Revenue

12 Months Ended

Dec. 31, 2023

Revenues [Abstract]

Revenue

9. Revenue

The following disaggregates TEC’s revenue by major source:

(millions)	Tampa								Tampa Electric
For the year ended December 31, 2023	Electric			PGS		Eliminations			Company
Electric revenue
Residential	$	1,711							$	1,711
Commercial		803								803
Industrial		203								203
Regulatory deferrals		(387	)							(387	)
Unbilled revenue		(2	)							(2	)
Other (1)		309								309
Total electric revenue		2,637								2,637
Total revenue	$	2,637							$	2,637
For the year ended December 31, 2022
Electric revenue
Residential	$	1,381		$	0	$	0		$	1,381
Commercial		666			0		0			666
Industrial		176			0		0			176
Regulatory deferrals		(21	)		0		0			(21	)
Unbilled revenue		9			0		0			9
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		(6	)		0		0			(6	)
Unbilled revenue		(2	)		0		0			(2	)
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

(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, prior to January 1, 2023, gas transportation contracts with fixed contract terms. As of December 31, 2023 and 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $78 million and $140 million, respectively. The decrease is due to TEC's January 1, 2023 separation from its former PGS division. See Note 1 for further information regarding the separation of PGS from TEC. 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 2043.