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Revenue
9 Months Ended
Sep. 30, 2018
Revenues [Abstract]  
Revenue

10. Revenue

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

 

(millions)

Tampa

 

 

 

 

 

 

 

 

 

 

Tampa Electric

 

Three months ended September 30, 2018

Electric

 

 

PGS

 

 

Eliminations

 

 

Company

 

Electric revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

$

331

 

 

$

0

 

 

$

0

 

 

$

331

 

Commercial

 

163

 

 

 

0

 

 

 

0

 

 

 

163

 

Industrial

 

43

 

 

 

0

 

 

 

0

 

 

 

43

 

Regulatory deferrals and unbilled revenue

 

(10

)

 

 

0

 

 

 

0

 

 

 

(10

)

Other (1)

 

67

 

 

 

0

 

 

 

(1

)

 

 

66

 

Total electric revenue

 

594

 

 

 

0

 

 

 

(1

)

 

 

593

 

Gas revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

0

 

 

 

29

 

 

 

0

 

 

 

29

 

Commercial

 

0

 

 

 

34

 

 

 

0

 

 

 

34

 

Industrial (2)

 

0

 

 

 

4

 

 

 

0

 

 

 

4

 

Other (3)

 

0

 

 

 

44

 

 

 

(7

)

 

 

37

 

Total gas revenue

 

0

 

 

 

111

 

 

 

(7

)

 

 

104

 

Total revenue

$

594

 

 

$

111

 

 

$

(8

)

 

$

697

 

Nine months ended September 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electric revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

$

802

 

 

$

0

 

 

$

0

 

 

$

802

 

Commercial

 

435

 

 

 

0

 

 

 

0

 

 

 

435

 

Industrial

 

121

 

 

 

0

 

 

 

0

 

 

 

121

 

Regulatory deferrals and unbilled revenue

 

13

 

 

 

0

 

 

 

0

 

 

 

13

 

Other (1)

 

194

 

 

 

0

 

 

 

(2

)

 

 

192

 

Total electric revenue

 

1,565

 

 

 

0

 

 

 

(2

)

 

 

1,563

 

Gas revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

0

 

 

 

120

 

 

 

0

 

 

 

120

 

Commercial

 

0

 

 

 

115

 

 

 

0

 

 

 

115

 

Industrial (2)

 

0

 

 

 

15

 

 

 

0

 

 

 

15

 

Other (3)

 

0

 

 

 

118

 

 

 

(18

)

 

 

100

 

Total gas revenue

 

0

 

 

 

368

 

 

 

(18

)

 

 

350

 

Total revenue

$

1,565

 

 

$

368

 

 

$

(20

)

 

$

1,913

 

 

(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 September 30, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $140 million. 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 2033.