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Debt and Credit Facilities
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt and Credit Facilities DEBT AND CREDIT FACILITIES
SUMMARY OF SIGNIFICANT DEBT ISSUANCES
The following table summarizes significant debt issuances (in millions).
Nine Months Ended September 30, 2025
Duke DukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressOhioIndiana
Unsecured Debt
August 2025(e)
September 2030
5.410 %$68 $— $— $— $68 $— 
August 2025(e)
September 2035
6.010 %43 — — — 43 — 
August 2025(e)
September 2037
6.110 %40 — — — 40 — 
September 2025(f)
September 2035
4.950 %1,000 1,000 — — — — 
September 2025(f)
September 2055
5.700 %750 750 — — — — 
Secured Debt
September 2025(g)
July 2037
4.226 %200 $— 200 $— $— $— 
September 2025(g)
January 2048
5.070 %382 — 382 — — — 
September 2025(g)
January 2048
4.890 %461 — — 461 — — 
First Mortgage Bonds
January 2025(a)
March 2030
4.850 %$400 $— $400 $— $— $— 
January 2025(a)
March 2035
5.250 %700 — 700 — — — 
March 2025(b)
March 2027
4.350 %500 — — 500 — — 
March 2025(b)
March 2035
5.050 %850 — — 850 — — 
March 2025(b)
March 2055
5.550 %750 — — 750 — — 
May 2025(c)
May 2055
5.900 %300 — — — — 300 
June 2025(d)
June 2035
5.300 %350 — — — 350 — 
Total issuances$6,794 $1,750 $1,682 $2,561 $501 $300 
(a)Proceeds were used to repay the $500 million DERF accounts receivable securitization facility due January 2025, to pay down short-term debt and for general company purposes.
(b)Proceeds were used to repay the $400 million DEPR accounts receivable securitization facility due April 2025, to pay down short-term debt and for general company purposes.
(c)Proceeds were used to pay down short-term debt and for general company purposes.
(d)Proceeds were used to repay $150 million of maturities due June 2025, to pay down short-term debt and for general corporate purposes.
(e)Proceeds were used to repay $95 million of maturities due October 2025, pay down short-term debt and for general corporate purposes and will be used to repay $45 million of maturities due January 2026.
(f)Proceeds were used to repay $650 million of maturities due September 2025, to pay down short-term debt and for general corporate purposes and will be used to repay $500 million of maturities due December 2025.
(g)Proceeds from storm recovery bonds were used to repay the Duke Energy Carolinas and Duke Energy Progress term loan facilities and for general company purposes.
CURRENT MATURITIES OF LONG-TERM DEBT
The following table shows the significant components of Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.
(in millions)Maturity DateInterest RateSeptember 30, 2025
Unsecured Debt
Duke Energy Florida Term Loan Facility(a)
October 20254.916 %350 
Duke Energy Ohio(b)
October 20253.230 %95 
Duke Energy (Parent)December 20255.000 %500 
Duke Energy (Parent) Convertible Senior Notes
April 20264.125 %1,725 
Piedmont Term Loan Facility(a)
August 20265.025 %450 
Duke Energy (Parent)
September 20262.650 %1,500 
Duke Energy (Parent) Term Loan Facility(a)
September 20265.124 %1,200 
First Mortgage Bonds
Duke Energy Florida(a)(c)
October 2073
3.992 %200 
Duke Energy Florida(a)(c)
April 20743.992 %173 
Other(d)
259 
Current maturities of long-term debt$6,452 
(a)Debt has a floating interest rate.
(b)Current maturity relates to Duke Energy Kentucky.
(c)These first mortgage bonds are classified as Current maturities of long-term debt on the Condensed Consolidated Balance Sheets based on terms of the indentures, which could require repayment in less than 12 months if exercised by the bondholders.
(d)Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.
AVAILABLE CREDIT FACILITIES
Master Credit Facility
In March 2025, Duke Energy extended the termination date of its existing Master Credit Facility to March 2030 and increased its capacity from $9 billion to $10 billion. The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder.
The table below includes the current borrowing sublimits and available capacity under these credit facilities.
September 30, 2025
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions)Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$10,000 $3,925 $1,000 $1,125 $1,150 $950 $800 $1,050 
Reduction to backstop issuances
Commercial paper(b)
(2,409)(1,350)(370)(150)(170)(25)(150)(194)
Outstanding letters of credit(7)(2)(4)(1)— — — — 
Tax-exempt bonds(81)— — — — — (81)— 
Available capacity under the Master Credit Facility$7,503 $2,573 $626 $974 $980 $925 $569 $856 
(a)Represents the sublimit of each borrower.
(b)Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies on the Condensed Consolidated Balance Sheets.
Term Loan Facilities
Duke Energy (Parent)
Duke Energy (Parent) entered into a Term Loan Credit Facility (facility) with commitments totaling $1.4 billion that matured in March 2024. In January 2024, Duke Energy (Parent) repaid the remaining $1 billion outstanding on the facility.
Duke Energy (Parent) entered into a 364-day term loan facility with commitments totaling $2 billion maturing September 2026. As of September 30, 2025, $1.2 billion was drawn under the term loan facility, which was classified as Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. Borrowings were used to pay down short-term debt and for general corporate purposes.
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida
In November 2024, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida entered into term loan facilities intended to meet incremental financing needs resulting from expenditures for the restoration of service and rebuilding of infrastructure related to hurricanes Debby, Helene and Milton as described in Note 4. Duke Energy Carolinas and Duke Energy Progress entered into two-year term loan facilities with commitments totaling $700 million and $250 million, respectively. Duke Energy Florida entered into a 364-day term loan facility with commitments totaling $800 million. As of December 31, 2024, $455 million and $185 million in borrowings under the term loan facilities for Duke Energy Carolinas and Duke Energy Progress, respectively, were classified as Long-Term Debt and $100 million in borrowings for Duke Energy Florida was classified as Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. As of April 2025, the remaining amounts available were drawn on all three term loans.
In September 2025, Duke Energy Carolinas and Duke Energy Progress repaid their respective term loan facilities. In the third quarter of 2025, Duke Energy Florida repaid $450 million of borrowings on its outstanding term loan facility, leaving $350 million in borrowings classified as Current maturities of long-term debt on the Condensed Consolidated Balance Sheets as of September 30, 2025. The remaining $350 million was repaid in October 2025.
Piedmont
Piedmont entered into a 364-day term loan facility with commitments totaling $450 million maturing August 2026. In September 2025, $450 million was drawn under the term loan facility, which was classified as Current maturities of long-term debt on the Condensed Consolidated Balance Sheets as of September 30, 2025. Proceeds were used to repay $150 million of maturities due September 2025, to pay down short-term debt and for general corporate purposes.
Other Debt Matters
In September 2025, Duke Energy filed a Form S-3 with the SEC. Under this Form S-3, which is uncapped, the Duke Energy Registrants, excluding Progress Energy and Piedmont, may issue debt and other securities in the future at amounts, prices and with terms to be determined at the time of future offerings. The registration statement was filed to replace a similar prior filing upon expiration of its three-year term and also allows for the issuance of common and preferred stock by Duke Energy. Also in September 2025, Duke Energy filed a Form S-3 that allows Duke Energy to sell up to $4 billion of variable denomination floating-rate demand notes, called PremierNotes. The Form S-3 states that no more than $2 billion of the notes will be outstanding at any particular time.