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Revenue
6 Months Ended
Jun. 30, 2018
Revenues [Abstract]  
Revenue

10. Revenue

The following disaggregates TEC’s revenue by major source for the three and six months ended June 30, 2018:

 

(millions)

Tampa

 

 

 

 

 

 

 

 

 

 

Tampa Electric

 

Three months ended June 30, 2018

Electric

 

 

PGS

 

 

Eliminations

 

 

Company

 

Electric revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

$

241

 

 

$

0

 

 

$

0

 

 

$

241

 

Commercial

 

140

 

 

 

0

 

 

 

0

 

 

 

140

 

Industrial

 

40

 

 

 

0

 

 

 

0

 

 

 

40

 

Regulatory deferrals and unbilled revenue

 

24

 

 

 

0

 

 

 

0

 

 

 

24

 

Other (1)

 

65

 

 

 

0

 

 

 

(1

)

 

 

64

 

Total electric revenue

 

510

 

 

 

0

 

 

 

(1

)

 

 

509

 

Gas revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

0

 

 

 

35

 

 

 

0

 

 

 

35

 

Commercial

 

0

 

 

 

37

 

 

 

0

 

 

 

37

 

Industrial (2)

 

0

 

 

 

6

 

 

 

0

 

 

 

6

 

Other (3)

 

0

 

 

 

37

 

 

 

(5

)

 

 

32

 

Total gas revenue

 

0

 

 

 

115

 

 

 

(5

)

 

 

110

 

Total revenue

$

510

 

 

$

115

 

 

$

(6

)

 

$

619

 

Six months ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electric revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

$

471

 

 

$

0

 

 

$

0

 

 

$

471

 

Commercial

 

272

 

 

 

0

 

 

 

0

 

 

 

272

 

Industrial

 

78

 

 

 

0

 

 

 

0

 

 

 

78

 

Regulatory deferrals and unbilled revenue

 

23

 

 

 

0

 

 

 

0

 

 

 

23

 

Other (1)

 

127

 

 

 

0

 

 

 

(1

)

 

 

126

 

Total electric revenue

 

971

 

 

 

0

 

 

 

(1

)

 

 

970

 

Gas revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

0

 

 

 

91

 

 

 

0

 

 

 

91

 

Commercial

 

0

 

 

 

81

 

 

 

0

 

 

 

81

 

Industrial (2)

 

0

 

 

 

11

 

 

 

0

 

 

 

11

 

Other (3)

 

0

 

 

 

74

 

 

 

(11

)

 

 

63

 

Total gas revenue

 

0

 

 

 

257

 

 

 

(11

)

 

 

246

 

Total revenue

$

971

 

 

$

257

 

 

$

(12

)

 

$

1,216

 

 

(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 June 30, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $140 million. As allowed by the practical expedient in 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 2033.