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Regulatory Matters (Tables) | 12 Months Ended
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Dec. 31, 2022
Public Utilities, General Disclosures [Line Items] |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.
| Duke Energy |  | Progress Energy |  |  |  |  |  |  |  |  |  |  |  |  |  |
| December 31, |  | December 31, |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in millions) | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – coal ash | $ | 3,205 |  |  | $ | 3,408 |  |  | $ | 1,429 |  |  | $ | 1,399 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – nuclear and other | 945 |  |  | 684 |  |  | 884 |  |  | 620 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred fuel and purchased power | 3,866 |  |  | 1,253 |  |  | 2,060 |  |  | 718 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension and OPEB | 2,336 |  |  | 2,017 |  |  | 759 |  |  | 725 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storm cost securitized balance, net | 940 |  |  | 991 |  |  | 720 |  |  | 759 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear asset securitized balance, net | 881 |  |  | 937 |  |  | 881 |  |  | 937 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt fair value adjustment | 829 |  |  | 884 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storm cost deferrals | 666 |  |  | 213 |  |  | 559 |  |  | 189 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge costs deferrals | 378 |  |  | 348 |  |  | 128 |  |  | 137 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Post-in-service carrying costs (PISCC) and deferred operating expenses | 342 |  |  | 356 |  |  | 42 |  |  | 47 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retired generation facilities | 316 |  |  | 357 |  |  | 243 |  |  | 265 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred asset – Lee and Harris COLA | 288 |  |  | 317 |  |  | 21 |  |  | 21 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Advanced metering infrastructure (AMI) | 283 |  |  | 311 |  |  | 111 |  |  | 130 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer connect project | 271 |  |  | 242 |  |  | 136 |  |  | 124 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of removal regulatory asset | 221 |  |  | 107 |  |  | 221 |  |  | 107 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vacation accrual | 222 |  |  | 221 |  |  | 43 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Incremental COVID-19 expenses | 210 |  |  | 87 |  |  | 78 |  |  | 28 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CEP deferral | 190 |  |  | 161 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand side management (DSM)/Energy efficiency (EE) | 189 |  |  | 235 |  |  | 188 |  |  | 230 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives – natural gas supply contracts | 168 |  |  | 139 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NCEMPA deferrals | 157 |  |  | 165 |  |  | 157 |  |  | 165 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear deferral | 154 |  |  | 120 |  |  | 64 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred pipeline integrity costs | 121 |  |  | 108 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COR settlement | 120 |  |  | 123 |  |  | 32 |  |  | 32 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred coal ash handling system costs | 92 |  |  | 90 |  |  | 25 |  |  | 23 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Qualifying facility contract buyouts | 81 |  |  | 94 |  |  | 81 |  |  | 94 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amounts due from customers | 57 |  |  | 85 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Propane caverns | 26 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred severance charges | 21 |  |  | 54 |  |  | 7 |  |  | 18 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufactured gas plant (MGP) | — |  |  | 104 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 555 |  |  | 426 |  |  | 110 |  |  | 87 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total regulatory assets | 18,130 |  |  | 14,637 |  |  | 8,979 |  |  | 6,939 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: current portion | 3,485 |  |  | 2,150 |  |  | 1,833 |  |  | 1,030 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total noncurrent regulatory assets | $ | 14,645 |  |  | $ | 12,487 |  |  | $ | 7,146 |  |  | $ | 5,909 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net regulatory liability related to income taxes | $ | 6,462 |  |  | $ | 7,199 |  |  | $ | 2,192 |  |  | $ | 2,394 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of removal | 5,151 |  |  | 6,150 |  |  | 2,269 |  |  | 2,955 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – nuclear and other | 1,038 |  |  | 2,053 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge cost deferrals | 683 |  |  | 364 |  |  | 252 |  |  | 155 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension and OPEB | 211 |  |  | 213 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DOE Settlement | 154 |  |  | — |  |  | 154 |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for rate refunds | 78 |  |  | 274 |  |  | 28 |  |  | 87 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amounts to be refunded to customers | 45 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 1,226 |  |  | 1,110 |  |  | 434 |  |  | 453 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total regulatory liabilities | 15,048 |  |  | 17,363 |  |  | 5,329 |  |  | 6,044 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: current portion | 1,466 |  |  | 1,211 |  |  | 576 |  |  | 478 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total noncurrent regulatory liabilities | $ | 13,582 |  |  | $ | 16,152 |  |  | $ | 4,753 |  |  | $ | 5,566 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.
| Duke Energy |  | Progress Energy |  |  |  |  |  |  |  |  |  |  |  |  |  |
| December 31, |  | December 31, |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in millions) | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – coal ash | $ | 3,205 |  |  | $ | 3,408 |  |  | $ | 1,429 |  |  | $ | 1,399 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – nuclear and other | 945 |  |  | 684 |  |  | 884 |  |  | 620 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred fuel and purchased power | 3,866 |  |  | 1,253 |  |  | 2,060 |  |  | 718 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension and OPEB | 2,336 |  |  | 2,017 |  |  | 759 |  |  | 725 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storm cost securitized balance, net | 940 |  |  | 991 |  |  | 720 |  |  | 759 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear asset securitized balance, net | 881 |  |  | 937 |  |  | 881 |  |  | 937 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt fair value adjustment | 829 |  |  | 884 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storm cost deferrals | 666 |  |  | 213 |  |  | 559 |  |  | 189 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge costs deferrals | 378 |  |  | 348 |  |  | 128 |  |  | 137 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Post-in-service carrying costs (PISCC) and deferred operating expenses | 342 |  |  | 356 |  |  | 42 |  |  | 47 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retired generation facilities | 316 |  |  | 357 |  |  | 243 |  |  | 265 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred asset – Lee and Harris COLA | 288 |  |  | 317 |  |  | 21 |  |  | 21 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Advanced metering infrastructure (AMI) | 283 |  |  | 311 |  |  | 111 |  |  | 130 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer connect project | 271 |  |  | 242 |  |  | 136 |  |  | 124 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of removal regulatory asset | 221 |  |  | 107 |  |  | 221 |  |  | 107 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vacation accrual | 222 |  |  | 221 |  |  | 43 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Incremental COVID-19 expenses | 210 |  |  | 87 |  |  | 78 |  |  | 28 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CEP deferral | 190 |  |  | 161 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand side management (DSM)/Energy efficiency (EE) | 189 |  |  | 235 |  |  | 188 |  |  | 230 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives – natural gas supply contracts | 168 |  |  | 139 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NCEMPA deferrals | 157 |  |  | 165 |  |  | 157 |  |  | 165 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear deferral | 154 |  |  | 120 |  |  | 64 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred pipeline integrity costs | 121 |  |  | 108 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COR settlement | 120 |  |  | 123 |  |  | 32 |  |  | 32 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred coal ash handling system costs | 92 |  |  | 90 |  |  | 25 |  |  | 23 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Qualifying facility contract buyouts | 81 |  |  | 94 |  |  | 81 |  |  | 94 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amounts due from customers | 57 |  |  | 85 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Propane caverns | 26 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred severance charges | 21 |  |  | 54 |  |  | 7 |  |  | 18 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufactured gas plant (MGP) | — |  |  | 104 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 555 |  |  | 426 |  |  | 110 |  |  | 87 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total regulatory assets | 18,130 |  |  | 14,637 |  |  | 8,979 |  |  | 6,939 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: current portion | 3,485 |  |  | 2,150 |  |  | 1,833 |  |  | 1,030 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total noncurrent regulatory assets | $ | 14,645 |  |  | $ | 12,487 |  |  | $ | 7,146 |  |  | $ | 5,909 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net regulatory liability related to income taxes | $ | 6,462 |  |  | $ | 7,199 |  |  | $ | 2,192 |  |  | $ | 2,394 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of removal | 5,151 |  |  | 6,150 |  |  | 2,269 |  |  | 2,955 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – nuclear and other | 1,038 |  |  | 2,053 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge cost deferrals | 683 |  |  | 364 |  |  | 252 |  |  | 155 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension and OPEB | 211 |  |  | 213 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DOE Settlement | 154 |  |  | — |  |  | 154 |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for rate refunds | 78 |  |  | 274 |  |  | 28 |  |  | 87 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amounts to be refunded to customers | 45 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 1,226 |  |  | 1,110 |  |  | 434 |  |  | 453 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total regulatory liabilities | 15,048 |  |  | 17,363 |  |  | 5,329 |  |  | 6,044 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: current portion | 1,466 |  |  | 1,211 |  |  | 576 |  |  | 478 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total noncurrent regulatory liabilities | $ | 13,582 |  |  | $ | 16,152 |  |  | $ | 4,753 |  |  | $ | 5,566 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Potential Plant Retirements | The table below contains the net carrying value of generating facilities planned for retirement or included in recent IRPs or Carbon Plan as evaluated for potential retirement. Dollar amounts in the table below are included in Net property, plant and equipment on the Consolidated Balance Sheets as of December 31, 2022, and exclude capitalized asset retirement costs.
|  |  |  |  |  |  |  |  | Remaining Net |  |  |  |
| Capacity |  |  |  |  |  |  |  | Book Value |  |  |  |
| (in MW) |  |  |  |  |  |  |  | (in millions) |  |  |  |
Duke Energy Carolinas |  |  |  |  |  |  |  |  |  |  |  |  |
Allen Steam Station Unit 1(a) | 167 |  |  |  |  |  |  |  |  | $ | 10 |  |  |  |  |
Allen Steam Station Unit 5(b) | 259 |  |  |  |  |  |  |  |  | 233 |  |  |  |  |
Cliffside Unit 5(b) | 546 |  |  |  |  |  |  |  |  | 344 |  |  |  |  |
Marshall Units 1-2(b) | 760 |  |  |  |  |  |  |  | 428 |  |  |  |
Duke Energy Progress |  |  |  |  |  |  |  |  |  |  |  |  |
Mayo Unit 1(b) | 713 |  |  |  |  |  |  |  |  | 639 |  |  |  |  |
Roxboro Units 3-4(b) | 1,409 |  |  |  |  |  |  |  |  | 425 |  |  |  |  |
Duke Energy Florida |  |  |  |  |  |  |  |  |  |  |  |  |
Crystal River Units 4-5(c) | 1,442 |  |  |  |  |  |  |  |  | 1,549 |  |  |  |  |
Duke Energy Indiana |  |  |  |  |  |  |  |  |  |  |  |  |
Gibson Units 1-5(d) | 2,845 |  |  |  |  |  |  |  |  | 2,043 |  |  |  |  |
Cayuga Units 1-2(d) | 1,005 |  |  |  |  |  |  |  |  | 622 |  |  |  |  |
Total Duke Energy | 9,146 |  |  |  |  |  |  |  |  | $ | 6,293 |  |  |  |  |
(a) As part of the 2015 resolution of a lawsuit involving alleged New Source Review violations, Duke Energy Carolinas must retire Allen Steam Station Unit 1 by December 31, 2024. (b) These units were included in the IRP filed by Duke Energy Carolinas and Duke Energy Progress in South Carolina on September 1, 2020, and in the Carbon Plan adopted by the NCUC in December 2022. The long-term energy options considered could result in retirement of these units earlier than their current estimated useful lives. (c) On January 14, 2021, Duke En ergy Florida filed the 2021 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 FPSC approved the 2021 Settlement on May 4, 2021. The remaining net book value reflected in the table above excludes $200 million of accelerated deprecation collected from retail customers pursuant to Duke Energy Florida's 2017 Settlement. (d) The rate case filed July 2, 2019, included proposed depreciation rates reflecting retirement dates from 2026 to 2038. The depreciation rates reflecting these updated retirement dates were approved by the IURC as part of the rate case order issued on June 29, 2020.
Duke Energy Carolinas |
Public Utilities, General Disclosures [Line Items] |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 1,391 |  | $ | 1,227 |  |  | (g) | (b)
Deferred fuel and purchased power(i) | 1,614 |  | 339 |  |  | (e) | 2024
Accrued pension and OPEB(c) | 614 |  | 365 |  |  | Yes | (h)
Storm cost securitized balance, net | 220 |  | 232 |  |  |  | 2041
Storm cost deferrals | 93 |  | 22 |  |  | Yes | (b)
Hedge costs deferrals(c) | 228 |  | 171 |  |  | Yes | (b)
PISCC and deferred operating expenses(c) | 30 |  | 31 |  |  | Yes | (b)
Retired generation facilities(c) | 39 |  | 54 |  |  | Yes | (b)
Deferred asset – Lee COLA | 267 |  | 296 |  |  |  | (b)
AMI | 139 |  | 140 |  |  | Yes | (b)
Customer connect project | 62 |  | 66 |  |  | Yes | (b)
Vacation accrual | 84 |  | 83 |  |  |  | 2023
Incremental COVID-19 expenses | 127 |  | 51 |  |  | Yes | (b)
Nuclear deferral | 90 |  | 78 |  |  |  | 2024
COR settlement | 88 |  | 91 |  |  | Yes | (b)
Deferred coal ash handling system costs | 67 |  | 67 |  |  | Yes | (b)
Other | 235 |  | 166 |  |  |  | (b)
Total regulatory assets | 5,388 |  | 3,479 |  |  |  |
Less: current portion | 1,095 |  | 544 |  |  |  |
Total noncurrent regulatory assets | $ | 4,293 |  | $ | 2,935 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes(d) | $ | 2,475 |  | $ | 2,785 |  |  |  | (b)
Costs of removal(c) | 1,769 |  | 2,009 |  |  | Yes | (f)
AROs – nuclear and other | 1,038 |  | 2,053 |  |  |  | (b)
Hedge cost deferrals | 350 |  | 209 |  |  |  | (b)
Accrued pension and OPEB(c) | 44 |  | 44 |  |  | Yes | (h)
Provision for rate refunds | 50 |  | 124 |  |  | Yes | (b)
Other | 587 |  | 461 |  |  |  | (b)
Total regulatory liabilities | 6,313 |  | 7,685 |  |  |  |
Less: current portion | 530 |  | 487 |  |  |  |
Total noncurrent regulatory liabilities | $ | 5,783 |  | $ | 7,198 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. Portions are included in rate base. (e) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (f) Recovered over the life of the associated assets. (g) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (h) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. (i) Duke Energy Carolinas submitted a fuel filing to the NCUC in May 2022 for recovery of $327 million, which included deferrals through January 2022. This amount is expected to be recovered through August 2023. The next filing will be made in the first quarter of 2023. Duke Energy Carolinas submitted a fuel filing to the PSCSC in July 2022 for recovery of $79 million, which included deferrals through May 2022. The amount is expected to be recovered through September 2023. The next filing will be made in the third quarter of 2023.
Schedule of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 1,391 |  | $ | 1,227 |  |  | (g) | (b)
Deferred fuel and purchased power(i) | 1,614 |  | 339 |  |  | (e) | 2024
Accrued pension and OPEB(c) | 614 |  | 365 |  |  | Yes | (h)
Storm cost securitized balance, net | 220 |  | 232 |  |  |  | 2041
Storm cost deferrals | 93 |  | 22 |  |  | Yes | (b)
Hedge costs deferrals(c) | 228 |  | 171 |  |  | Yes | (b)
PISCC and deferred operating expenses(c) | 30 |  | 31 |  |  | Yes | (b)
Retired generation facilities(c) | 39 |  | 54 |  |  | Yes | (b)
Deferred asset – Lee COLA | 267 |  | 296 |  |  |  | (b)
AMI | 139 |  | 140 |  |  | Yes | (b)
Customer connect project | 62 |  | 66 |  |  | Yes | (b)
Vacation accrual | 84 |  | 83 |  |  |  | 2023
Incremental COVID-19 expenses | 127 |  | 51 |  |  | Yes | (b)
Nuclear deferral | 90 |  | 78 |  |  |  | 2024
COR settlement | 88 |  | 91 |  |  | Yes | (b)
Deferred coal ash handling system costs | 67 |  | 67 |  |  | Yes | (b)
Other | 235 |  | 166 |  |  |  | (b)
Total regulatory assets | 5,388 |  | 3,479 |  |  |  |
Less: current portion | 1,095 |  | 544 |  |  |  |
Total noncurrent regulatory assets | $ | 4,293 |  | $ | 2,935 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes(d) | $ | 2,475 |  | $ | 2,785 |  |  |  | (b)
Costs of removal(c) | 1,769 |  | 2,009 |  |  | Yes | (f)
AROs – nuclear and other | 1,038 |  | 2,053 |  |  |  | (b)
Hedge cost deferrals | 350 |  | 209 |  |  |  | (b)
Accrued pension and OPEB(c) | 44 |  | 44 |  |  | Yes | (h)
Provision for rate refunds | 50 |  | 124 |  |  | Yes | (b)
Other | 587 |  | 461 |  |  |  | (b)
Total regulatory liabilities | 6,313 |  | 7,685 |  |  |  |
Less: current portion | 530 |  | 487 |  |  |  |
Total noncurrent regulatory liabilities | $ | 5,783 |  | $ | 7,198 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. Portions are included in rate base. (e) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (f) Recovered over the life of the associated assets. (g) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (h) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. (i) Duke Energy Carolinas submitted a fuel filing to the NCUC in May 2022 for recovery of $327 million, which included deferrals through January 2022. This amount is expected to be recovered through August 2023. The next filing will be made in the first quarter of 2023. Duke Energy Carolinas submitted a fuel filing to the PSCSC in July 2022 for recovery of $79 million, which included deferrals through May 2022. The amount is expected to be recovered through September 2023. The next filing will be made in the third quarter of 2023.
Duke Energy Progress |
Public Utilities, General Disclosures [Line Items] |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 1,418 |  | $ | 1,389 |  |  | (g) | (b)
AROs – nuclear and other | 869 |  | 613 |  |  |  | (c)
Deferred fuel and purchased power(l) | 705 |  | 303 |  |  | (e) | 2024
Accrued pension and OPEB(d) | 417 |  | 351 |  |  | Yes | (j)
Storm cost securitized balance, net | 720 |  | 759 |  |  |  | 2041
Storm cost deferrals | 234 |  | 170 |  |  | Yes | (b)
Hedge costs deferrals | 55 |  | 60 |  |  |  | (b)
PISCC and deferred operating expenses | 42 |  | 47 |  |  | Yes | 2054
Retired generation facilities | 149 |  | 171 |  |  | Yes | (b)
Deferred asset - Harris COLA | 21 |  | 21 |  |  |  | (b)
AMI | 81 |  | 92 |  |  | Yes | (b)
Customer connect project | 54 |  | 57 |  |  | Yes | (b)
Vacation accrual | 43 |  | 42 |  |  |  | 2023
Incremental COVID-19 expenses | 78 |  | 28 |  |  | Yes | (b)
DSM/EE(d) | 180 |  | 218 |  |  | (h) | (h)
NCEMPA deferrals | 157 |  | 165 |  |  | (f) | 2042
Nuclear deferral | 64 |  | 42 |  |  |  | 2024
COR settlement | 32 |  | 32 |  |  | Yes | (b)
Deferred coal ash handling system costs | 25 |  | 23 |  |  | Yes | (b)
Other | 70 |  | 68 |  |  |  | (b)
Total regulatory assets | 5,414 |  | 4,651 |  |  |  |
Less: current portion | 690 |  | 533 |  |  |  |
Total noncurrent regulatory assets | $ | 4,724 |  | $ | 4,118 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes(k) | $ | 1,559 |  | $ | 1,695 |  |  |  | (b)
Costs of removal(d) | 2,269 |  | 2,955 |  |  | Yes | (i)
Hedge cost deferrals | 252 |  | 155 |  |  |  | (b)
Provision for rate refunds | 28 |  | 87 |  |  | Yes | (b)
Other | 344 |  | 357 |  |  |  | (b)
Total regulatory liabilities | 4,452 |  | 5,249 |  |  |  |
Less: current portion | 332 |  | 381 |  |  |  |
Total noncurrent regulatory liabilities | $ | 4,120 |  | $ | 4,868 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit. (d) Included in rate base. (e) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (f) South Carolina retail allocated costs are earning a return. (g) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (h) Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism. (i) Recovered over the life of the associated assets. (j) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. (k) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. Portions are included in rate base. (l) Duke Energy Progress submitted a fuel filing to the NCUC in August 2022 for recovery of $251 million, which included deferrals through June 2022. This amount is expected to be recovered through November 2023. The next filing will be made in the second quarter of 2023. Duke Energy Progress submitted a fuel filing to the PSCSC in April 2022 for recovery of $44 million, which included deferrals through February 2022. This amount is expected to be recovered through June 2023. The next filing will be made in the second quarter of 2023.
Schedule of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 1,418 |  | $ | 1,389 |  |  | (g) | (b)
AROs – nuclear and other | 869 |  | 613 |  |  |  | (c)
Deferred fuel and purchased power(l) | 705 |  | 303 |  |  | (e) | 2024
Accrued pension and OPEB(d) | 417 |  | 351 |  |  | Yes | (j)
Storm cost securitized balance, net | 720 |  | 759 |  |  |  | 2041
Storm cost deferrals | 234 |  | 170 |  |  | Yes | (b)
Hedge costs deferrals | 55 |  | 60 |  |  |  | (b)
PISCC and deferred operating expenses | 42 |  | 47 |  |  | Yes | 2054
Retired generation facilities | 149 |  | 171 |  |  | Yes | (b)
Deferred asset - Harris COLA | 21 |  | 21 |  |  |  | (b)
AMI | 81 |  | 92 |  |  | Yes | (b)
Customer connect project | 54 |  | 57 |  |  | Yes | (b)
Vacation accrual | 43 |  | 42 |  |  |  | 2023
Incremental COVID-19 expenses | 78 |  | 28 |  |  | Yes | (b)
DSM/EE(d) | 180 |  | 218 |  |  | (h) | (h)
NCEMPA deferrals | 157 |  | 165 |  |  | (f) | 2042
Nuclear deferral | 64 |  | 42 |  |  |  | 2024
COR settlement | 32 |  | 32 |  |  | Yes | (b)
Deferred coal ash handling system costs | 25 |  | 23 |  |  | Yes | (b)
Other | 70 |  | 68 |  |  |  | (b)
Total regulatory assets | 5,414 |  | 4,651 |  |  |  |
Less: current portion | 690 |  | 533 |  |  |  |
Total noncurrent regulatory assets | $ | 4,724 |  | $ | 4,118 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes(k) | $ | 1,559 |  | $ | 1,695 |  |  |  | (b)
Costs of removal(d) | 2,269 |  | 2,955 |  |  | Yes | (i)
Hedge cost deferrals | 252 |  | 155 |  |  |  | (b)
Provision for rate refunds | 28 |  | 87 |  |  | Yes | (b)
Other | 344 |  | 357 |  |  |  | (b)
Total regulatory liabilities | 4,452 |  | 5,249 |  |  |  |
Less: current portion | 332 |  | 381 |  |  |  |
Total noncurrent regulatory liabilities | $ | 4,120 |  | $ | 4,868 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit. (d) Included in rate base. (e) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (f) South Carolina retail allocated costs are earning a return. (g) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (h) Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism. (i) Recovered over the life of the associated assets. (j) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. (k) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. Portions are included in rate base. (l) Duke Energy Progress submitted a fuel filing to the NCUC in August 2022 for recovery of $251 million, which included deferrals through June 2022. This amount is expected to be recovered through November 2023. The next filing will be made in the second quarter of 2023. Duke Energy Progress submitted a fuel filing to the PSCSC in April 2022 for recovery of $44 million, which included deferrals through February 2022. This amount is expected to be recovered through June 2023. The next filing will be made in the second quarter of 2023.
Duke Energy Florida |
Public Utilities, General Disclosures [Line Items] |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 11 |  | $ | 10 |  |  |  | (b)
AROs – nuclear and other | 15 |  | 7 |  |  |  | (b)
Deferred fuel and purchased power(h) | 1,355 |  | 415 |  |  | (f) | 2024
Accrued pension and OPEB(c) | 342 |  | 374 |  |  | Yes | (g)
Nuclear asset securitized balance, net | 881 |  | 937 |  |  |  | 2036
Storm cost deferrals(c) | 325 |  | 19 |  |  | (f) | (b)
Hedge costs deferrals(c) | 73 |  | 77 |  |  | Yes | 2038
Retired generation facilities(c) | 94 |  | 94 |  |  | Yes | 2044
AMI(c) | 30 |  | 38 |  |  | Yes | 2032
Customer connect project(c) | 82 |  | 67 |  |  | Yes | 2037
Costs of removal regulatory asset(c) | 221 |  | 107 |  |  | (d) | (b)
Qualifying facility contract buyouts(c) | 81 |  | 94 |  |  | Yes | 2034
Other | 55 |  | 49 |  |  | (d) | (b)
Total regulatory assets | 3,565 |  | 2,288 |  |  |  |
Less: current portion | 1,143 |  | 497 |  |  |  |
Total noncurrent regulatory assets | $ | 2,422 |  | $ | 1,791 |  |  |  |
Net regulatory liability related to income taxes(c) | $ | 633 |  | $ | 699 |  |  |  | (b)
DOE Settlement | 154 |  | — |  |  |  |
Other | 90 |  | 97 |  |  | (d) | (b)
Total regulatory liabilities | 877 |  | 796 |  |  |  |
Less: current portion | 244 |  | 98 |  |  |  |
Total noncurrent regulatory liabilities | $ | 633 |  | $ | 698 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Certain costs earn/pay a return. (e) Earns a debt return/interest once collections begin. (f) Earns commercial paper rate. (g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. (h) Duke Energy Florida submitted a fuel filing to the FPSC in January 2023 for recovery of $795 million, which included the 2022 actual under-recovery of $1.2 billion, offset by projected declining fuel costs in 2023 due to lower natural gas prices. The expected recovery period is April 2023 through March 2024.
Schedule of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 11 |  | $ | 10 |  |  |  | (b)
AROs – nuclear and other | 15 |  | 7 |  |  |  | (b)
Deferred fuel and purchased power(h) | 1,355 |  | 415 |  |  | (f) | 2024
Accrued pension and OPEB(c) | 342 |  | 374 |  |  | Yes | (g)
Nuclear asset securitized balance, net | 881 |  | 937 |  |  |  | 2036
Storm cost deferrals(c) | 325 |  | 19 |  |  | (f) | (b)
Hedge costs deferrals(c) | 73 |  | 77 |  |  | Yes | 2038
Retired generation facilities(c) | 94 |  | 94 |  |  | Yes | 2044
AMI(c) | 30 |  | 38 |  |  | Yes | 2032
Customer connect project(c) | 82 |  | 67 |  |  | Yes | 2037
Costs of removal regulatory asset(c) | 221 |  | 107 |  |  | (d) | (b)
Qualifying facility contract buyouts(c) | 81 |  | 94 |  |  | Yes | 2034
Other | 55 |  | 49 |  |  | (d) | (b)
Total regulatory assets | 3,565 |  | 2,288 |  |  |  |
Less: current portion | 1,143 |  | 497 |  |  |  |
Total noncurrent regulatory assets | $ | 2,422 |  | $ | 1,791 |  |  |  |
Net regulatory liability related to income taxes(c) | $ | 633 |  | $ | 699 |  |  |  | (b)
DOE Settlement | 154 |  | — |  |  |  |
Other | 90 |  | 97 |  |  | (d) | (b)
Total regulatory liabilities | 877 |  | 796 |  |  |  |
Less: current portion | 244 |  | 98 |  |  |  |
Total noncurrent regulatory liabilities | $ | 633 |  | $ | 698 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Certain costs earn/pay a return. (e) Earns a debt return/interest once collections begin. (f) Earns commercial paper rate. (g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. (h) Duke Energy Florida submitted a fuel filing to the FPSC in January 2023 for recovery of $795 million, which included the 2022 actual under-recovery of $1.2 billion, offset by projected declining fuel costs in 2023 due to lower natural gas prices. The expected recovery period is April 2023 through March 2024.
Duke Energy Ohio |
Public Utilities, General Disclosures [Line Items] |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | — |  | $ | 33 |  |  | Yes | (b)
Deferred fuel and purchased power | 54 |  | 38 |  |  |  | 2023
Accrued pension and OPEB | 129 |  | 133 |  |  |  | (e)
Storm cost deferrals | 14 |  | 2 |  |  |  | 2023
Hedge costs deferrals | 2 |  | 5 |  |  |  | (b)
PISCC and deferred operating expenses(c) | 15 |  | 16 |  |  | Yes | 2083
AMI | 18 |  | 24 |  |  |  | (b)
Customer connect project | 54 |  | 41 |  |  |  | (b)
CEP deferral | 190 |  | 161 |  |  | Yes | (b)
Deferred pipeline integrity costs | 28 |  | 24 |  |  | Yes | (b)
Propane caverns | 26 |  | — |  |  |  | (b)
Manufactured gas plant (MGP) | — |  | 104 |  |  |  | (b)
Other | 154 |  | 126 |  |  |  | (b)
Total regulatory assets | 684 |  | 707 |  |  |  |
Less: current portion | 103 |  | 72 |  |  |  |
Total noncurrent regulatory assets | $ | 581 |  | $ | 635 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 496 |  | $ | 602 |  |  |  | (b)
Costs of removal | 9 |  | 39 |  |  |  | (d)
Accrued pension and OPEB | 21 |  | 21 |  |  |  | (e)
Provision for rate refunds | — |  | 61 |  |  |  |
Other | 107 |  | 78 |  |  |  | (b)
Total regulatory liabilities | 633 |  | 801 |  |  |  |
Less: current portion | 99 |  | 62 |  |  |  |
Total noncurrent regulatory liabilities | $ | 534 |  | $ | 739 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Recovery over the life of the associated assets. (e) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | — |  | $ | 33 |  |  | Yes | (b)
Deferred fuel and purchased power | 54 |  | 38 |  |  |  | 2023
Accrued pension and OPEB | 129 |  | 133 |  |  |  | (e)
Storm cost deferrals | 14 |  | 2 |  |  |  | 2023
Hedge costs deferrals | 2 |  | 5 |  |  |  | (b)
PISCC and deferred operating expenses(c) | 15 |  | 16 |  |  | Yes | 2083
AMI | 18 |  | 24 |  |  |  | (b)
Customer connect project | 54 |  | 41 |  |  |  | (b)
CEP deferral | 190 |  | 161 |  |  | Yes | (b)
Deferred pipeline integrity costs | 28 |  | 24 |  |  | Yes | (b)
Propane caverns | 26 |  | — |  |  |  | (b)
Manufactured gas plant (MGP) | — |  | 104 |  |  |  | (b)
Other | 154 |  | 126 |  |  |  | (b)
Total regulatory assets | 684 |  | 707 |  |  |  |
Less: current portion | 103 |  | 72 |  |  |  |
Total noncurrent regulatory assets | $ | 581 |  | $ | 635 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 496 |  | $ | 602 |  |  |  | (b)
Costs of removal | 9 |  | 39 |  |  |  | (d)
Accrued pension and OPEB | 21 |  | 21 |  |  |  | (e)
Provision for rate refunds | — |  | 61 |  |  |  |
Other | 107 |  | 78 |  |  |  | (b)
Total regulatory liabilities | 633 |  | 801 |  |  |  |
Less: current portion | 99 |  | 62 |  |  |  |
Total noncurrent regulatory liabilities | $ | 534 |  | $ | 739 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Recovery over the life of the associated assets. (e) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Duke Energy Indiana |
Public Utilities, General Disclosures [Line Items] |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 385 |  | $ | 749 |  |  | Yes | (b)
Deferred fuel and purchased power | 138 |  | 158 |  |  |  | 2023
Accrued pension and OPEB | 214 |  | 222 |  |  |  | (e)
Hedge costs deferrals | 20 |  | 35 |  |  |  | (b)
PISCC and deferred operating expenses(c) | 255 |  | 262 |  |  | Yes | (b)
Retired generation facilities(c) | 34 |  | 38 |  |  | Yes | 2030
AMI | 15 |  | 17 |  |  |  | 2031
Customer connect project | 19 |  | 11 |  |  |  | (b)
Other | 44 |  | 63 |  |  |  | (b)
Total regulatory assets | 1,124 |  | 1,555 |  |  |  |
Less: current portion | 249 |  | 277 |  |  |  |
Total noncurrent regulatory assets | $ | 875 |  | $ | 1,278 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 840 |  | $ | 908 |  |  |  | (b)
Costs of removal | 531 |  | 575 |  |  |  | (d)
Hedge cost deferrals | 81 |  | — |  |  |  | (b)
Accrued pension and OPEB | 104 |  | 113 |  |  |  | (e)
Other | 85 |  | 96 |  |  |  | (b)
Total regulatory liabilities | 1,641 |  | 1,692 |  |  |  |
Less: current portion | 187 |  | 127 |  |  |  |
Total noncurrent regulatory liabilities | $ | 1,454 |  | $ | 1,565 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Refunded over the life of the associated assets. (e) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 385 |  | $ | 749 |  |  | Yes | (b)
Deferred fuel and purchased power | 138 |  | 158 |  |  |  | 2023
Accrued pension and OPEB | 214 |  | 222 |  |  |  | (e)
Hedge costs deferrals | 20 |  | 35 |  |  |  | (b)
PISCC and deferred operating expenses(c) | 255 |  | 262 |  |  | Yes | (b)
Retired generation facilities(c) | 34 |  | 38 |  |  | Yes | 2030
AMI | 15 |  | 17 |  |  |  | 2031
Customer connect project | 19 |  | 11 |  |  |  | (b)
Other | 44 |  | 63 |  |  |  | (b)
Total regulatory assets | 1,124 |  | 1,555 |  |  |  |
Less: current portion | 249 |  | 277 |  |  |  |
Total noncurrent regulatory assets | $ | 875 |  | $ | 1,278 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 840 |  | $ | 908 |  |  |  | (b)
Costs of removal | 531 |  | 575 |  |  |  | (d)
Hedge cost deferrals | 81 |  | — |  |  |  | (b)
Accrued pension and OPEB | 104 |  | 113 |  |  |  | (e)
Other | 85 |  | 96 |  |  |  | (b)
Total regulatory liabilities | 1,641 |  | 1,692 |  |  |  |
Less: current portion | 187 |  | 127 |  |  |  |
Total noncurrent regulatory liabilities | $ | 1,454 |  | $ | 1,565 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Refunded over the life of the associated assets. (e) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Piedmont |
Public Utilities, General Disclosures [Line Items] |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – nuclear and other | $ | 27 |  | $ | 22 |  |  |  | (d)
Accrued pension and OPEB(c) | 119 |  | 82 |  |  |  | (g)
Vacation accrual | 12 |  | 12 |  |  |  | 2023
Derivatives – natural gas supply contracts(f) | 168 |  | 139 |  |  |  |
Deferred pipeline integrity costs(c) | 93 |  | 84 |  |  |  | 2025
Amounts due from customers | 57 |  | 85 |  |  | (e) | (b)
Other | 35 |  | 33 |  |  |  | (b)
Total regulatory assets | 511 |  | 457 |  |  |  |
Less: current portion | 119 |  | 141 |  |  |  |
Total noncurrent regulatory assets | $ | 392 |  | $ | 316 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 459 |  | $ | 510 |  |  |  | (b)
Costs of removal(c) | 573 |  | 572 |  |  |  | (d)
Other | 66 |  | 32 |  |  | (e) | (b)
Total regulatory liabilities | 1,098 |  | 1,114 |  |  |  |
Less: current portion | 74 |  | 56 |  |  |  |
Total noncurrent regulatory liabilities | $ | 1,024 |  | $ | 1,058 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Recovery over the life of the associated assets. (e) Certain costs earn/pay a return. (f) Balance will fluctuate with changes in the market. Current contracts extend into 2031. (g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2022 | 2021 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – nuclear and other | $ | 27 |  | $ | 22 |  |  |  | (d)
Accrued pension and OPEB(c) | 119 |  | 82 |  |  |  | (g)
Vacation accrual | 12 |  | 12 |  |  |  | 2023
Derivatives – natural gas supply contracts(f) | 168 |  | 139 |  |  |  |
Deferred pipeline integrity costs(c) | 93 |  | 84 |  |  |  | 2025
Amounts due from customers | 57 |  | 85 |  |  | (e) | (b)
Other | 35 |  | 33 |  |  |  | (b)
Total regulatory assets | 511 |  | 457 |  |  |  |
Less: current portion | 119 |  | 141 |  |  |  |
Total noncurrent regulatory assets | $ | 392 |  | $ | 316 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 459 |  | $ | 510 |  |  |  | (b)
Costs of removal(c) | 573 |  | 572 |  |  |  | (d)
Other | 66 |  | 32 |  |  | (e) | (b)
Total regulatory liabilities | 1,098 |  | 1,114 |  |  |  |
Less: current portion | 74 |  | 56 |  |  |  |
Total noncurrent regulatory liabilities | $ | 1,024 |  | $ | 1,058 |  |  |  |
(a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Recovery over the life of the associated assets. (e) Certain costs earn/pay a return. (f) Balance will fluctuate with changes in the market. Current contracts extend into 2031. (g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

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