Revenue

12 Months Ended

Dec. 31, 2022

Revenues [Abstract]

Revenue

9. Revenue

The following disaggregates TEC’s revenue by major source:

(millions)	Tampa								Tampa Electric
For the year ended December 31, 2022	Electric			PGS		Eliminations			Company
Electric revenue
Residential	$	1,381		$	0	$	0		$	1,381
Commercial		666			0		0			666
Industrial		176			0		0			176
Regulatory deferrals and unbilled revenue		(12	)		0		0			(12	)
Other (1)		312			0		(4	)		308
Total electric revenue		2,523			0		(4	)		2,519
Gas revenue
Residential		0			229		0			229
Commercial		0			200		0			200
Industrial (2)		0			31		0			31
Other (3)		0			196		(6	)		190
Total gas revenue		0			656		(6	)		650
Total revenue	$	2,523		$	656	$	(10	)	$	3,169
For the year ended December 31, 2021
Electric revenue
Residential	$	1,156		$	0	$	0		$	1,156
Commercial		602			0		0			602
Industrial		172			0		0			172
Regulatory deferrals and unbilled revenue		(8	)		0		0			(8	)
Other (1)		252			0		(4	)		248
Total electric revenue		2,174			0		(4	)		2,170
Gas revenue
Residential		0			212		0			212
Commercial		0			191		0			191
Industrial (2)		0			25		0			25
Other (3)		0			100		(3	)		97
Total gas revenue		0			528		(3	)		525
Total revenue	$	2,174		$	528	$	(7	)	$	2,695
For the year ended December 31, 2020
Electric revenue
Residential	$	1,018		$	0	$	0		$	1,018
Commercial		506			0		0			506
Industrial		133			0		0			133
Regulatory deferrals and unbilled revenue		(25	)		0		0			(25	)
Other (1)		217			0		(4	)		213
Total electric revenue		1,849			0		(4	)		1,845
Gas revenue
Residential		0			158		0			158
Commercial		0			135		0			135
Industrial (2)		0			23		0			23
Other (3)		0			117		(6	)		111
Total gas revenue		0			433		(6	)		427
Total revenue	$	1,849		$	433	$	(10	)	$	2,272

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

(2)Industrial includes sales to power generation customers.

(3)Other 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 December 31, 2022 and 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $140 million and $135 million, respectively. The 2022 amount includes $11 million of future performance obligations related to an asset management agreement with Emera Energy, a related party, through 2025. As allowed under ASC 606, this amount excludes 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 2042.