Affiliated and Related Party Transactions

3 Months Ended

Mar. 31, 2024

Related Party Transactions [Abstract]

Affiliated and Related Party Transactions

12. AFFILIATED AND RELATED PARTY TRANSACTIONS

DES, on behalf of itself and its parent company, provides the following services to DESC, which are rendered at direct or allocated cost: information systems, telecommunications, customer support, marketing and sales, human resources, corporate compliance, purchasing, financial, risk management, public affairs, legal, investor relations, gas supply and capacity management, strategic planning, general administrative and retirement benefits. Costs for these services include amounts capitalized. Amounts expensed are primarily recorded in other operations and maintenance - affiliated suppliers and other income, net in the Consolidated Statements of Comprehensive Income.

DESC transacts with affiliates for certain quantities of electricity in the ordinary course of business. DESC also enters into certain commodity derivative contracts with affiliates. DESC uses these contracts, which are principally comprised of forward commodity purchases, to manage commodity price risks associated with purchases of electricity. See Note 7 for additional information.

	Three Months Ended March 31,
(millions)	2024		2023
Direct and allocated costs from DES(1)	$	53	$	57
Operating Revenues - Electric from sales to affiliate		1		1
Operating Expenses - Other taxes from affiliate		3		3
Purchases of electricity from solar affiliates		1		2

(1)Includes capitalized expenditures of $12 million and $16 million for the three months ended March 31, 2024 and 2023, respectively.

(millions)	March 31, 2024		December 31, 2023
Payable to DES		41		18
Payable to SCANA Corporation		7		7
Payable to Public Service Company of North Carolina, Incorporated		12		13
Derivative assets with affiliates(1)		42		33

(1)Includes amounts recorded in other current assets of $2 million as of both March 31, 2024 and December 31, 2023 and amounts recorded in other deferred debits and other assets of $40 million and $31 million as of March 31, 2024 and December 31, 2023, respectively.

Borrowings from an affiliate are described in Note 5.