Revenue

6 Months Ended

Jun. 30, 2022

Revenues [Abstract]

Revenue

10. Revenue
 

The following disaggregates TEC’s revenue by major source:

(millions)	Tampa								Tampa Electric
Three months ended June 30, 2022	Electric			PGS		Eliminations			Company
Electric revenue
Residential	$	348		$	0	$	0		$	348
Commercial		170			0		0			170
Industrial		47			0		0			47
Regulatory deferrals and unbilled revenue		16			0		0			16
Other (1)		82			0		(1	)		81
Total electric revenue		663			0		(1	)		662
Gas revenue
Residential		0			50		0			50
Commercial		0			49		0			49
Industrial (2)		0			8		0			8
Other (3)		0			53		(1	)		52
Total gas revenue		0			160		(1	)		159
Total revenue	$	663		$	160	$	(2	)	$	821
Three months ended June 30, 2021
Electric revenue
Residential	$	276		$	0	$	0		$	276
Commercial		144			0		0			144
Industrial		41			0		0			41
Regulatory deferrals and unbilled revenue		11			0		0			11
Other (1)		60	`		0		(1	)		59
Total electric revenue		532			0		(1	)		531
Gas revenue
Residential		0			49		0			49
Commercial		0			46		0			46
Industrial (2)		0			6		0			6
Other (3)		0			22		0			22
Total gas revenue		0			123		0			123
Total revenue	$	532		$	123	$	(1	)	$	654

(millions)	Tampa							Tampa Electric
Six months ended June 30, 2022	Electric		PGS		Eliminations			Company
Electric revenue
Residential	$	618	$	0	$	0		$	618
Commercial		307		0		0			307
Industrial		84		0		0			84
Regulatory deferrals and unbilled revenue		19		0		0			19
Other (1)		145		0		(2	)		143
Total electric revenue		1,173		0		(2	)		1,171
Gas revenue
Residential		0		125		0			125
Commercial		0		105		0			105
Industrial (2)		0		15		0			15
Other (3)		0		98		(2	)		96
Total gas revenue		0		343		(2	)		341
Total revenue	$	1,173	$	343	$	(4	)	$	1,512
Six months ended June 30, 2021
Electric revenue
Residential	$	508	$	0	$	0		$	508
Commercial		270		0		0			270
Industrial		78		0		0			78
Regulatory deferrals and unbilled revenue		9		0		0			9
Other (1)		114		0		(2	)		112
Total electric revenue		979		0		(2	)		977
Gas revenue
Residential		0		116		0			116
Commercial		0		99		0			99
Industrial (2)		0		12		0			12
Other (3)		0		51		(2	)		49
Total gas revenue		0		278		(2	)		276
Total revenue	$	979	$	278	$	(4	)	$	1,253

(1)Other electric revenue includes sales to public authorities, off-system sales to other utilities and various other items.

(2)Industrial gas revenue includes sales to power generation customers.

(3)Other gas revenue includes off-system sales to other utilities and various other items.

Remaining Performance Obligations

Remaining performance obligations primarily represent lighting contracts and gas transportation contracts with fixed contract terms. As of June 30, 2022 and December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $130 million and $135 million, respectively. As allowed under ASC 606, these amounts exclude contracts with an original expected length of one year or less and variable amounts for which TEC recognizes revenue at the amount to which it has the right to invoice for services performed. TEC expects to recognize revenue for the remaining performance obligations through 2041.