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Regulatory Matters (Tables) | 12 Months Ended
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Dec. 31, 2024
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) | 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – coal ash | $ | 3,384 |  |  | $ | 3,214 |  |  | $ | 1,335 |  |  | $ | 1,230 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension and OPEB | 2,524 |  |  | 2,389 |  |  | 828 |  |  | 757 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storm cost deferrals | 1,951 |  |  | 407 |  |  | 1,238 |  |  | 298 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storm cost securitized balance, net | 1,023 |  |  | 890 |  |  | 822 |  |  | 682 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – nuclear and other | 952 |  |  | 1,179 |  |  | 905 |  |  | 1,127 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear asset securitized balance, net | 771 |  |  | 830 |  |  | 771 |  |  | 830 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt fair value adjustment | 719 |  |  | 774 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COR regulatory asset | 646 |  |  | 371 |  |  | 571 |  |  | 337 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred fuel and purchased power | 588 |  |  | 2,486 |  |  | 282 |  |  | 1,173 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge costs deferrals | 352 |  |  | 749 |  |  | 126 |  |  | 323 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PISCC and deferred operating expenses | 331 |  |  | 357 |  |  | 37 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retired generation facilities | 281 |  |  | 275 |  |  | 202 |  |  | 220 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer connect project | 257 |  |  | 260 |  |  | 116 |  |  | 125 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grid Deferral | 255 |  |  | 210 |  |  | 54 |  |  | 51 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Incremental COVID-19 expenses | 231 |  |  | 237 |  |  | 89 |  |  | 80 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vacation accrual | 228 |  |  | 228 |  |  | 43 |  |  | 43 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred asset – Lee and Harris COLA | 215 |  |  | 252 |  |  | 10 |  |  | 15 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Advanced metering infrastructure (AMI) | 204 |  |  | 243 |  |  | 70 |  |  | 92 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand side management (DSM) / Energy efficiency (EE) | 199 |  |  | 201 |  |  | 199 |  |  | 191 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CEP deferral | 195 |  |  | 193 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NCEMPA deferrals | 179 |  |  | 172 |  |  | 179 |  |  | 172 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Decoupling | 162 |  |  | 115 |  |  | 32 |  |  | 15 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear deferral | 134 |  |  | 131 |  |  | 53 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred pipeline integrity costs | 129 |  |  | 133 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COR settlement | 110 |  |  | 115 |  |  | 29 |  |  | 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Coal plant securitization | 102 |  |  | 8 |  |  | 39 |  |  | 8 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives – natural gas supply contracts | 94 |  |  | 147 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred coal ash handling system costs | 77 |  |  | 86 |  |  | 17 |  |  | 21 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Qualifying facility contract buyouts | 62 |  |  | 68 |  |  | 62 |  |  | 68 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tennessee ARM Deferral | 33 |  |  | 20 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Network Integration Transmission Services deferral | 31 |  |  | 31 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transmission expansion obligation | 31 |  |  | 30 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
East Bend deferrals | 24 |  |  | 28 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Propane caverns | 24 |  |  | 26 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 512 |  |  | 411 |  |  | 156 |  |  | 119 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total regulatory assets | 17,010 |  |  | 17,266 |  |  | 8,265 |  |  | 8,091 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Current portion | 2,756 |  |  | 3,648 |  |  | 1,647 |  |  | 1,661 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total noncurrent regulatory assets | $ | 14,254 |  |  | $ | 13,618 |  |  | $ | 6,618 |  |  | $ | 6,430 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COR regulatory liability | $ | 5,436 |  |  | $ | 5,497 |  |  | $ | 2,984 |  |  | $ | 2,805 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net regulatory liability related to income taxes | 5,397 |  |  | 5,901 |  |  | 1,884 |  |  | 2,008 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – nuclear and other | 2,289 |  |  | 1,673 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred Nuclear PTC | 676 |  |  | — |  |  | 95 |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge cost deferrals | 583 |  |  | 443 |  |  | 281 |  |  | 208 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Renewable energy credits | 241 |  |  | 237 |  |  | 139 |  |  | 138 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension and OPEB | 232 |  |  | 266 |  |  | 12 |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred fuel and purchased power | 223 |  |  | 137 |  |  | 94 |  |  | 14 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DSM / EE | 58 |  |  | 89 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DOE Settlement | — |  |  | 32 |  |  | — |  |  | 32 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 984 |  |  | 1,133 |  |  | 291 |  |  | 296 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total regulatory liabilities | 16,119 |  |  | 15,408 |  |  | 5,780 |  |  | 5,501 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Current portion | 1,425 |  |  | 1,369 |  |  | 522 |  |  | 418 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total noncurrent regulatory liabilities | $ | 14,694 |  |  | $ | 14,039 |  |  | $ | 5,258 |  |  | $ | 5,083 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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) | 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – coal ash | $ | 3,384 |  |  | $ | 3,214 |  |  | $ | 1,335 |  |  | $ | 1,230 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension and OPEB | 2,524 |  |  | 2,389 |  |  | 828 |  |  | 757 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storm cost deferrals | 1,951 |  |  | 407 |  |  | 1,238 |  |  | 298 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storm cost securitized balance, net | 1,023 |  |  | 890 |  |  | 822 |  |  | 682 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – nuclear and other | 952 |  |  | 1,179 |  |  | 905 |  |  | 1,127 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear asset securitized balance, net | 771 |  |  | 830 |  |  | 771 |  |  | 830 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt fair value adjustment | 719 |  |  | 774 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COR regulatory asset | 646 |  |  | 371 |  |  | 571 |  |  | 337 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred fuel and purchased power | 588 |  |  | 2,486 |  |  | 282 |  |  | 1,173 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge costs deferrals | 352 |  |  | 749 |  |  | 126 |  |  | 323 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PISCC and deferred operating expenses | 331 |  |  | 357 |  |  | 37 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retired generation facilities | 281 |  |  | 275 |  |  | 202 |  |  | 220 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer connect project | 257 |  |  | 260 |  |  | 116 |  |  | 125 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grid Deferral | 255 |  |  | 210 |  |  | 54 |  |  | 51 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Incremental COVID-19 expenses | 231 |  |  | 237 |  |  | 89 |  |  | 80 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vacation accrual | 228 |  |  | 228 |  |  | 43 |  |  | 43 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred asset – Lee and Harris COLA | 215 |  |  | 252 |  |  | 10 |  |  | 15 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Advanced metering infrastructure (AMI) | 204 |  |  | 243 |  |  | 70 |  |  | 92 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand side management (DSM) / Energy efficiency (EE) | 199 |  |  | 201 |  |  | 199 |  |  | 191 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CEP deferral | 195 |  |  | 193 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NCEMPA deferrals | 179 |  |  | 172 |  |  | 179 |  |  | 172 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Decoupling | 162 |  |  | 115 |  |  | 32 |  |  | 15 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear deferral | 134 |  |  | 131 |  |  | 53 |  |  | 42 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred pipeline integrity costs | 129 |  |  | 133 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COR settlement | 110 |  |  | 115 |  |  | 29 |  |  | 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Coal plant securitization | 102 |  |  | 8 |  |  | 39 |  |  | 8 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives – natural gas supply contracts | 94 |  |  | 147 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred coal ash handling system costs | 77 |  |  | 86 |  |  | 17 |  |  | 21 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Qualifying facility contract buyouts | 62 |  |  | 68 |  |  | 62 |  |  | 68 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tennessee ARM Deferral | 33 |  |  | 20 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Network Integration Transmission Services deferral | 31 |  |  | 31 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transmission expansion obligation | 31 |  |  | 30 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
East Bend deferrals | 24 |  |  | 28 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Propane caverns | 24 |  |  | 26 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 512 |  |  | 411 |  |  | 156 |  |  | 119 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total regulatory assets | 17,010 |  |  | 17,266 |  |  | 8,265 |  |  | 8,091 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Current portion | 2,756 |  |  | 3,648 |  |  | 1,647 |  |  | 1,661 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total noncurrent regulatory assets | $ | 14,254 |  |  | $ | 13,618 |  |  | $ | 6,618 |  |  | $ | 6,430 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COR regulatory liability | $ | 5,436 |  |  | $ | 5,497 |  |  | $ | 2,984 |  |  | $ | 2,805 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net regulatory liability related to income taxes | 5,397 |  |  | 5,901 |  |  | 1,884 |  |  | 2,008 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AROs – nuclear and other | 2,289 |  |  | 1,673 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred Nuclear PTC | 676 |  |  | — |  |  | 95 |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge cost deferrals | 583 |  |  | 443 |  |  | 281 |  |  | 208 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Renewable energy credits | 241 |  |  | 237 |  |  | 139 |  |  | 138 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension and OPEB | 232 |  |  | 266 |  |  | 12 |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred fuel and purchased power | 223 |  |  | 137 |  |  | 94 |  |  | 14 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DSM / EE | 58 |  |  | 89 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DOE Settlement | — |  |  | 32 |  |  | — |  |  | 32 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 984 |  |  | 1,133 |  |  | 291 |  |  | 296 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total regulatory liabilities | 16,119 |  |  | 15,408 |  |  | 5,780 |  |  | 5,501 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Current portion | 1,425 |  |  | 1,369 |  |  | 522 |  |  | 418 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total noncurrent regulatory liabilities | $ | 14,694 |  |  | $ | 14,039 |  |  | $ | 5,258 |  |  | $ | 5,083 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Potential Plant Retirements |
Total Storm Registration Costs Across Subsidiary Registrants | Total estimated costs for storm restoration and rebuilding of infrastructure, including capital expenditures, for hurricanes Debby, Helene and Milton, net of expected insurance recoveries, are estimated to be approximately $2.8 billion, of which approximately $2.6 billion had been incurred as of December 31, 2024, with $0.2 billion estimated to be incurred for rebuilding in 2025. The following shows the total cost estimates for the registrants that were primarily impacted:
(in millions) |  |  |  |  | Cost Estimate(a)
Duke Energy Carolinas |  |  |  |  | $ | 1,150 |
Duke Energy Progress |  |  |  |  | 450 |
Duke Energy Florida |  |  |  |  | 1,150 |
(a) These estimates could change as the rebuilding of infrastructure is finalized. Duke Energy Florida was the only jurisdiction materially impacted by Hurricane Milton. Duke Energy Carolinas and Duke Energy Progress
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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 1,481 |  | $ | 1,559 |  |  | (g) | (b)
Storm cost deferrals | 691 |  | 97 |  |  | Yes | (b)
Accrued pension and OPEB | 668 |  | 671 |  |  |  | (h)
Deferred fuel and purchased power | 298 |  | 1,293 |  |  | (e) | 2026
Deferred asset – Lee COLA | 205 |  | 237 |  |  |  | (b)
Hedge costs deferrals | 202 |  | 405 |  |  |  | (b)
Storm cost securitized balance, net | 201 |  | 208 |  |  | Yes | 2041
Grid Deferral(c) | 201 |  | 159 |  |  | Yes | (b)
Incremental COVID-19 expenses | 137 |  | 152 |  |  | Yes | (b)
AMI(c) | 114 |  | 125 |  |  | Yes | (b)
Vacation accrual | 86 |  | 87 |  |  |  | 2025
Nuclear deferral | 81 |  | 89 |  |  |  | 2026
COR settlement(c) | 81 |  | 85 |  |  | Yes | (b)
Coal plant securitization | 63 |  | — |  |  | Yes | (b)
Deferred coal ash handling system costs(c) | 60 |  | 65 |  |  | Yes | (b)
Customer connect project(c) | 54 |  | 58 |  |  | Yes | (b)
Retired generation facilities(c) | 54 |  | 26 |  |  | Yes | (b)
PISCC and deferred operating expenses | 42 |  | 48 |  |  | Yes | (b)
Decoupling | 24 |  | — |  |  | Yes | (b)
Other | 141 |  | 116 |  |  |  | (b)
Total regulatory assets | 4,884 |  | 5,480 |  |  |  |
Less: Current portion | 685 |  | 1,564 |  |  |  |
Total noncurrent regulatory assets | $ | 4,199 |  | $ | 3,916 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
AROs – nuclear and other | $ | 2,289 |  | 1,673 |  |  |  | (b)
Net regulatory liability related to income taxes(d) | 1,951 |  | $ | 2,200 |  |  | Yes | (b)
COR regulatory liability(c) | 1,479 |  | 1,641 |  |  | Yes | (f)
Deferred Nuclear PTC | 581 |  | — |  |  | Yes | 2030
Hedge cost deferrals | 199 |  | 158 |  |  |  | (b)
Deferred fuel and purchased power | 108 |  | 85 |  |  | (e) | 2026
Renewable energy credits | 102 |  | 99 |  |  | Yes | (b)
DSM / EE(c) | 53 |  | 87 |  |  | Yes | (i)
Accrued pension and OPEB | 35 |  | 106 |  |  |  | (h)
Other | 413 |  | 528 |  |  |  | (b)
Total regulatory liabilities | 7,210 |  | 6,577 |  |  |  |
Less: Current portion | 618 |  | 587 |  |  |  |
Total noncurrent regulatory liabilities | $ | 6,592 |  | $ | 5,990 |  |  |  |
(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. 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. The asset balance principally relates to North Carolina costs while the liability balance relates to 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) Includes incentives on DSM/EE investments and is recovered or refunded through an annual rider mechanism.
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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 1,481 |  | $ | 1,559 |  |  | (g) | (b)
Storm cost deferrals | 691 |  | 97 |  |  | Yes | (b)
Accrued pension and OPEB | 668 |  | 671 |  |  |  | (h)
Deferred fuel and purchased power | 298 |  | 1,293 |  |  | (e) | 2026
Deferred asset – Lee COLA | 205 |  | 237 |  |  |  | (b)
Hedge costs deferrals | 202 |  | 405 |  |  |  | (b)
Storm cost securitized balance, net | 201 |  | 208 |  |  | Yes | 2041
Grid Deferral(c) | 201 |  | 159 |  |  | Yes | (b)
Incremental COVID-19 expenses | 137 |  | 152 |  |  | Yes | (b)
AMI(c) | 114 |  | 125 |  |  | Yes | (b)
Vacation accrual | 86 |  | 87 |  |  |  | 2025
Nuclear deferral | 81 |  | 89 |  |  |  | 2026
COR settlement(c) | 81 |  | 85 |  |  | Yes | (b)
Coal plant securitization | 63 |  | — |  |  | Yes | (b)
Deferred coal ash handling system costs(c) | 60 |  | 65 |  |  | Yes | (b)
Customer connect project(c) | 54 |  | 58 |  |  | Yes | (b)
Retired generation facilities(c) | 54 |  | 26 |  |  | Yes | (b)
PISCC and deferred operating expenses | 42 |  | 48 |  |  | Yes | (b)
Decoupling | 24 |  | — |  |  | Yes | (b)
Other | 141 |  | 116 |  |  |  | (b)
Total regulatory assets | 4,884 |  | 5,480 |  |  |  |
Less: Current portion | 685 |  | 1,564 |  |  |  |
Total noncurrent regulatory assets | $ | 4,199 |  | $ | 3,916 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
AROs – nuclear and other | $ | 2,289 |  | 1,673 |  |  |  | (b)
Net regulatory liability related to income taxes(d) | 1,951 |  | $ | 2,200 |  |  | Yes | (b)
COR regulatory liability(c) | 1,479 |  | 1,641 |  |  | Yes | (f)
Deferred Nuclear PTC | 581 |  | — |  |  | Yes | 2030
Hedge cost deferrals | 199 |  | 158 |  |  |  | (b)
Deferred fuel and purchased power | 108 |  | 85 |  |  | (e) | 2026
Renewable energy credits | 102 |  | 99 |  |  | Yes | (b)
DSM / EE(c) | 53 |  | 87 |  |  | Yes | (i)
Accrued pension and OPEB | 35 |  | 106 |  |  |  | (h)
Other | 413 |  | 528 |  |  |  | (b)
Total regulatory liabilities | 7,210 |  | 6,577 |  |  |  |
Less: Current portion | 618 |  | 587 |  |  |  |
Total noncurrent regulatory liabilities | $ | 6,592 |  | $ | 5,990 |  |  |  |
(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. 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. The asset balance principally relates to North Carolina costs while the liability balance relates to 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) Includes incentives on DSM/EE investments and is recovered or refunded through an annual rider mechanism.
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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 1,322 |  | $ | 1,218 |  |  | (g) | (b)
AROs – nuclear and other | 900 |  | 1,110 |  |  |  | (c)
Storm cost securitized balance, net | 822 |  | 682 |  |  | Yes | (b)
Accrued pension and OPEB | 439 |  | 408 |  |  |  | (j)
Deferred fuel and purchased power | 277 |  | 579 |  |  | (e) | 2026
Storm cost deferrals | 276 |  | 228 |  |  | Yes | (b)
DSM/EE(d) | 188 |  | 182 |  |  | Yes | (h)
NCEMPA deferrals(d) | 179 |  | 172 |  |  | (f) | 2042
Retired generation facilities(d) | 108 |  | 126 |  |  | Yes | (b)
Incremental COVID-19 expenses | 89 |  | 80 |  |  |  | (b)
Hedge costs deferrals | 85 |  | 260 |  |  |  | (b)
AMI(d) | 54 |  | 68 |  |  | Yes | (b)
Grid Deferral(d) | 54 |  | 51 |  |  | Yes | (b)
Nuclear deferral | 53 |  | 42 |  |  |  | 2026
Customer connect project(d) | 45 |  | 49 |  |  | Yes | (b)
Vacation accrual | 43 |  | 43 |  |  |  | 2025
Coal plant securitization | 39 |  | 8 |  |  | Yes | (b)
PISCC and deferred operating expenses | 37 |  | 42 |  |  | Yes | 2054
Decoupling | 32 |  | 15 |  |  | Yes | (b)
COR settlement(d) | 29 |  | 30 |  |  | Yes | (b)
Deferred coal ash handling system costs(d) | 17 |  | 21 |  |  | Yes | (b)
Deferred asset – Harris COLA | 10 |  | 15 |  |  |  | (b)
Other | 83 |  | 59 |  |  |  | (b)
Total regulatory assets | 5,181 |  | 5,488 |  |  |  |
Less: Current portion | 626 |  | 942 |  |  |  |
Total noncurrent regulatory assets | $ | 4,555 |  | $ | 4,546 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
COR regulatory liability | $ | 2,984 |  | 2,805 |  |  |  | (i)
Net regulatory liability related to income taxes(k) | 1,320 |  | $ | 1,420 |  |  | Yes | (b)
Hedge cost deferrals | 151 |  | 87 |  |  |  | (b)
Renewable energy credits | 139 |  | 138 |  |  | Yes | (b)
Deferred Nuclear PTC | 95 |  | — |  |  | Yes | (b)
Accrued pension and OPEB | 12 |  | — |  |  |  | (j)
Deferred fuel and purchased power | 10 |  | 14 |  |  | (e) | 2026
Other | 207 |  | 211 |  |  |  | (b)
Total regulatory liabilities | 4,918 |  | 4,675 |  |  |  |
Less: Current portion | 348 |  | 300 |  |  |  |
Total noncurrent regulatory liabilities | $ | 4,570 |  | $ | 4,375 |  |  |  |
(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. The asset balance principally relates to North Carolina costs while the liability balance relates to 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. Portions are included in rate base.
Schedule of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 1,322 |  | $ | 1,218 |  |  | (g) | (b)
AROs – nuclear and other | 900 |  | 1,110 |  |  |  | (c)
Storm cost securitized balance, net | 822 |  | 682 |  |  | Yes | (b)
Accrued pension and OPEB | 439 |  | 408 |  |  |  | (j)
Deferred fuel and purchased power | 277 |  | 579 |  |  | (e) | 2026
Storm cost deferrals | 276 |  | 228 |  |  | Yes | (b)
DSM/EE(d) | 188 |  | 182 |  |  | Yes | (h)
NCEMPA deferrals(d) | 179 |  | 172 |  |  | (f) | 2042
Retired generation facilities(d) | 108 |  | 126 |  |  | Yes | (b)
Incremental COVID-19 expenses | 89 |  | 80 |  |  |  | (b)
Hedge costs deferrals | 85 |  | 260 |  |  |  | (b)
AMI(d) | 54 |  | 68 |  |  | Yes | (b)
Grid Deferral(d) | 54 |  | 51 |  |  | Yes | (b)
Nuclear deferral | 53 |  | 42 |  |  |  | 2026
Customer connect project(d) | 45 |  | 49 |  |  | Yes | (b)
Vacation accrual | 43 |  | 43 |  |  |  | 2025
Coal plant securitization | 39 |  | 8 |  |  | Yes | (b)
PISCC and deferred operating expenses | 37 |  | 42 |  |  | Yes | 2054
Decoupling | 32 |  | 15 |  |  | Yes | (b)
COR settlement(d) | 29 |  | 30 |  |  | Yes | (b)
Deferred coal ash handling system costs(d) | 17 |  | 21 |  |  | Yes | (b)
Deferred asset – Harris COLA | 10 |  | 15 |  |  |  | (b)
Other | 83 |  | 59 |  |  |  | (b)
Total regulatory assets | 5,181 |  | 5,488 |  |  |  |
Less: Current portion | 626 |  | 942 |  |  |  |
Total noncurrent regulatory assets | $ | 4,555 |  | $ | 4,546 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
COR regulatory liability | $ | 2,984 |  | 2,805 |  |  |  | (i)
Net regulatory liability related to income taxes(k) | 1,320 |  | $ | 1,420 |  |  | Yes | (b)
Hedge cost deferrals | 151 |  | 87 |  |  |  | (b)
Renewable energy credits | 139 |  | 138 |  |  | Yes | (b)
Deferred Nuclear PTC | 95 |  | — |  |  | Yes | (b)
Accrued pension and OPEB | 12 |  | — |  |  |  | (j)
Deferred fuel and purchased power | 10 |  | 14 |  |  | (e) | 2026
Other | 207 |  | 211 |  |  |  | (b)
Total regulatory liabilities | 4,918 |  | 4,675 |  |  |  |
Less: Current portion | 348 |  | 300 |  |  |  |
Total noncurrent regulatory liabilities | $ | 4,570 |  | $ | 4,375 |  |  |  |
(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. The asset balance principally relates to North Carolina costs while the liability balance relates to 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. Portions are included in rate base.
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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
Storm cost deferrals(c) | $ | 962 |  | 70 |  |  | (e) | (b)
Nuclear asset securitized balance, net | 771 |  | 830 |  |  |  | 2036
COR regulatory asset | 571 |  | 337 |  |  | (d) | (b)
Accrued pension and OPEB(c) | 389 |  | 349 |  |  | Yes | (f)
Retired generation facilities(c) | 94 |  | 94 |  |  | Yes | 2044
Customer connect project(c) | 71 |  | 76 |  |  | Yes | 2037
Qualifying facility contract buyouts(c) | 62 |  | 68 |  |  | Yes | 2034
Hedge costs deferrals(c) | 41 |  | 63 |  |  | Yes | 2038
AMI(c) | 16 |  | 24 |  |  | Yes | 2032
AROs – coal ash | 13 |  | $ | 12 |  |  |  | (b)
AROs – nuclear and other | 5 |  | 17 |  |  |  | (b)
Deferred fuel and purchased power | 5 |  | 594 |  |  | (e) | 2025
Other | 86 |  | 69 |  |  | (d) | (b)
Total regulatory assets | 3,086 |  | 2,603 |  |  |  |
Less: Current portion | 1,022 |  | 720 |  |  |  |
Total noncurrent regulatory assets | $ | 2,064 |  | $ | 1,883 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes(c) | $ | 564 |  | $ | 588 |  |  |  | (b)
Hedge cost deferrals(c) | 130 |  | 121 |  |  | Yes | (b)
DOE Settlement | — |  | 32 |  |  |  |
Deferred fuel and purchased power(c) | 84 |  | — |  |  | (e) | 2025
Other | 84 |  | 85 |  |  | (d) | (b)
Total regulatory liabilities | 862 |  | 826 |  |  |  |
Less: Current portion | 174 |  | 118 |  |  |  |
Total noncurrent regulatory liabilities | $ | 688 |  | $ | 708 |  |  |  |
(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 commercial paper rate. (f) 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 Florida's Consolidated Balance Sheets.
| December 31, |  | Earns/Pays | Recovery/Refund
(in millions) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
Storm cost deferrals(c) | $ | 962 |  | 70 |  |  | (e) | (b)
Nuclear asset securitized balance, net | 771 |  | 830 |  |  |  | 2036
COR regulatory asset | 571 |  | 337 |  |  | (d) | (b)
Accrued pension and OPEB(c) | 389 |  | 349 |  |  | Yes | (f)
Retired generation facilities(c) | 94 |  | 94 |  |  | Yes | 2044
Customer connect project(c) | 71 |  | 76 |  |  | Yes | 2037
Qualifying facility contract buyouts(c) | 62 |  | 68 |  |  | Yes | 2034
Hedge costs deferrals(c) | 41 |  | 63 |  |  | Yes | 2038
AMI(c) | 16 |  | 24 |  |  | Yes | 2032
AROs – coal ash | 13 |  | $ | 12 |  |  |  | (b)
AROs – nuclear and other | 5 |  | 17 |  |  |  | (b)
Deferred fuel and purchased power | 5 |  | 594 |  |  | (e) | 2025
Other | 86 |  | 69 |  |  | (d) | (b)
Total regulatory assets | 3,086 |  | 2,603 |  |  |  |
Less: Current portion | 1,022 |  | 720 |  |  |  |
Total noncurrent regulatory assets | $ | 2,064 |  | $ | 1,883 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes(c) | $ | 564 |  | $ | 588 |  |  |  | (b)
Hedge cost deferrals(c) | 130 |  | 121 |  |  | Yes | (b)
DOE Settlement | — |  | 32 |  |  |  |
Deferred fuel and purchased power(c) | 84 |  | — |  |  | (e) | 2025
Other | 84 |  | 85 |  |  | (d) | (b)
Total regulatory liabilities | 862 |  | 826 |  |  |  |
Less: Current portion | 174 |  | 118 |  |  |  |
Total noncurrent regulatory liabilities | $ | 688 |  | $ | 708 |  |  |  |
(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 commercial paper rate. (f) 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 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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
CEP deferral | $ | 195 |  | 193 |  |  | Yes | (b)
Accrued pension and OPEB | 131 |  | 123 |  |  |  | (d)
COR regulatory asset | 75 |  | 34 |  |  |  | (b)
Customer connect project | 44 |  | 49 |  |  |  | (b)
Network Integration Transmission Services deferral | 31 |  | 31 |  |  | Yes | (b)
Transmission expansion obligation | 31 |  | 30 |  |  |  | (b)
Decoupling | 29 |  | 25 |  |  |  | (b)
Deferred pipeline integrity costs | 28 |  | 30 |  |  | Yes | (b)
East Bend deferrals(c) | 24 |  | 28 |  |  | Yes | (b)
Propane caverns | 24 |  | 26 |  |  |  | (b)
PISCC and deferred operating expenses(c) | 15 |  | 15 |  |  | Yes | 2083
AROs – coal ash | 14 |  | $ | 17 |  |  | Yes | (b)
Deferred fuel and purchased gas costs | 8 |  | 20 |  |  |  | 2025
AMI | 8 |  | 13 |  |  |  | (b)
Storm cost deferrals | 5 |  | 12 |  |  |  | 2025
Other | 131 |  | 103 |  |  |  | (b)
Total regulatory assets | 793 |  | 749 |  |  |  |
Less: Current portion | 88 |  | 73 |  |  |  |
Total noncurrent regulatory assets | $ | 705 |  | $ | 676 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 432 |  | $ | 466 |  |  |  | (b)
Accrued pension and OPEB | 14 |  | 17 |  |  |  | (d)
Deferred fuel and purchased gas costs | — |  | 15 |  |  |  | 2025
Other | 53 |  | 55 |  |  |  | (b)
Total regulatory liabilities | 499 |  | 553 |  |  |  |
Less: Current portion | 34 |  | 56 |  |  |  |
Total noncurrent regulatory liabilities | $ | 465 |  | $ | 497 |  |  |  |
(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) 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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
CEP deferral | $ | 195 |  | 193 |  |  | Yes | (b)
Accrued pension and OPEB | 131 |  | 123 |  |  |  | (d)
COR regulatory asset | 75 |  | 34 |  |  |  | (b)
Customer connect project | 44 |  | 49 |  |  |  | (b)
Network Integration Transmission Services deferral | 31 |  | 31 |  |  | Yes | (b)
Transmission expansion obligation | 31 |  | 30 |  |  |  | (b)
Decoupling | 29 |  | 25 |  |  |  | (b)
Deferred pipeline integrity costs | 28 |  | 30 |  |  | Yes | (b)
East Bend deferrals(c) | 24 |  | 28 |  |  | Yes | (b)
Propane caverns | 24 |  | 26 |  |  |  | (b)
PISCC and deferred operating expenses(c) | 15 |  | 15 |  |  | Yes | 2083
AROs – coal ash | 14 |  | $ | 17 |  |  | Yes | (b)
Deferred fuel and purchased gas costs | 8 |  | 20 |  |  |  | 2025
AMI | 8 |  | 13 |  |  |  | (b)
Storm cost deferrals | 5 |  | 12 |  |  |  | 2025
Other | 131 |  | 103 |  |  |  | (b)
Total regulatory assets | 793 |  | 749 |  |  |  |
Less: Current portion | 88 |  | 73 |  |  |  |
Total noncurrent regulatory assets | $ | 705 |  | $ | 676 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 432 |  | $ | 466 |  |  |  | (b)
Accrued pension and OPEB | 14 |  | 17 |  |  |  | (d)
Deferred fuel and purchased gas costs | — |  | 15 |  |  |  | 2025
Other | 53 |  | 55 |  |  |  | (b)
Total regulatory liabilities | 499 |  | 553 |  |  |  |
Less: Current portion | 34 |  | 56 |  |  |  |
Total noncurrent regulatory liabilities | $ | 465 |  | $ | 497 |  |  |  |
(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) 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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 554 |  | $ | 408 |  |  | Yes | (b)
PISCC and deferred operating expenses(c) | 237 |  | 241 |  |  | Yes | (b)
Accrued pension and OPEB | 212 |  | 208 |  |  |  | (e)
Retired generation facilities(c) | 25 |  | 29 |  |  | Yes | 2030
Hedge costs deferrals | 23 |  | 19 |  |  |  | (b)
Customer connect project | 19 |  | 19 |  |  |  | (b)
Storm cost deferrals | 17 |  | 11 |  |  |  | (b)
AMI | 12 |  | 13 |  |  |  | 2031
Other | 54 |  | 48 |  |  |  | (b)
Total regulatory assets | 1,153 |  | 996 |  |  |  |
Less: Current portion | 113 |  | 102 |  |  |  |
Total noncurrent regulatory assets | $ | 1,040 |  | $ | 894 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 725 |  | $ | 794 |  |  |  | (b)
COR regulatory liability | 434 |  | 496 |  |  |  | (d)
Accrued pension and OPEB | 139 |  | 109 |  |  |  | (e)
Hedge cost deferrals | 103 |  | 77 |  |  |  | (b)
Deferred fuel and purchased power | 21 |  | 23 |  |  |  | 2025
Other | 165 |  | 169 |  |  |  | (b)
Total regulatory liabilities | 1,587 |  | 1,668 |  |  |  |
Less: Current portion | 183 |  | 209 |  |  |  |
Total noncurrent regulatory liabilities | $ | 1,404 |  | $ | 1,459 |  |  |  |
(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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
AROs – coal ash | $ | 554 |  | $ | 408 |  |  | Yes | (b)
PISCC and deferred operating expenses(c) | 237 |  | 241 |  |  | Yes | (b)
Accrued pension and OPEB | 212 |  | 208 |  |  |  | (e)
Retired generation facilities(c) | 25 |  | 29 |  |  | Yes | 2030
Hedge costs deferrals | 23 |  | 19 |  |  |  | (b)
Customer connect project | 19 |  | 19 |  |  |  | (b)
Storm cost deferrals | 17 |  | 11 |  |  |  | (b)
AMI | 12 |  | 13 |  |  |  | 2031
Other | 54 |  | 48 |  |  |  | (b)
Total regulatory assets | 1,153 |  | 996 |  |  |  |
Less: Current portion | 113 |  | 102 |  |  |  |
Total noncurrent regulatory assets | $ | 1,040 |  | $ | 894 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
Net regulatory liability related to income taxes | $ | 725 |  | $ | 794 |  |  |  | (b)
COR regulatory liability | 434 |  | 496 |  |  |  | (d)
Accrued pension and OPEB | 139 |  | 109 |  |  |  | (e)
Hedge cost deferrals | 103 |  | 77 |  |  |  | (b)
Deferred fuel and purchased power | 21 |  | 23 |  |  |  | 2025
Other | 165 |  | 169 |  |  |  | (b)
Total regulatory liabilities | 1,587 |  | 1,668 |  |  |  |
Less: Current portion | 183 |  | 209 |  |  |  |
Total noncurrent regulatory liabilities | $ | 1,404 |  | $ | 1,459 |  |  |  |
(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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
Accrued pension and OPEB(c) | 144 |  | 129 |  |  |  | (g)
Deferred pipeline integrity costs(c) | 101 |  | 103 |  |  |  | 2034
Derivatives – natural gas supply contracts(f) | 94 |  | 147 |  |  |  |
Decoupling | 77 |  | 75 |  |  | (e) | (b)
Tennessee ARM Deferral | 33 |  | 20 |  |  | (e) | (b)
AROs – nuclear and other | 29 |  | $ | 26 |  |  |  | (d)
Customer connect project(c) | 24 |  | 9 |  |  |  | 2030
Vacation accrual | 14 |  | 13 |  |  |  | 2025
Pipeline Integrity Management – Transmission/Distribution | 14 |  | — |  |  |  | (b)
Other | 49 |  | 49 |  |  | (e) | (b)
Total regulatory assets | 579 |  | 571 |  |  |  |
Less: Current portion | 158 |  | 161 |  |  |  |
Total noncurrent regulatory assets | $ | 421 |  | $ | 410 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
COR regulatory liability(c) | $ | 539 |  | 555 |  |  |  | (d)
Net regulatory liability related to income taxes | 405 |  | $ | 433 |  |  |  | (b)
Other | 80 |  | 98 |  |  | (e) | (b)
Total regulatory liabilities | 1,024 |  | 1,086 |  |  |  |
Less: Current portion | 68 |  | 98 |  |  |  |
Total noncurrent regulatory liabilities | $ | 956 |  | $ | 988 |  |  |  |
(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) | 2024 | 2023 |  | a Return | Period Ends
Regulatory Assets(a) |  |  |  |  |
Accrued pension and OPEB(c) | 144 |  | 129 |  |  |  | (g)
Deferred pipeline integrity costs(c) | 101 |  | 103 |  |  |  | 2034
Derivatives – natural gas supply contracts(f) | 94 |  | 147 |  |  |  |
Decoupling | 77 |  | 75 |  |  | (e) | (b)
Tennessee ARM Deferral | 33 |  | 20 |  |  | (e) | (b)
AROs – nuclear and other | 29 |  | $ | 26 |  |  |  | (d)
Customer connect project(c) | 24 |  | 9 |  |  |  | 2030
Vacation accrual | 14 |  | 13 |  |  |  | 2025
Pipeline Integrity Management – Transmission/Distribution | 14 |  | — |  |  |  | (b)
Other | 49 |  | 49 |  |  | (e) | (b)
Total regulatory assets | 579 |  | 571 |  |  |  |
Less: Current portion | 158 |  | 161 |  |  |  |
Total noncurrent regulatory assets | $ | 421 |  | $ | 410 |  |  |  |
Regulatory Liabilities(a) |  |  |  |  |
COR regulatory liability(c) | $ | 539 |  | 555 |  |  |  | (d)
Net regulatory liability related to income taxes | 405 |  | $ | 433 |  |  |  | (b)
Other | 80 |  | 98 |  |  | (e) | (b)
Total regulatory liabilities | 1,024 |  | 1,086 |  |  |  |
Less: Current portion | 68 |  | 98 |  |  |  |
Total noncurrent regulatory liabilities | $ | 956 |  | $ | 988 |  |  |  |
(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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