v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Duke Energy earns substantially all of its revenues through its reportable segments, EU&I and GU&I.
Electric Utilities and Infrastructure
EU&I earns the majority of its revenues through retail and wholesale electric service through the generation, transmission, distribution and sale of electricity. Duke Energy generally provides retail and wholesale electric service customers with their full electric load requirements or with supplemental load requirements when the customer has other sources of electricity.
The majority of wholesale revenues are full requirements contracts where the customers purchase the substantial majority of their energy needs and do not have a fixed quantity of contractually required energy or capacity. As such, related forecasted revenues are considered optional purchases. Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations as of March 31, 2026:
Remaining Performance Obligations
(in millions)20262027202820292030ThereafterTotal
Duke Energy Carolinas$9 $12 $12 $— $— $— $33 
Progress Energy33 43 13 13 15 29 146 
Duke Energy Progress4 6 6 6 8 14 44 
Duke Energy Florida29 37 7 7 7 15 102 
Duke Energy Indiana3 2 — — — — 5 
Revenues for block sales are recognized monthly as energy is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates.
Gas Utilities and Infrastructure
GU&I earns its revenue through retail and wholesale natural gas service through the transportation, distribution and sale of natural gas. Duke Energy generally provides retail and wholesale natural gas service customers with all natural gas load requirements. Additionally, while natural gas can be stored, substantially all natural gas provided by Duke Energy is consumed by customers simultaneously with receipt of delivery.
Fixed-capacity payments under long-term contracts for the GU&I segment include minimum margin contracts and supply arrangements with municipalities and power generation facilities. Revenues for related sales are recognized monthly as natural gas is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates. Estimated remaining performance obligations as of March 31, 2026, are as follows:
Remaining Performance Obligations
(in millions)20262027202820292030ThereafterTotal
Piedmont$40 $48 $45 $44 $42 $109 $328 
Other
The remainder of Duke Energy’s operations is presented as Other, which does not include material revenues from contracts with customers.
Disaggregated Revenues
Disaggregated revenues are presented as follows:
Three Months Ended March 31, 2026
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$3,619 $1,160 $1,738 $875 $863 $302 $420 $— 
Commercial
2,030 699 911 444 467 153 267 — 
   Industrial827 327 264 186 78 34 204 — 
   Wholesale870 166 600 525 75 60 43 — 
   Other revenues330 339 296 201 95 27 11 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$7,676 $2,691 $3,809 $2,231 $1,578 $576 $945 $— 
Gas Utilities and Infrastructure
   Residential$790 $— $— $— $— $213 $— $577 
   Commercial374 — — — — 83 — 291 
   Industrial62 — — — — 16 — 46 
   Power Generation— — — — — — — 9 
   Other revenues88 — — — — 4 — 88 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,314 $— $— $— $— $316 $— $1,011 
Other
Revenue from contracts with customers$5 $— $— $— $— $— $— $— 
Total Revenue from contracts with customers$8,995 $2,691 $3,809 $2,231 $1,578 $892 $945 $1,011 
Other revenue sources(a)
$183 $75 $116 $70 $43 $(13)$21 $— 
Total operating revenues
$9,178 $2,766 $3,925 $2,301 $1,621 $879 $966 $1,011 
Three Months Ended March 31, 2025
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$3,403 $1,127 $1,614 $820 $794 $282 $379 $— 
Commercial
1,921 701 845 415 430 142 233 — 
   Industrial823 334 267 193 74 33 187 — 
   Wholesale670 149 443 404 39 22 57 — 
   Other revenues236 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 
   Commercial322 — — — — 70 — 252 
   Industrial55 — — — — 16 — 39 
   Power Generation— — — — — — — 24 
   Other revenues74 — — — — 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 
(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
The following table presents the reserve for credit losses for trade and other receivables.
Three Months Ended March 31, 2025 and 2026
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2024$207 $69 $73 $44 $29 $43 $15 $7 
Write-Offs(29)(14)(15)(8)(7)— — — 
Credit Loss Expense14 5 8 5 3 1 — — 
Other Adjustments9 4 1 1 — 2 2 — 
Balance at March 31, 2025$201 $64 $67 $42 $25 $46 $17 $7 
Balance at December 31, 2025$194 $55 $65 $38 $27 $51 $15 $6 
Write-Offs(27)(7)(10)(6)(4)(7)(2)(1)
Credit Loss Expense35 10 10 7 3 8 3 4 
Other Adjustments(1)(1)— — — — — — 
Balance at March 31, 2026$201 $57 $65 $39 $26 $52 $16 $9 
Trade and other receivables are evaluated based on an estimate of the risk of loss over the life of the receivable and current and historical conditions using supportable assumptions. Management evaluates the risk of loss for trade and other receivables by comparing the historical write-off amounts to total revenue over a specified period. Historical loss rates are adjusted due to the impact of current conditions, as well as forecasted conditions over a reasonable time period. The calculated write-off rate can be applied to the receivable balance for which an established reserve does not already exist. Management reviews the assumptions and risk of loss periodically for trade and other receivables.