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Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2024

Public Utilities, General Disclosures [Line Items]

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


	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.

(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.

(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.

(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.

(d) Included in rate base.

(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.

(d) Included in rate base.

(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.

(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.

(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.

(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.

(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.

(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.

(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.

(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.

(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.