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v3.25.1

Revenue (Tables) | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations:
| Remaining Performance Obligations
(in millions) | 2025 | 2026 | 2027 | 2028 | 2029 | Thereafter | Total
Duke Energy Carolinas | $ | 9 |  | $ | 12 |  | $ | 12 |  | $ | 12 |  | $ | — |  | $ | — |  | $ | 45 |
Progress Energy | 21 |  | 43 |  | 13 |  | 13 |  | 13 |  | 42 |  | 145 |
Duke Energy Progress | 4 |  | 6 |  | 6 |  | 6 |  | 6 |  | 20 |  | 48 |
Duke Energy Florida | 17 |  | 37 |  | 7 |  | 7 |  | 7 |  | 22 |  | 97 |
Duke Energy Indiana | 13 |  | 17 |  | 15 |  | 5 |  | — |  | — |  | 50 |
Estimated remaining performance obligations are as follows:
| Remaining Performance Obligations
(in millions) | 2025 | 2026 | 2027 | 2028 | 2029 | Thereafter | Total
Piedmont | $ | 48 |  | $ | 51 |  | $ | 49 |  | $ | 46 |  | $ | 44 |  | $ | 151 |  | $ | 389 |
Disaggregation of Revenue | Disaggregated revenues are presented as follows:
| Three Months Ended March 31, 2025
|  | Duke |  | Duke | Duke | Duke | Duke |
(in millions) | Duke | Energy | Progress | Energy | Energy | Energy | Energy |
By market or type of customer | Energy | Carolinas | Energy | Progress | Florida | Ohio | Indiana | Piedmont
Electric Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 3,403 |  | $ | 1,127 |  | $ | 1,614 |  | $ | 820 |  | $ | 794 |  | $ | 282 |  | $ | 379 |  | $ | — |
Commercial | 1,921 |  | 701 |  | 845 |  | 415 |  | 430 |  | 142 |  | 233 |  | — |
Industrial | 823 |  | 334 |  | 267 |  | 193 |  | 74 |  | 33 |  | 187 |  | — |
Wholesale | 670 |  | 149 |  | 443 |  | 404 |  | 39 |  | 22 |  | 57 |  | — |
Other revenues | 236 |  | 180 |  | 239 |  | 163 |  | 76 |  | 18 |  | (1) |  | — |
Total Electric Utilities and Infrastructure revenue from contracts with customers | $ | 7,053 |  | $ | 2,491 |  | $ | 3,408 |  | $ | 1,995 |  | $ | 1,413 |  | $ | 497 |  | $ | 855 |  | $ | — |
Gas Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 706 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 186 |  | $ | — |  | $ | 520 |
Commercial | 322 |  | — |  | — |  | — |  | — |  | 70 |  | — |  | 252 |
Industrial | 55 |  | — |  | — |  | — |  | — |  | 16 |  | — |  | 39 |
Power Generation | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 24 |
Other revenues | 74 |  | — |  | — |  | — |  | — |  | 6 |  | — |  | 53 |
Total Gas Utilities and Infrastructure revenue from contracts with customers | $ | 1,157 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 278 |  | $ | — |  | $ | 888 |
Other |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 8 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Total Revenue from contracts with customers | $ | 8,218 |  | $ | 2,491 |  | $ | 3,408 |  | $ | 1,995 |  | $ | 1,413 |  | $ | 775 |  | $ | 855 |  | $ | 888 |
Other revenue sources(a) | $ | 31 |  | $ | 33 |  | $ | 59 |  | $ | 23 |  | $ | 31 |  | $ | (9) |  | $ | 3 |  | $ | (31) |
Total operating revenues | $ | 8,249 |  | $ | 2,524 |  | $ | 3,467 |  | $ | 2,018 |  | $ | 1,444 |  | $ | 766 |  | $ | 858 |  | $ | 857 |
| Three Months Ended March 31, 2024
|  | Duke |  | Duke | Duke | Duke | Duke |
(in millions) | Duke | Energy | Progress | Energy | Energy | Energy | Energy |
By market or type of customer | Energy | Carolinas | Energy | Progress | Florida | Ohio | Indiana | Piedmont
Electric Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 3,115 |  | $ | 1,058 |  | $ | 1,517 |  | $ | 742 |  | $ | 775 |  | $ | 253 |  | $ | 287 |  | $ | — |
Commercial | 1,934 |  | 717 |  | 866 |  | 422 |  | 444 |  | 152 |  | 201 |  | — |
Industrial | 822 |  | 340 |  | 266 |  | 177 |  | 89 |  | 32 |  | 183 |  | — |
Wholesale | 554 |  | 138 |  | 355 |  | 326 |  | 29 |  | 14 |  | 48 |  | — |
Other revenues | 253 |  | 99 |  | 149 |  | 78 |  | 71 |  | 22 |  | 34 |  | — |
Total Electric Utilities and Infrastructure revenue from contracts with customers | $ | 6,678 |  | $ | 2,352 |  | $ | 3,153 |  | $ | 1,745 |  | $ | 1,408 |  | $ | 473 |  | $ | 753 |  | $ | — |
Gas Utilities and Infrastructure |  |  |  |  |  |  |  |
Residential | $ | 520 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 147 |  | $ | — |  | $ | 373 |
Commercial | 240 |  | — |  | — |  | — |  | — |  | 57 |  | — |  | 183 |
Industrial | 47 |  | — |  | — |  | — |  | — |  | 11 |  | — |  | 38 |
Power Generation | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 8 |
Other revenues | 40 |  | — |  | — |  | — |  | — |  | 5 |  | — |  | 35 |
Total Gas Utilities and Infrastructure revenue from contracts with customers | $ | 847 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 220 |  | $ | — |  | $ | 637 |
Other |  |  |  |  |  |  |  |
Revenue from contracts with customers | $ | 7 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Total Revenue from contracts with customers | $ | 7,532 |  | $ | 2,352 |  | $ | 3,153 |  | $ | 1,745 |  | $ | 1,408 |  | $ | 693 |  | $ | 753 |  | $ | 637 |
Other revenue sources(a) | $ | 139 |  | $ | 55 |  | $ | 75 |  | $ | 43 |  | $ | 28 |  | $ | (15) |  | $ | 6 |  | $ | 39 |
Total operating revenues | $ | 7,671 |  | $ | 2,407 |  | $ | 3,228 |  | $ | 1,788 |  | $ | 1,436 |  | $ | 678 |  | $ | 759 |  | $ | 676 |
(a)Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
Reserve for Credit Losses for Trade and Other Receivables | The following table presents the reserve for credit losses for trade and other receivables.
| Three Months Ended March 31, 2024 and 2025
|  | Duke |  | Duke | Duke | Duke | Duke |
| Duke | Energy | Progress | Energy | Energy | Energy | Energy |
(in millions) | Energy | Carolinas | Energy | Progress | Florida | Ohio | Indiana | Piedmont
Balance at December 31, 2023 | $ | 205 |  | $ | 56 |  | $ | 74 |  | $ | 44 |  | $ | 31 |  | $ | 9 |  | $ | 5 |  | $ | 11 |
Write-Offs | (32) |  | (12) |  | (16) |  | (7) |  | (9) |  | — |  | — |  | (1) |
Credit Loss Expense | 10 |  | 7 |  | 9 |  | 4 |  | 5 |  | 1 |  | 2 |  | 2 |
Other Adjustments | 21 |  | 11 |  | 6 |  | 6 |  | — |  | 31 |  | 9 |  | — |
Balance at March 31, 2024 | $ | 204 |  | $ | 62 |  | $ | 73 |  | $ | 47 |  | $ | 27 |  | $ | 41 |  | $ | 16 |  | $ | 12 |
Balance at December 31, 2024 | $ | 209 |  | $ | 69 |  | $ | 73 |  | $ | 44 |  | $ | 29 |  | $ | 43 |  | $ | 15 |  | $ | 10 |
Write-Offs | (29) |  | (14) |  | (15) |  | (8) |  | (7) |  | — |  | — |  | — |
Credit Loss Expense | 14 |  | 5 |  | 8 |  | 5 |  | 3 |  | 1 |  | — |  | — |
Other Adjustments | 10 |  | 4 |  | 1 |  | 1 |  | — |  | 2 |  | 2 |  | — |
Balance at March 31, 2025 | $ | 204 |  | $ | 64 |  | $ | 67 |  | $ | 42 |  | $ | 25 |  | $ | 46 |  | $ | 17 |  | $ | 10 |

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