XML 102 R59.htm IDEA: XBRL DOCUMENT v3.25.1
Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
The IRA established transferability markets for tax credits including nuclear PTCs, solar PTCs and ITCs. In April 2025, agreements were executed for the sale of approximately $643 million in net tax credits under the IRA. The sale primarily includes estimated nuclear PTCs of $478 million at Duke Energy Carolinas and $69 million at Duke Energy Progress, as well as estimated solar PTCs of $58 million at Duke Energy Florida to be earned through the end of 2025. Proceeds for the sale of the nuclear PTCs are expected to be received in November 2025.
EFFECTIVE TAX RATES
The ETRs from continuing operations for each of the Duke Energy Registrants are included in the following table.
Three Months Ended
March 31,
20252024
Duke Energy12.1 %13.4 %
Duke Energy Carolinas9.0 %11.5 %
Progress Energy16.8 %16.5 %
Duke Energy Progress14.5 %15.0 %
Duke Energy Florida19.9 %19.4 %
Duke Energy Ohio18.0 %16.8 %
Duke Energy Indiana12.5 %17.3 %
Piedmont20.7 %19.6 %
The decrease in the ETR for Duke Energy for the three months ended March 31, 2025, was primarily due to an increase in the amortization of income tax credits.
The decrease in the ETR for Duke Energy Carolinas for the three months ended March 31, 2025, was primarily due to an increase in the amortization of income tax credits.
The increase in the ETR for Duke Energy Ohio for the three months ending March 31, 2025, was primarily due to a decrease in the amortization of EDIT.
The decrease in the ETR for Duke Energy Indiana for the three months ended March 31, 2025, was primarily due to an increase in the amortization of EDIT.
The increase in the ETR for Piedmont for the three months ending March 31, 2025, was primarily due to a decrease in the amortization of EDIT.