2,550
Debt Securities, Available-for-sale
Estimated Fair Value	1,544	1,467
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	2,033	1,766
Unrealized Holding Losses	23	31
Estimated Fair Value	4,462	4,164
NDTF | Duke Energy Progress
Available-for-sale Securities
Cash and cash equivalents	73	76
Equity Securities, FV-NI
Equity Securities, FV-NI, Accumulated Unrealized Gain	1,888	1,617
Equity Securities, FV-NI, Accumulated Unrealized Loss	17	31
Equity securities, FV-NI	2,730	2,459
Debt Securities, Available-for-sale
Estimated Fair Value	1,061	993
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	1,940	1,687
Unrealized Holding Losses	20	31
Estimated Fair Value	3,864	3,528
NDTF | Duke Energy Florida
Available-for-sale Securities
Cash and cash equivalents	12	71
Equity Securities, FV-NI
Equity Securities, FV-NI, Accumulated Unrealized Gain	93	79
Equity securities, FV-NI	103	91
Debt Securities, Available-for-sale
Estimated Fair Value	483	474
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	93	79
Unrealized Holding Losses	3
Estimated Fair Value	598	636
Other Investments
Available-for-sale Securities
Cash and cash equivalents	83	127
Equity Securities, FV-NI
Equity Securities, FV-NI, Accumulated Unrealized Gain	98	79
Equity securities, FV-NI	166	146
Debt Securities, Available-for-sale
Estimated Fair Value	284	285
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	107	92
Unrealized Holding Losses	1
Estimated Fair Value	533	558
Other Investments | Progress Energy
Available-for-sale Securities
Cash and cash equivalents	4	106
Debt Securities, Available-for-sale
Estimated Fair Value	27	26
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	3	3
Estimated Fair Value	31	132
Other Investments | Duke Energy Progress
Available-for-sale Securities
Cash and cash equivalents	1	1
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Estimated Fair Value	1	1
Other Investments | Duke Energy Florida
Available-for-sale Securities
Cash and cash equivalents	1	1
Debt Securities, Available-for-sale
Estimated Fair Value	27	26
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	3	3
Estimated Fair Value	28	27
Other Investments | Duke Energy Indiana
Available-for-sale Securities
Cash and cash equivalents	1	1
Equity Securities, FV-NI
Equity Securities, FV-NI, Accumulated Unrealized Gain	70	58
Equity securities, FV-NI	110	97
Debt Securities, Available-for-sale
Estimated Fair Value	45	45
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]
Unrealized Holding Gains	71	59
Unrealized Holding Losses	1
Estimated Fair Value	156	143
Corporate debt securities | NDTF
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	51	76
Gross Unrealized Holding Losses	3	1
Estimated Fair Value	861	806
Corporate debt securities | NDTF | Duke Energy Carolinas
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	32	49
Gross Unrealized Holding Losses	2	1
Estimated Fair Value	495	510
Corporate debt securities | NDTF | Progress Energy
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	19	27
Gross Unrealized Holding Losses	1
Estimated Fair Value	366	296
Corporate debt securities | NDTF | Duke Energy Progress
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	19	27
Gross Unrealized Holding Losses	1
Estimated Fair Value	299	296
Corporate debt securities | NDTF | Duke Energy Florida
Debt Securities, Available-for-sale
Estimated Fair Value	67
Corporate debt securities | Other Investments
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	4	8
Estimated Fair Value	118	110
Corporate debt securities | Other Investments | Duke Energy Indiana
Debt Securities, Available-for-sale
Estimated Fair Value	4	3
Municipal bonds | NDTF
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	17	22
Estimated Fair Value	298	370
Municipal bonds | NDTF | Duke Energy Carolinas
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	2	6
Estimated Fair Value	21	91
Municipal bonds | NDTF | Progress Energy
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	15	16
Estimated Fair Value	277	279
Municipal bonds | NDTF | Duke Energy Progress
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	15	16
Estimated Fair Value	277	279
Municipal bonds | Other Investments
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	4	5
Gross Unrealized Holding Losses	1
Estimated Fair Value	69	86
Municipal bonds | Other Investments | Progress Energy
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	3	3
Estimated Fair Value	27	26
Municipal bonds | Other Investments | Duke Energy Florida
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	3	3
Estimated Fair Value	27	26
Municipal bonds | Other Investments | Duke Energy Indiana
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	1	1
Gross Unrealized Holding Losses	1
Estimated Fair Value	35	38
U.S. government bonds | NDTF
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	36	51
Gross Unrealized Holding Losses	8
Estimated Fair Value	1,665	1,361
U.S. government bonds | NDTF | Duke Energy Carolinas
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	19	25
Gross Unrealized Holding Losses	3
Estimated Fair Value	770	475
U.S. government bonds | NDTF | Progress Energy
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	17	26
Gross Unrealized Holding Losses	5
Estimated Fair Value	895	886
U.S. government bonds | NDTF | Duke Energy Progress
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	17	26
Gross Unrealized Holding Losses	2
Estimated Fair Value	479	412
U.S. government bonds | NDTF | Duke Energy Florida
Debt Securities, Available-for-sale
Gross Unrealized Holding Losses	3
Estimated Fair Value	416	474
U.S. government bonds | Other Investments
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	1
Estimated Fair Value	66	42
U.S. government bonds | Other Investments | Duke Energy Indiana
Debt Securities, Available-for-sale
Estimated Fair Value	6	4
Other debt securities | NDTF
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	6	8
Estimated Fair Value	188	180
Other debt securities | NDTF | Duke Energy Carolinas
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	5	7
Estimated Fair Value	182	174
Other debt securities | NDTF | Progress Energy
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	1	1
Estimated Fair Value	6	6
Other debt securities | NDTF | Duke Energy Progress
Debt Securities, Available-for-sale
Gross Unrealized Holding Gains	1	1
Estimated Fair Value	6	6
Other debt securities | Other Investments
Debt Securities, Available-for-sale
Estimated Fair Value	$ 31	$ 47

XML

Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
FV-NI:
Realized gains	$ 146	$ 302	$ 286	$ 325
Realized losses	37	67	60	132
AFS:
Realized gains	16	27	34	47
Realized losses	18	13	31	19
Duke Energy Carolinas
FV-NI:
Realized gains	90	27	218	36
Realized losses	23	25	39	70
AFS:
Realized gains	12	18	25	30
Realized losses	13	8	22	13
Progress Energy
FV-NI:
Realized gains	56	275	68	289
Realized losses	14	42	21	62
AFS:
Realized gains	3	6	7	11
Realized losses	3	4	6	5
Duke Energy Progress
FV-NI:
Realized gains	55	26	67	40
Realized losses	13	27	20	47
AFS:
Realized gains	3	6	7	11
Realized losses	3	4	6	5
Duke Energy Florida
FV-NI:
Realized gains	1	249	1	249
Realized losses	$ 1	$ 15	$ 1	$ 15

XML

Investments in Debt and Equity Securities (Maturities) (Details) $ in Millions	Jun. 30, 2021 USD ($)
Debt Securities, Available-for-sale [Line Items]
Due in one year or less	$ 162
Due after one through five years	1,022
Due after five through 10 years	683
Due after 10 years	1,429
Total	3,296
Duke Energy Carolinas
Debt Securities, Available-for-sale [Line Items]
Due in one year or less	10
Due after one through five years	385
Due after five through 10 years	301
Due after 10 years	772
Total	1,468
Progress Energy
Debt Securities, Available-for-sale [Line Items]
Due in one year or less	112
Due after one through five years	578
Due after five through 10 years	302
Due after 10 years	579
Total	1,571
Duke Energy Progress
Debt Securities, Available-for-sale [Line Items]
Due in one year or less	16
Due after one through five years	262
Due after five through 10 years	243
Due after 10 years	540
Total	1,061
Duke Energy Florida
Debt Securities, Available-for-sale [Line Items]
Due in one year or less	96
Due after one through five years	316
Due after five through 10 years	59
Due after 10 years	39
Total	510
Duke Energy Indiana
Debt Securities, Available-for-sale [Line Items]
Due in one year or less	4
Due after one through five years	18
Due after five through 10 years	8
Due after 10 years	15
Total	$ 45

XML

Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	$ 3,296
Derivative assets	282	$ 61
Total assets	10,723	9,748
Derivative liabilities	(423)	(324)
Net assets (liabilities)	10,300	9,424
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	4	1
Total assets	8,227	7,551
Net assets (liabilities)	8,227	7,551
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	253	53
Total assets	2,423	2,144
Derivative liabilities	(267)	(240)
Net assets (liabilities)	2,156	1,904
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	25	7
Total assets	25	7
Derivative liabilities	(156)	(84)
Net assets (liabilities)	(131)	(77)
Not Categorized
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	48	46
Net assets (liabilities)	48	46
NDTF
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	153	177
Equity securities, FV-NI	6,743	6,235
Debt securities, available-for-sale	3,012	2,717
NDTF | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	153	177
Debt securities, available-for-sale	1,066	874
NDTF | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	1,946	1,843
NDTF equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	6,743	6,235
NDTF equity securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	6,695	6,189
NDTF equity securities | Not Categorized
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	48	46
Other Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	83	127
Equity securities, FV-NI	166	146
Debt securities, available-for-sale	284	285
Other Investments | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	83	127
Equity securities, FV-NI	166	146
Debt securities, available-for-sale	60	37
Other Investments | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	224	248
Duke Energy Carolinas
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	1,468
Derivative assets	107	20
Total assets	5,553	4,985
Derivative liabilities	(7)	(20)
Net assets (liabilities)	5,546	4,965
Duke Energy Carolinas | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	4,338	3,861
Net assets (liabilities)	4,338	3,861
Duke Energy Carolinas | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	107	20
Total assets	1,167	1,078
Derivative liabilities	(7)	(20)
Net assets (liabilities)	1,160	1,058
Duke Energy Carolinas | Not Categorized
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	48	46
Net assets (liabilities)	48	46
Duke Energy Carolinas | NDTF
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	68	30
Equity securities, FV-NI	3,910	3,685
Debt securities, available-for-sale	1,468	1,250
Duke Energy Carolinas | NDTF | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	68	30
Debt securities, available-for-sale	408	192
Duke Energy Carolinas | NDTF | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	1,060	1,058
Duke Energy Carolinas | NDTF equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	3,910	3,685
Duke Energy Carolinas | NDTF equity securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	3,862	3,639
Duke Energy Carolinas | NDTF equity securities | Not Categorized
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	48	46
Progress Energy
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	1,571
Derivative assets	142	33
Total assets	4,635	4,329
Derivative liabilities	(17)	(29)
Net assets (liabilities)	4,618	4,300
Progress Energy | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	3,580	3,485
Net assets (liabilities)	3,580	3,485
Progress Energy | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	142	33
Total assets	1,055	844
Derivative liabilities	(17)	(29)
Net assets (liabilities)	1,038	815
Progress Energy | NDTF
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	85	147
Equity securities, FV-NI	2,833	2,550
Debt securities, available-for-sale	1,544	1,467
Progress Energy | NDTF | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	85	147
Debt securities, available-for-sale	658	682
Progress Energy | NDTF | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	886	785
Progress Energy | NDTF equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	2,833	2,550
Progress Energy | NDTF equity securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	2,833	2,550
Progress Energy | Other Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	4	106
Debt securities, available-for-sale	27	26
Progress Energy | Other Investments | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	4	106
Progress Energy | Other Investments | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	27	26
Duke Energy Progress
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	1,061
Derivative assets	132	33
Total assets	3,997	3,562
Derivative liabilities	(4)	(14)
Net assets (liabilities)	3,993	3,548
Duke Energy Progress | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	3,073	2,773
Net assets (liabilities)	3,073	2,773
Duke Energy Progress | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	132	33
Total assets	924	789
Derivative liabilities	(4)	(14)
Net assets (liabilities)	920	775
Duke Energy Progress | NDTF
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	73	76
Equity securities, FV-NI	2,730	2,459
Debt securities, available-for-sale	1,061	993
Duke Energy Progress | NDTF | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	73	76
Debt securities, available-for-sale	269	237
Duke Energy Progress | NDTF | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	792	756
Duke Energy Progress | NDTF equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	2,730	2,459
Duke Energy Progress | NDTF equity securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	2,730	2,459
Duke Energy Progress | Other Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1	1
Duke Energy Progress | Other Investments | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1	1
Duke Energy Florida
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	510
Derivative assets	10
Total assets	636	663
Derivative liabilities	(13)
Net assets (liabilities)	623	663
Duke Energy Florida | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	505	608
Net assets (liabilities)	505	608
Duke Energy Florida | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	10
Total assets	131	55
Derivative liabilities	(13)
Net assets (liabilities)	118	55
Duke Energy Florida | NDTF
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	12	71
Equity securities, FV-NI	103	91
Debt securities, available-for-sale	483	474
Duke Energy Florida | NDTF | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	12	71
Debt securities, available-for-sale	389	445
Duke Energy Florida | NDTF | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	94	29
Duke Energy Florida | NDTF equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	103	91
Duke Energy Florida | NDTF equity securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, FV-NI	103	91
Duke Energy Florida | Other Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1	1
Debt securities, available-for-sale	27	26
Duke Energy Florida | Other Investments | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1	1
Duke Energy Florida | Other Investments | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	27	26
Duke Energy Indiana
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	45
Derivative assets	24	6
Total assets	180	149
Derivative liabilities		(1)
Net assets (liabilities)	180	148
Duke Energy Indiana | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	2
Total assets	113	98
Derivative liabilities		(1)
Net assets (liabilities)	113	97
Duke Energy Indiana | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	45	45
Net assets (liabilities)	45	45
Duke Energy Indiana | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	22	6
Total assets	22	6
Net assets (liabilities)	22	6
Duke Energy Indiana | Other Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1	1
Equity securities, FV-NI	110	97
Debt securities, available-for-sale	45	45
Duke Energy Indiana | Other Investments | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1	1
Equity securities, FV-NI	110	97
Duke Energy Indiana | Other Investments | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	45	45
Piedmont
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	2	1
Derivative liabilities	(161)	(122)
Net assets (liabilities)	(159)	(121)
Piedmont | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	2	1
Net assets (liabilities)	2	1
Piedmont | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	(161)	(122)
Net assets (liabilities)	$ (161)	$ (122)

XML

Fair Value Measurements (Reconciliation of Assets and Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivatives (net)
Balance at beginning of period	$ (126)	$ (88)	$ (77)	$ (102)
Total pretax realized or unrealized losses included in comprehensive income	(31)		(75)
Purchases, sales, issuances and settlements:
Purchases	21	14	21	14
Settlements	(1)	(6)	(8)	(15)
Total gains (losses) included on the Condensed Consolidated Balance Sheet	6	(12)	8	11
Balance at end of period	(131)	(92)	(131)	(92)
Duke Energy Indiana
Derivatives (net)
Balance at beginning of period	2	2	6	11
Purchases, sales, issuances and settlements:
Purchases	18	10	18	10
Settlements	(3)	(4)	(9)	(10)
Total gains (losses) included on the Condensed Consolidated Balance Sheet	5	2	7	(1)
Balance at end of period	$ 22	10	$ 22	10
Piedmont
Derivatives (net)
Balance at beginning of period		(91)		(117)
Purchases, sales, issuances and settlements:
Total (losses) gains and settlements		(14)		12
Balance at end of period		$ (105)		$ (105)

XML

Fair Value Measurements (Quantitative Level 3 Fair Value Disclosures) (Details) $ in Millions	Jun. 30, 2021 USD ($) $ / MWh	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) $ / MWh	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Fair Value Measurement Inputs and Valuation Techniques
Net derivative asset (liability) | $	$ (131)	$ (126)	$ (77)	$ (92)	$ (88)	$ (102)
Electricity contracts | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques
Net derivative asset (liability) | $			$ (84)
Electricity contracts | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)			14.68
Electricity contracts | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)			151.84
Electricity contracts | Discounted cash flow | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)			28.84
Electricity contracts | RTO auction pricing
Fair Value Measurement Inputs and Valuation Techniques
Net derivative asset (liability) | $	$ (156)
Electricity contracts | RTO auction pricing | Minimum
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	16.82
Electricity contracts | RTO auction pricing | Maximum
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	174.84
Electricity contracts | RTO auction pricing | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	37.87
Duke Energy Ohio | FTRs | RTO auction pricing
Fair Value Measurement Inputs and Valuation Techniques
Net derivative asset (liability) | $	$ 3		$ 1
Duke Energy Ohio | FTRs | RTO auction pricing | Minimum
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	0		0.25
Duke Energy Ohio | FTRs | RTO auction pricing | Maximum
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	1.65		1.68
Duke Energy Ohio | FTRs | RTO auction pricing | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	0.88		0.79
Duke Energy Indiana
Fair Value Measurement Inputs and Valuation Techniques
Net derivative asset (liability) | $	$ 22	$ 2	$ 6	$ 10	$ 2	$ 11
Duke Energy Indiana | FTRs | RTO auction pricing
Fair Value Measurement Inputs and Valuation Techniques
Net derivative asset (liability) | $	$ 22		$ 6
Duke Energy Indiana | FTRs | RTO auction pricing | Minimum
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	(2.07)		(2.40)
Duke Energy Indiana | FTRs | RTO auction pricing | Maximum
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	7.38		7.41
Duke Energy Indiana | FTRs | RTO auction pricing | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques
Input measurements (in usd per MWh and usd per MMBtu)	1.12		1.05

XML

Fair Value Measurements (Other Fair Value Disclosure) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 62,386	$ 59,863
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	69,222	69,292
Piedmont Natural Gas and Progress Energy
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unamortized debt discount (premium), net	1,300	1,300
Duke Energy Carolinas | Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	12,906	12,218
Duke Energy Carolinas | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	15,011	14,917
Progress Energy | Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	19,250	19,264
Progress Energy | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	22,502	23,470
Duke Energy Progress | Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	9,277	9,258
Duke Energy Progress | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	10,405	10,862
Duke Energy Florida | Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	7,881	7,915
Duke Energy Florida | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	9,338	9,756
Duke Energy Ohio | Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	3,091	3,089
Duke Energy Ohio | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	3,531	3,650
Duke Energy Indiana | Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	4,092	4,091
Duke Energy Indiana | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	4,929	5,204
Piedmont | Book Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	2,967	2,780
Piedmont | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 3,337	$ 3,306

XML

Variable Interest Entities (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Feb. 28, 2021
Variable Interest Entities [Line Items]
Equity in earnings (losses) of unconsolidated affiliates		$ 9,000,000	$ (1,968,000,000)	$ (8,000,000)	$ (1,924,000,000)
ACP | ACP
Variable Interest Entities [Line Items]
Equity in earnings (losses) of unconsolidated affiliates	$ (2,100,000,000)
ACP | Current liabilities | ACP
Variable Interest Entities [Line Items]
Guarantor obligations settled							$ 855,000,000
VIE primary beneficiary
Variable Interest Entities [Line Items]
Variable interest entity, financial or other support, amount				$ 0		$ 0
VIE primary beneficiary | CRC
Variable Interest Entities [Line Items]
Percent of proceeds received as cash		75.00%		75.00%
Percent of proceeds received as subordinated note		25.00%		25.00%
Minimum equity balance required by Cinergy Receivables		$ 3,000,000		$ 3,000,000
VIE not primary beneficiary | ACP
Variable Interest Entities [Line Items]
Equity in earnings (losses) of unconsolidated affiliates			$ 4,414,000,000		$ 4,342,000,000
VIE not primary beneficiary | ACP
Variable Interest Entities [Line Items]
Variable interest entity ownership interest				47.00%
VIE not primary beneficiary | OVEC
Variable Interest Entities [Line Items]
Variable interest entity ownership interest				9.00%

XML

Variable Interest Entities (Schedule of Accounts Receivable Securitizations) (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entities [Line Items]
Long-Term Debt	$ 57,410,000,000	$ 55,625,000,000
Duke Energy Carolinas
Variable Interest Entities [Line Items]
Long-Term Debt	12,250,000,000	11,412,000,000
Duke Energy Progress
Variable Interest Entities [Line Items]
Long-Term Debt	7,321,000,000	8,505,000,000
Duke Energy Florida
Variable Interest Entities [Line Items]
Long-Term Debt	7,306,000,000	7,092,000,000
CRC | VIE primary beneficiary
Variable Interest Entities [Line Items]
Facility size	350,000,000
Long-Term Debt	332,000,000	350,000,000
Accounts receivable from securitization	527,000,000	547,000,000
DERF | Duke Energy Carolinas | VIE primary beneficiary
Variable Interest Entities [Line Items]
Facility size	475,000,000
Long-Term Debt	475,000,000	364,000,000
Accounts receivable from securitization	769,000,000	696,000,000
DEPR | Duke Energy Progress | VIE primary beneficiary
Variable Interest Entities [Line Items]
Facility size	350,000,000
Long-Term Debt	269,000,000	250,000,000
Accounts receivable from securitization	473,000,000	500,000,000
DEFR | Duke Energy Florida | VIE primary beneficiary
Variable Interest Entities [Line Items]
Facility size	250,000,000
Long-Term Debt	250,000,000	250,000,000
Accounts receivable from securitization	$ 445,000,000	$ 397,000,000

XML

Variable Interest Entities (Schedule of Consolidated VIEs) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entities [Line Items]
Regulatory Assets: Current	$ 1,793	$ 1,641
Current Assets: Other	722	462
Other Noncurrent Assets: Regulatory assets	12,485	12,421
Property, Plant and Equipment: Cost	158,272	155,580
Accumulated depreciation and amortization	(49,752)	(48,827)
Other Noncurrent Assets: Other	3,652	3,601
Current Liabilities: Other	1,994	2,936
Current maturities of long-term debt	4,976	4,238
Long-Term Debt	57,410	55,625
Other Noncurrent Liabilities: AROs	12,272	12,286
Other Noncurrent Liabilities: Other	1,809	1,719
Duke Energy Florida
Variable Interest Entities [Line Items]
Regulatory Assets: Current	407	265
Current Assets: Other	59	41
Other Noncurrent Assets: Regulatory assets	1,701	1,799
Property, Plant and Equipment: Cost	22,933	22,123
Accumulated depreciation and amortization	(5,746)	(5,560)
Other Noncurrent Assets: Other	342	335
Current Liabilities: Other	395	374
Current maturities of long-term debt	575	823
Long-Term Debt	7,306	7,092
Other Noncurrent Liabilities: AROs	467	514
Other Noncurrent Liabilities: Other	262	209
DEFPF | Duke Energy Florida | VIE primary beneficiary
Variable Interest Entities [Line Items]
Receivables of VIEs	6	4
Regulatory Assets: Current	54	53
Current Assets: Other	33	39
Other Noncurrent Assets: Regulatory assets	914	937
Current Liabilities: Other	9	10
Current maturities of long-term debt	55	55
Long-Term Debt	973	1,002
Commercial Renewables | VIE primary beneficiary
Variable Interest Entities [Line Items]
Current Assets: Other	323	257
Property, Plant and Equipment: Cost	6,876	6,394
Accumulated depreciation and amortization	(1,354)	(1,242)
Other Noncurrent Assets: Other	73	67
Current maturities of long-term debt	164	167
Long-Term Debt	1,497	1,569
Other Noncurrent Liabilities: AROs	155	148
Other Noncurrent Liabilities: Other	$ 352	$ 316

XML

Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entities [Line Items]
Investments in equity method unconsolidated affiliates	$ 938	$ 961
Other noncurrent assets	3,652	3,601
Total Assets	165,385	162,388
Other current liabilities	1,994	2,936
Other, noncurrent liabilities	1,809	1,719
VIE not primary beneficiary
Variable Interest Entities [Line Items]
Other current assets	17
Investments in equity method unconsolidated affiliates	490	530
Other noncurrent assets		31
Deferred tax asset	19
Total Assets	526	561
Other current liabilities	37	933
Other, noncurrent liabilities	79	18
Total liabilities	116	951
Net assets	410	(390)
Duke Energy Ohio
Variable Interest Entities [Line Items]
Other noncurrent assets	79	72
Total Assets	10,322	10,025
Other current liabilities	70	70
Other, noncurrent liabilities	96	99
Duke Energy Ohio | VIE not primary beneficiary
Variable Interest Entities [Line Items]
Receivables from affiliated companies	54	83
Total Assets	54	83
Net assets	54	83
Duke Energy Indiana
Variable Interest Entities [Line Items]
Other noncurrent assets	268	253
Total Assets	14,155	14,041
Other current liabilities	104	83
Other, noncurrent liabilities	32	30
Duke Energy Indiana | VIE not primary beneficiary
Variable Interest Entities [Line Items]
Receivables from affiliated companies	85	110
Total Assets	85	110
Net assets	85	110
Pipeline Investments | VIE not primary beneficiary
Variable Interest Entities [Line Items]
Other current assets	17
Investments in equity method unconsolidated affiliates	15
Other noncurrent assets		31
Deferred tax asset	19
Total Assets	51	31
Other current liabilities	33	928
Other, noncurrent liabilities	69	8
Total liabilities	102	936
Net assets	(51)	(905)
Commercial Renewables | VIE not primary beneficiary
Variable Interest Entities [Line Items]
Investments in equity method unconsolidated affiliates	475	530
Total Assets	475	530
Other current liabilities	4	5
Other, noncurrent liabilities	10	10
Total liabilities	14	15
Net assets	$ 461	$ 515

XML

Variable Interest Entities (Receivables Sold) (Details) - VIE not primary beneficiary - CRC - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Duke Energy Ohio
Variable Interest Entities [Line Items]
Receivables sold	$ 219	$ 270
Less: Retained interests	54	83
Net receivables sold	165	187
Duke Energy Indiana
Variable Interest Entities [Line Items]
Receivables sold	322	344
Less: Retained interests	85	110
Net receivables sold	$ 237	$ 234

XML

Variable Interest Entities (Sales and Cash Flows) (Details) - VIE not primary beneficiary - CRC - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Duke Energy Ohio
Sales
Receivables sold	$ 443	$ 429	$ 1,004	$ 966
Loss recognized on sale	2	2	5	6
Cash flows
Cash proceeds from receivables sold	433	431	1,029	990
Return received on retained interests	1		2	2
Duke Energy Indiana
Sales
Receivables sold	684	583	1,382	1,230
Loss recognized on sale	3	2	6	6
Cash flows
Cash proceeds from receivables sold	655	580	1,401	1,252
Return received on retained interests	$ 1	$ 1	$ 3	$ 3

XML

Revenue (Remaining Performance Obligations) (Details) $ in Millions	Jun. 30, 2021 USD ($)
Progress Energy
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 303
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, remaining performance obligation, amount	$ 49
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 107
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 44
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 45
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 7
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Revenue, remaining performance obligation, amount	$ 51
Duke Energy Progress
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 28
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, remaining performance obligation, amount	$ 4
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 8
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 8
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 8
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Duke Energy Florida
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 275
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, remaining performance obligation, amount	$ 45
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 99
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 36
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 37
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 7
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Revenue, remaining performance obligation, amount	$ 51
Duke Energy Indiana
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 55
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 7
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 12
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 12
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Revenue, remaining performance obligation, amount	$ 24
Piedmont
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 622
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, remaining performance obligation, amount	$ 34
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 67
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 64
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 61
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, remaining performance obligation, amount	$ 60
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Revenue, remaining performance obligation, amount	$ 336

XML

Revenue (Remaining Performance Obligations Total) (Details) $ in Millions	Jun. 30, 2021 USD ($)
Progress Energy
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 303
Duke Energy Progress
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	28
Duke Energy Florida
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	275
Duke Energy Indiana
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	55
Piedmont
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 622

XML

Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 5,667	$ 5,338	$ 11,761	$ 11,159
Revenue from sources other than contracts with customers	91	83	147	211
Total operating revenues	5,758	5,421	11,908	11,370
Electric Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	5,309	5,005	10,582	10,160
Total operating revenues	5,328	5,026	10,601	10,200
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,336	2,249	4,798	4,515
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,513	1,379	2,932	2,887
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	705	658	1,367	1,351
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	521	435	1,025	932
Electric Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	234	284	460	475
Gas Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	299	271	1,060	873
Total operating revenues	305	265	1,057	905
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	158	157	618	519
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	91	75	295	244
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	30	27	80	68
Gas Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	20	12	67	42
Commercial Renewables
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	53	55	107	113
Total operating revenues	119	123	238	252
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	6	7	12	13
Total operating revenues	6	7	12	13
Duke Energy Carolinas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,615	1,607	3,354	3,355
Revenue from sources other than contracts with customers	(5)	3	(28)	3
Total operating revenues	1,610	1,610	3,326	3,358
Duke Energy Carolinas | Electric Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,615	1,607	3,354	3,355
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	683	677	1,476	1,433
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	498	507	1,000	1,056
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	256	260	512	529
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	116	101	230	215
Duke Energy Carolinas | Electric Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	62	62	136	122
Progress Energy
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,647	2,472	5,126	4,860
Revenue from sources other than contracts with customers	32	26	58	60
Total operating revenues	2,679	2,498	5,184	4,920
Progress Energy | Electric Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,647	2,472	5,126	4,860
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,216	1,173	2,378	2,242
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	720	611	1,344	1,275
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	229	212	436	428
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	331	285	657	606
Progress Energy | Electric Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	151	191	311	309
Duke Energy Progress
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,324	1,222	2,710	2,539
Revenue from sources other than contracts with customers	25	21	40	42
Total operating revenues	1,349	1,243	2,750	2,581
Duke Energy Progress | Electric Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,324	1,222	2,710	2,539
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	478	460	1,038	962
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	330	298	636	617
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	160	154	305	308
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	285	240	577	519
Duke Energy Progress | Electric Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	71	70	154	133
Duke Energy Florida
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,323	1,250	2,416	2,321
Revenue from sources other than contracts with customers	2		10	9
Total operating revenues	1,325	1,250	2,426	2,330
Duke Energy Florida | Electric Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,323	1,250	2,416	2,321
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	738	713	1,340	1,280
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	390	313	708	658
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	69	58	131	120
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	46	45	80	87
Duke Energy Florida | Electric Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	80	121	157	176
Duke Energy Ohio
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	457	420	992	924
Revenue from sources other than contracts with customers	(1)	3	(4)	(3)
Total operating revenues	456	423	988	921
Duke Energy Ohio | Electric Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	345	329	710	681
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	171	169	366	345
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	106	103	210	217
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	33	33	64	68
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	13	5	26	12
Duke Energy Ohio | Electric Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	22	19	44	39
Duke Energy Ohio | Gas Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	112	91	282	243
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	69	62	179	159
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	27	23	75	66
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4	3	11	9
Duke Energy Ohio | Gas Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	12	3	17	9
Duke Energy Indiana
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	730	613	1,467	1,305
Revenue from sources other than contracts with customers	5	4	13	4
Total operating revenues	735	617	1,480	1,309
Duke Energy Indiana | Electric Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	730	613	1,467	1,305
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	265	231	578	496
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	190	161	379	342
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	189	152	356	327
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	63	44	113	99
Duke Energy Indiana | Electric Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	23	25	41	41
Piedmont
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	197	187	795	648
Revenue from sources other than contracts with customers	18	10	26	61
Total operating revenues	215	197	821	709
Piedmont | Gas Utilities and Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	197	187	795	648
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	88	96	439	360
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	59	52	215	178
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	27	22	70	58
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Power Generation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	24	6	46	17
Piedmont | Gas Utilities and Infrastructure | Other revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ (1)	$ 11	$ 25	$ 35

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Revenue (Reserve for Credit Losses for Trade and Other Receivables) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 147	$ 89	$ 146	$ 76
Cumulative Change in Accounting Principle	123	102	123	102
Write-Offs	(5)	(9)	(26)	(19)
Credit Loss Expense	12	15	29	33
Other Adjustments	(31)	7	(26)	7
Ending balance	123	102	123	102
Duke Energy Carolinas
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	34	11	23	10
Cumulative Change in Accounting Principle	42	14	42	14
Write-Offs	1	(3)	(7)	(6)
Credit Loss Expense	6	6	16	9
Other Adjustments	1		10
Ending balance	42	14	42	14
Progress Energy
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	37	20	37	16
Cumulative Change in Accounting Principle	36	29	36	29
Write-Offs	(4)	(3)	(14)	(7)
Credit Loss Expense	6	12	13	18
Other Adjustments	(3)
Ending balance	36	29	36	29
Duke Energy Progress
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	23	9	23	8
Cumulative Change in Accounting Principle	21	14	21	14
Write-Offs	(3)	(3)	(8)	(5)
Credit Loss Expense	4	8	6	10
Other Adjustments	(3)
Ending balance	21	14	21	14
Duke Energy Florida
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	15	11	14	7
Cumulative Change in Accounting Principle	16	14	16	14
Write-Offs	(1)		(6)	(2)
Credit Loss Expense	2	3	7	8
Other Adjustments			1
Ending balance	16	14	16	14
Duke Energy Ohio
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	4	5	4	4
Cumulative Change in Accounting Principle	4	5	4	5
Credit Loss Expense				1
Ending balance	4	5	4	5
Duke Energy Indiana
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	3	3	3	3
Cumulative Change in Accounting Principle	3	3	3	3
Ending balance	3	3	3	3
Piedmont
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	14	9	12	6
Cumulative Change in Accounting Principle	13	6	13	6
Write-Offs	(2)	(4)	(3)	(5)
Credit Loss Expense	1	1	4	4
Ending balance	$ 13	$ 6	$ 13	6
Cumulative Change in Accounting Principle
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				5
Cumulative Change in Accounting Principle
Cumulative Change in Accounting Principle | Duke Energy Carolinas
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				1
Cumulative Change in Accounting Principle
Cumulative Change in Accounting Principle | Progress Energy
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				2
Cumulative Change in Accounting Principle
Cumulative Change in Accounting Principle | Duke Energy Progress
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				1
Cumulative Change in Accounting Principle
Cumulative Change in Accounting Principle | Duke Energy Florida
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				1
Cumulative Change in Accounting Principle
Cumulative Change in Accounting Principle | Piedmont
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				$ 1
Cumulative Change in Accounting Principle

XML

Revenue (Aging of Trade Receivables) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	$ 894	$ 969
Trade and Other Receivables, not past due	1,836	1,789
Deferred Payment Arrangements	106	215
Trade and Other Receivables	3,211	3,299
30-60 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	148	185
60-90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	47	22
90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	180	119
Duke Energy Carolinas
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	324	328
Trade and Other Receivables, not past due	465	445
Deferred Payment Arrangements	46	96
Trade and Other Receivables	991	966
Duke Energy Carolinas | 30-60 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	62	80
Duke Energy Carolinas | 60-90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	20	1
Duke Energy Carolinas | 90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	74	16
Progress Energy
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	283	283
Trade and Other Receivables, not past due	781	707
Deferred Payment Arrangements	35	80
Trade and Other Receivables	1,182	1,166
Progress Energy | 30-60 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	42	54
Progress Energy | 60-90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	10	10
Progress Energy | 90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	31	32
Duke Energy Progress
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	156	167
Trade and Other Receivables, not past due	408	398
Deferred Payment Arrangements	24	52
Trade and Other Receivables	623	655
Duke Energy Progress | 30-60 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	22	25
Duke Energy Progress | 60-90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	6	4
Duke Energy Progress | 90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	7	9
Duke Energy Florida
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	127	116
Trade and Other Receivables, not past due	372	307
Deferred Payment Arrangements	11	28
Trade and Other Receivables	558	509
Duke Energy Florida | 30-60 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	20	29
Duke Energy Florida | 60-90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	4	6
Duke Energy Florida | 90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	24	23
Duke Energy Ohio
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	4	2
Trade and Other Receivables, not past due	55	60
Deferred Payment Arrangements	2
Trade and Other Receivables	100	102
Duke Energy Ohio | CRC
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	66	87
Duke Energy Ohio | 30-60 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	4	8
Duke Energy Ohio | 60-90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	3	2
Duke Energy Ohio | 90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	32	30
Duke Energy Indiana
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	30	16
Trade and Other Receivables, not past due	29	26
Trade and Other Receivables	72	58
Duke Energy Indiana | CRC
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	114	134
Duke Energy Indiana | 30-60 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	2	3
Duke Energy Indiana | 60-90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	1	1
Duke Energy Indiana | 90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	10	12
Piedmont
Financing Receivable, Past Due [Line Items]
Unbilled Receivables	5	86
Trade and Other Receivables, not past due	82	149
Deferred Payment Arrangements	7	7
Trade and Other Receivables	119	262
Piedmont | 30-60 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	8	8
Piedmont | 60-90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	5	3
Piedmont | 90 days
Financing Receivable, Past Due [Line Items]
Trade and Other Receivables	$ 12	$ 9

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Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Net income (loss) available to Duke Energy common stockholders	$ 751	$ (817)	$ 1,704	$ 82
Accumulated preferred stock dividends adjustment	(12)	(12)
Less: Impact of participating securities	1		1
Income (loss) from continuing operations available to Duke Energy common stockholders	$ 738	$ (829)	$ 1,703	$ 82
Weighted average common shares outstanding – basic (in shares)	769	735	769	734
Equity forwards (in shares)				1
Weighted average common shares outstanding – diluted (in shares)	769	735	769	735
Earnings (Loss) Per Share available to Duke Energy common stockholders
Basic (in usd per share)	$ 0.96	$ (1.13)	$ 2.21	$ 0.11
Diluted (in usd per share)	$ 0.96	$ (1.13)	$ 2.21	$ 0.11
Potentially dilutive items excluded from the calculation (in shares)	2	2	2	2
Common Stock
Earnings (Loss) Per Share available to Duke Energy common stockholders
Dividends declared per common share (in usd per share)	$ 0.965	$ 0.945	$ 1.930	$ 1.890
Preferred stock, Series A
Earnings (Loss) Per Share available to Duke Energy common stockholders
Dividends declared on preferred stock per depositary share (in usd per share)	0.359	$ 0.359	$ 0.719	0.719
Cumulative dividend rate per annum			5.75%
Liquidation preference per share (in usd per share)	25		$ 25
Preferred stock, Series B
Earnings (Loss) Per Share available to Duke Energy common stockholders
Dividends declared on preferred stock per depositary share (in usd per share)			$ 24.375	$ 24.917
Cumulative dividend rate per annum			4.875%
Liquidation preference per share (in usd per share)	$ 1,000		$ 1,000

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Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - Qualified Pension Plans - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 44	$ 42	$ 88	$ 83
Interest cost on projected benefit obligation	55	68	110	135
Expected return on plan assets	(140)	(143)	(279)	(286)
Amortization of actuarial loss	34	30	67	64
Amortization of prior service credit	(8)	(8)	(15)	(16)
Amortization of settlement charges	2	3	4	5
Net periodic pension costs	(13)	(8)	(25)	(15)
Duke Energy Carolinas
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	14	14	28	26
Interest cost on projected benefit obligation	12	15	25	31
Expected return on plan assets	(35)	(36)	(70)	(72)
Amortization of actuarial loss	8	7	15	14
Amortization of prior service credit	(2)	(2)	(4)	(4)
Amortization of settlement charges	2	1	3	2
Net periodic pension costs	(1)	(1)	(3)	(3)
Progress Energy
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	12	12	25	24
Interest cost on projected benefit obligation	18	22	35	43
Expected return on plan assets	(47)	(47)	(94)	(95)
Amortization of actuarial loss	9	9	19	20
Amortization of prior service credit		(1)	(1)	(2)
Amortization of settlement charges			1	1
Net periodic pension costs	(8)	(5)	(15)	(9)
Duke Energy Progress
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	8	8	15	14
Interest cost on projected benefit obligation	8	9	15	19
Expected return on plan assets	(21)	(22)	(42)	(44)
Amortization of actuarial loss	4	4	9	9
Amortization of prior service credit	(1)	(1)	(1)	(1)
Amortization of settlement charges	1	1	1	1
Net periodic pension costs	(1)	(1)	(3)	(2)
Duke Energy Florida
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	6	6	11	11
Interest cost on projected benefit obligation	9	11	19	23
Expected return on plan assets	(25)	(26)	(51)	(51)
Amortization of actuarial loss	5	5	10	11
Amortization of prior service credit		(1)		(1)
Net periodic pension costs	(5)	(5)	(11)	(7)
Duke Energy Ohio
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	1	2	2
Interest cost on projected benefit obligation	4	4	7	8
Expected return on plan assets	(7)	(7)	(14)	(14)
Amortization of actuarial loss	1	1	3	3
Net periodic pension costs	(1)	(1)	(2)	(1)
Duke Energy Indiana
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	3	2	5	4
Interest cost on projected benefit obligation	4	5	9	11
Expected return on plan assets	(10)	(10)	(20)	(21)
Amortization of actuarial loss	4	3	7	6
Amortization of prior service credit	(1)	(1)	(1)	(1)
Net periodic pension costs		(1)		(1)
Piedmont
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	2	2	3	3
Interest cost on projected benefit obligation	2	3	4	5
Expected return on plan assets	(5)	(6)	(10)	(11)
Amortization of actuarial loss	3	3	5	5
Amortization of prior service credit	(4)	(3)	(5)	(5)
Net periodic pension costs	$ (2)	$ (1)	$ (3)	$ (3)

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Income Taxes (Effective Tax Rates) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]
Effective tax rate	4.90%	26.20%	6.80%	98.90%
Duke Energy Carolinas
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]
Effective tax rate	0.40%	13.70%	4.30%	15.10%
Progress Energy
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]
Effective tax rate	8.30%	14.90%	10.20%	16.10%
Duke Energy Progress
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]
Effective tax rate	2.70%	13.90%	5.60%	15.70%
Duke Energy Florida
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]
Effective tax rate	19.00%	19.10%	19.10%	19.40%
Duke Energy Ohio
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]
Effective tax rate	22.00%	15.40%	16.10%	16.60%
Duke Energy Indiana
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]
Effective tax rate	15.60%	17.30%	16.70%	19.30%
Piedmont
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]
Effective tax rate	33.30%	128.60%	10.80%	5.80%