Duke Energy 2015 Annual Report Download - page 169

149
PART II
DUKE ENERGY CORPORATION • DUKE ENERGY CAROLINAS, LLC • PROGRESS ENERGY, INC. •
DUKE ENERGY PROGRESS, LLC • DUKE ENERGY FLORIDA, LLC • DUKE ENERGY OHIO, INC. • DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
Nuclear Operating Licenses
Operating licenses for nuclear units are potentially subject to extension.
The following table includes the current expiration of nuclear operating licenses.
Duke Energy Florida has requested the NRC terminate the operating license for
Crystal River Unit 3 as it permanently ceased operation in February 2013. Refer
to Note 4 for further information on decommissioning activity and transition to
SAFSTOR.
Unit Year of Expiration
Duke Energy Carolinas
Catawba Units 1 and 2 2043
McGuire Unit 1 2041
McGuire Unit 2 2043
Oconee Units 1 and 2 2033
Oconee Unit 3 2034
Duke Energy Progress
Brunswick Unit 1 2036
Brunswick Unit 2 2034
Harris 2046
Robinson 2030
ARO Liability Rollforward
The following table presents changes in the liability associated with AROs.
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Balance at December 31, 2013 $ 4,958 $ 1,594 $ 2,570 $ 1,737 $ 833 $ 28 $ 30
Acquisitions 4 — — — — — —
Accretion expense(a) 246 113 135 97 38 2 2
Liabilities settled(b) (68) — (68) — (68) — —
Liabilities incurred in the current year(c) 3,500 1,717 1,783 1,783 — — —
Revisions in estimates of cash flows(d) (174) 4 291 288 3 (3) —
Balance at December 31, 2014 8,466 3,428 4,711 3,905 806 27 32
Acquisitions(e) 226 — 226 204 23 — —
Accretion expense(a) 384 165 203 169 34 4 15
Liabilities settled(b) (422) (200) (195) (125) (70) (4) (23)
Liabilities incurred in the current year(c) 1,016 178 282 282 — 116 418
Revisions in estimates of cash flows(f) 594 347 142 132 9 (18) 83
Balance at December 31, 2015 $ 10,264 $ 3,918 $ 5,369 $ 4,567 $ 802 $ 125 $ 525
(a) Substantially all accretion expense for the years ended December 31, 2015 and 2014 relates to Duke Energy’s regulated electric operations and has been deferred in accordance with regulatory accounting treatment.
(b) For 2014, amounts relate to nuclear decommissioning of Crystal River Unit 3. For 2015, amounts primarily relate to ash impoundment closures and nuclear decommissioning of Crystal River Unit 3.
(c) For 2014, amounts primarily relate to AROs recorded as a result of the Coal Ash Act and an agreement with the SCDHEC related to the W.S. Lee Steam Station. For 2015, amounts primarily relate to AROs recorded as a result
of the EPA’s rule for disposal of CCR.
(d) Amounts for Progress Energy and Duke Energy Progress primarily relate to Duke Energy Progress’ site-specific nuclear decommissioning cost studies. The Duke Energy amount also includes the impact of Duke Energy
Progress’ site-specific nuclear decommissioning cost studies on purchase accounting amounts.
(e) Duke Energy Progress amount relates to the NCEMPA acquisition. See Note 2 for additional information.
(f) Primarily relates to the closure of ash impoundments.