Short-Term Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Short-Term Debt Credit Facilities

Credit Facilities

	December 31, 2024								December 31, 2023
			Borrowings		Borrowings		Letters				Borrowings		Borrowings		Letters
	Credit		Outstanding -		Outstanding -		of Credit		Credit		Outstanding -		Outstanding -		of Credit
(millions)	Facilities		Credit Facilities (1)		Commercial Paper (1)		Outstanding		Facilities		Credit Facilities (1)		Commercial Paper (1)		Outstanding
5-year facility (2)	$	800	$	0	$	636	$	1	$	800	$	0	$	706	$	1
1-year term facility (3)		0		0		0		0		200		0		0		0
1-year term facility (4)		0		0		0		0		200		0		0		0
Total	$	800	$	0	$	636	$	1	$	1,200	$	0	$	706	$	1

(1)Borrowings outstanding are reported as notes payable in the Consolidated Balance Sheets.

(2)On April 1, 2024, TEC amended the credit facility agreement to extend the maturity date to December 1, 2028. TEC also has an active commercial paper program for up to $800 million, of which the full amount outstanding is backed by TEC’s credit facility. The amount of commercial paper issued results in an equal amount of its credit facility being considered drawn and unavailable. On January 30, 2024, TEC completed a sale of $500 million aggregate principal amount of 4.90% Notes due March 1, 2029. TEC used the net proceeds from this offering for the repayment of a portion of the borrowings outstanding under the 5-year credit facility. Therefore, $497 million of borrowings outstanding under the 5-year credit facility were reclassified as long-term debt on the Consolidated Balance Sheet as of December 31, 2023.

(3)On March 1, 2023, TEC entered into a 1-year term facility that matured on February 28, 2024.

(4)On April 3, 2023, TEC entered into a 1-year term facility that matured on April 1, 2024.