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Revenue
3 Months Ended
Mar. 31, 2020
Revenues [Abstract]  
Revenue

10. Revenue

The following disaggregates TEC’s revenue by major source:

 

(millions)

Tampa

 

 

 

 

 

 

 

 

 

 

Tampa Electric

 

Three months ended March 31, 2020

Electric

 

 

PGS

 

 

Eliminations

 

 

Company

 

Electric revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

$

205

 

 

$

0

 

 

$

0

 

 

$

205

 

Commercial

 

125

 

 

 

0

 

 

 

0

 

 

 

125

 

Industrial

 

37

 

 

 

0

 

 

 

0

 

 

 

37

 

Regulatory deferrals and unbilled revenue

 

(2

)

 

 

0

 

 

 

0

 

 

 

(2

)

Other (1)

 

56

 

 

 

0

 

 

 

(1

)

 

 

55

 

Total electric revenue

 

421

 

 

 

0

 

 

 

(1

)

 

 

420

 

Gas revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

0

 

 

 

48

 

 

 

0

 

 

 

48

 

Commercial

 

0

 

 

 

41

 

 

 

0

 

 

 

41

 

Industrial (2)

 

0

 

 

 

6

 

 

 

0

 

 

 

6

 

Other (3)

 

0

 

 

 

34

 

 

 

(2

)

 

 

32

 

Total gas revenue

 

0

 

 

 

129

 

 

 

(2

)

 

 

127

 

Total revenue

$

421

 

 

$

129

 

 

$

(3

)

 

$

547

 

Three months ended March 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electric revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

$

206

 

 

$

0

 

 

$

0

 

 

$

206

 

Commercial

 

120

 

 

 

0

 

 

 

0

 

 

 

120

 

Industrial

 

34

 

 

 

0

 

 

 

0

 

 

 

34

 

Regulatory deferrals and unbilled revenue

 

(7

)

 

 

0

 

 

 

0

 

 

 

(7

)

Other (1)

 

59

 

 

 

0

 

 

 

(1

)

 

 

58

 

Total electric revenue

 

412

 

 

 

0

 

 

 

(1

)

 

 

411

 

Gas revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

0

 

 

 

50

 

 

 

0

 

 

 

50

 

Commercial

 

0

 

 

 

42

 

 

 

0

 

 

 

42

 

Industrial (2)

 

0

 

 

 

5

 

 

 

0

 

 

 

5

 

Other (3)

 

0

 

 

 

36

 

 

 

(5

)

 

 

31

 

Total gas revenue

 

0

 

 

 

133

 

 

 

(5

)

 

 

128

 

Total revenue

$

412

 

 

$

133

 

 

$

(6

)

 

$

539

 

 

(1)    Other electric revenue includes sales to public authorities, off-system sales to other utilities and various other items.

(2)    Industrial gas revenue includes sales to power generation customers.

(3)    Other gas revenue 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 March 31, 2020 and December 31, 2019, 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.