Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

10. Related Party Transactions

A summary of activities between TEC and its affiliates follows:

Net transactions with affiliates:

(millions)	2023		2022			2021
Natural gas purchases (net of sales) from affiliates	$	65	$	232		$	236
Services to/(from) affiliates		28		(4	)		(7	)
Interest income from affiliate		38		0			0
Interest expense to affiliate		11		0			0
Dividends to TECO Energy		472		517			450
Equity contributions from TECO Energy		300		605			580

Amounts due from or to affiliates at December 31,

(millions)	2023		2022
Accounts receivable related to asset management agreements with Emera Energy Services Inc. (1)	$	4	$	7
Accounts receivable excluding asset management agreements (1)		12		5
Taxes receivable (2)		3		10
Accounts payable (1)		10		31
Note payable to TECO Energy (3)		0		195

(1)Accounts receivable and accounts payable were incurred in the ordinary course of business and do not bear interest.

(2)Taxes receivable were due from EUSHI and taxes payable were due to EUSHI. See Note 4 for additional information.

(3)The note payable with TECO Energy bears interest at a rate approximating the market rate of TEC's commercial paper.

See Note 6 for further information regarding related party transactions between TEC and PGS as a result of financing activities due to the separation of PGS from TEC on January 1, 2023..