Tampa Electric 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 11, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Registrant Name	TAMPA ELECTRIC COMPANY
Entity Interactive Data Current	Yes
Entity File Number	1-5007
Entity Address, Address Line One	TECO Plaza
Entity Address, Address Line Two	702 N. Franklin Street
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Tax Identification Number	59-0475140
Entity Incorporation, State or Country Code	FL
Entity Address, Postal Zip Code	33602
City Area Code	813
Local Phone Number	228-1111
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0000096271
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		10

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Property, plant and equipment
Utility plant, at original costs	$ 14,437	$ 14,189
Accumulated depreciation	(3,663)	(3,601)
Utility plant, net	10,774	10,588
Other property	14	14
Total property, plant and equipment, net	10,788	10,602
Current assets
Cash and cash equivalents	20	18
Receivables, less allowance for credit losses of $7 and $7 at March 31, 2022 and December 31, 2021, respectively	258	254
Due from affiliates	11	8
Inventories, at average cost
Regulatory assets	209	136
Prepayments and other current assets	23	22
Total current assets	670	579
Deferred debits
Regulatory assets	839	866
Other	151	149
Total deferred debits	990	1,015
Total assets	12,448	12,196
Capitalization
Common stock	4,645	4,470
Accumulated other comprehensive loss	(1)	(1)
Retained earnings	356	323
Total capital	5,000	4,792
Long-term debt	3,137	3,136
Total capitalization	8,137	7,928
Current liabilities
Long-term debt due within one year	250	250
Notes payable	813	745
Accounts payable	285	390
Due to affiliates	33	44
Customer deposits	134	132
Regulatory liabilities	49	78
Accrued interest	39	18
Accrued taxes	40	19
Other	53	51
Total current liabilities	1,696	1,727
Long-term liabilities
Deferred income taxes	864	858
Regulatory liabilities	1,132	1,092
Investment tax credits	280	249
Deferred credits and other liabilities	339	342
Total long-term liabilities	2,615	2,541
Commitments and Contingencies (see Note 8)
Total liabilities and capitalization	12,448	12,196
Fuel [Member]
Inventories, at average cost
Utility inventories	16	20
Materials and Supplies [Member]
Inventories, at average cost
Utility inventories	133	121
Electric [Member]
Property, plant and equipment
Utility plant, at original costs	11,739	11,563
Gas [Member]
Property, plant and equipment
Utility plant, at original costs	$ 2,698	$ 2,626

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Allowance for credit losses	$ 7	$ 7

Consolidated Condensed Statemen

Consolidated Condensed Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Electric	$ 509	$ 446
Gas	182	153
Total revenues	691	599
Expenses
Fuel	128	109
Purchased power	7	18
Cost of natural gas sold	72	50
Operations and maintenance	147	128
Depreciation and amortization	105	106
Taxes, other than income	61	54
Total expenses	520	465
Income from operations	171	134
Other income
Allowance for equity funds used during construction	8	10
Other income, net	3	1
Total other income	11	11
Interest charges
Interest expense	38	38
Allowance for borrowed funds used during construction	(3)	(5)
Total interest charges	35	33
Income before provision for income taxes	147	112
Provision for income taxes	29	20
Net income	118	92
Comprehensive income	$ 118	$ 92

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 118	$ 92
Adjustments to reconcile net income to cash from operating activities:
Depreciation and amortization	105	106
Deferred income taxes and investment tax credits	39	22
Allowance for equity funds used during construction	(8)	(10)
Deferred recovery clauses	(49)	(3)
Receivables, less allowance for credit losses	(5)	(3)
Inventories	(8)	3
Taxes accrued	11	15
Interest accrued	21	32
Accounts payable	(84)	(62)
Regulatory assets and liabilities	5	0
Other	(3)	(12)
Cash flows from operating activities	142	180
Cash flows used in investing activities
Capital expenditures	(301)	(270)
Net proceeds from sale of assets	3	0
Cash flows used in investing activities	(298)	(270)
Cash flows from financing activities
Equity contributions from Parent	175	155
Proceeds from long-term debt issuance	0	792
Net increase (decrease) in short-term debt (maturities of 90 days or less)	68	(465)
Repayment of other short-term debt (maturities over 90 days)	0	(300)
Dividends to Parent	(85)	(88)
Cash flows from financing activities	158	94
Net increase in cash and cash equivalents	2	4
Cash and cash equivalents at beginning of period	18	10
Cash and cash equivalents at end of period	20	14
Supplemental disclosure of non-cash activities
Change in accrued capital expenditures	$ (20)	$ (12)

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Capital (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Beginning balance	$ 4,792	$ 4,216
Net income	118	92
Equity contributions from Parent	175	155
Dividends to Parent	(85)	(88)
Ending balance	5,000	4,375
Common Stock [Member]
Beginning balance	$ 4,470	$ 3,890
Beginning balance	10	10
Equity contributions from Parent	$ 175	$ 155
Ending balance	$ 4,645	$ 4,045
Ending balance	10	10
Retained Earnings [Member]
Beginning balance	$ 323	$ 327
Net income	118	92
Dividends to Parent	(85)	(88)
Ending balance	356	331
Accumulated Other Comprehensive Loss [Member]
Beginning balance	(1)	(1)
Ending balance	$ (1)	$ (1)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies See TEC’s Annual Report on Form 10-K for the year ended December 31, 2021 for a complete discussion of accounting policies. The significant accounting policies for TEC include: Principles of Consolidation and Basis of Presentation TEC is a wholly owned subsidiary of TECO Energy, which is an indirect, wholly owned subsidiary of Emera. TEC is comprised of the electric division, referred to as Tampa Electric, and the natural gas division, referred to as PGS. Intercompany balances and transactions within the divisions have been eliminated in consolidation. In the opinion of management, the unaudited consolidated condensed financial statements include all adjustments that are of a recurring nature and necessary to state fairly the financial position of TEC as of March 31, 2022 and December 31, 2021, and the results of operations and cash flows for the periods ended March 31, 2022 and 2021. The results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results that can be expected for the entire fiscal year ending December 31, 2022. The use of estimates is inherent in the preparation of financial statements in accordance with U.S. GAAP. Actual results could differ from these estimates. The year-end Consolidated Condensed Balance Sheet was derived from audited financial statements; however, this quarterly report on Form 10-Q does not include all year-end disclosures required for an annual report on Form 10-K by U.S. GAAP. Receivables and Allowance for Credit Losses Receivables from contracts with customers, which consist of services to residential, commercial, industrial and other customers, were $ 257 million and $ 252 million as of March 31, 2022 and December 31, 2021, respectively. An allowance for credit losses is established based on TEC’s collection experience and reasonable and supportable forecasts that affect the collectibility of the reported amount. Circumstances that could affect Tampa Electric’s and PGS’s estimates of credit losses include, but are not limited to, customer credit issues, generating fuel prices, customer deposits and general economic conditions. Accounts are reserved in the allowance or written off once they are deemed to be uncollectible. As of March 31, 2022 and December 31, 2021, unbilled revenues of $ 80 million and $ 74 million, respectively, are included in the “Receivables” line item on the Consolidated Condensed Balance Sheets. Accounting for Franchise Fees and Gross Receipts Tampa Electric and PGS are allowed to recover certain costs from customers on a dollar-for-dollar basis through rates approved by the FPSC. The amounts included in customers’ bills for franchise fees and gross receipt taxes are included as revenues on the Consolidated Condensed Statements of Income. Franchise fees and gross receipt taxes payable by Tampa Electric and PGS are included as an expense on the Consolidated Condensed Statements of Income in “Taxes, other than income”. These amounts totaled $ 33 million and $ 29 million for the three months ended March 31, 2022 and 2021, respectively.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Changes And Error Corrections [Abstract]
New Accounting Pronouncements	2. New Accounting Pronouncements TEC considers the applicability and impact of all ASUs issued by the FASB. The ASUs that have been issued, but that are not yet effective, were assessed and determined to be either not applicable to TEC or have an insignificant impact on the condensed consolidated financial statements.

Regulatory

Regulatory	3 Months Ended
	Mar. 31, 2022
Regulated Operations [Abstract]
Regulatory	3. Regulatory Tampa Electric Base Rates On August 6, 2021, Tampa Electric filed with the FPSC a joint motion for approval of a settlement agreement dated as of August 6, 2021 (the Settlement Agreement) by and among Tampa Electric and the intervenors in Tampa Electric’s rate case filed with the FPSC in April 2021. The Settlement Agreement agrees to an increase in base rates annually effective with January 2022 bills, to generate a $ 191 million increase in revenue consisting of $ 123 million of traditional base rate charges and $ 68 million in a new charge to recover the costs of retiring assets. The Settlement Agreement further includes two subsequent year adjustments of $ 90 million and $ 21 million, effective January 2023 and January 2024, respectively. Under the agreement, the allowed equity in the capital structure will continue to be 54 % from investor sources of capital. The Settlement Agreement includes an allowed regulatory ROE range of 9.0 % to 11.0 % with a 9.95 % midpoint. The Settlement Agreement allows a 25 basis point increase in the allowed ROE range and mid-point, and $ 10 million of additional revenue, if the average 30 -year United States Treasury Bond yield rate for any period of six consecutive months is at least 50 basis points greater than the yield rate on the date the FPSC votes to approve the agreement. Under the agreement, base rates will no t change from January 1, 2022 through December 31, 2024 , unless Tampa Electric’s earned ROE were to fall below the bottom of the range during that time. The Settlement Agreement contains a provision whereby Tampa Electric agrees to quantify the future impact of a decrease or increase in corporate income tax rates on net operating income through a reduction or increase in base revenues within 180 days of when such tax change becomes law or its effective date. The Settlement Agreement further creates a mechanism to recover the costs of retiring coal generation units and meter assets over a period of 15 years which survives the term of that agreement. The Settlement Agreement sets new depreciation and dismantlement rates effective January 1, 2022 and contains the provisions that Tampa Electric will not have to file another depreciation study during the term of the agreement but will file a new depreciation study no more than one year, nor less than 90 days, before the filing of its next general base rate proceeding. Additionally, Tampa Electric agreed to a financial hedging moratorium for natural gas ending on December 31, 2024. On October 21, 2021, the FPSC approved the Settlement Agreement and the final order, reflecting such approval, was issued on November 10, 2021. Tampa Electric’s Settlement Agreement provides recovery for the Big Bend modernization project in two phases. The first phase is a revenue increase to cover the costs of the assets in service during 2022, among other items. The remainder of the project costs will be recovered as part of the 2023 subsequent year adjustment. The Settlement Agreement also includes a new charge to recover the remaining costs of the retiring Big Bend coal generation assets, Units 1 through 3, which will be spread over 15 years and will survive the term of the Settlement Agreement. The special capital recovery schedule for all three units was applied beginning January 1, 2022. Tampa Electric Mid-Course Adjustment to Fuel Recovery In January 2022, Tampa Electric requested a mid-course adjustment t o its fuel and capacity charges to recover an additional $ 169 million beginning April 1, 2022 through December 2022 due to an increase in fuel commodity and capacity costs. On March 1, 2022, the FPSC voted to approve the mid-course adjustment, and the order reflecting such approval was issued on March 18, 2022. Tampa Electric Storm Protection Cost Recovery Clause and Settlement Agreement On October 3, 2019, the FPSC issued a rule to implement a Storm Protection Plan (SPP) Cost Recovery Clause. This clause provides a process for Florida investor-owned utilities, including Tampa Electric, to recover transmission and distribution storm hardening costs for incremental activities not already included in base rates. On June 9, 2020, the FPSC approved a settlement agreement submitted by Tampa Electric which specified a $ 15 million base rate reduction for SPP program costs previously recovered in base rates beginning January 1, 2021. On August 3, 2020, Tampa Electric submitted another settlement agreement to the FPSC for approval, including cost recovery of approximately $ 39 million in proposed storm protection project costs for 2020 and 2021. This cost recovery includes the $ 15 million of costs removed from base rates. This settlement agreement was approved on August 10, 2020 and Tampa Electric’s cost recovery began in January 2021. The current approved plan addresses the years 2020, 2021 and 2022, and in April 2022 Tampa Electric submitted a new plan to determine cost recovery in 2023, 2024, and 2025. PGS Base Rates On June 8, 2020, PGS filed a petition for an increase in rates and service charges effective January 2021. On November 19, 2020, the FPSC approved a settlement agreement filed by PGS and OPC. The settlement agreement provides for an increase in base rates by $ 58 million annually effective January 2021, which is a $ 34 million increase in revenue and $ 24 million increase of revenues previously recovered through the cast iron and bare steel replacement rider. This settlement agreement includes an allowed regulatory ROE range of 8.90 % to 11.00 % with a 9.90 % midpoint, including the ability to reverse a total of $ 34 million of accumulated depreciation through 2023. PGS has reversed $ 5 million of the $ 34 million accumulated depreciation during the period ended March 31, 2022, and no amounts were reversed in prior periods. In addition, the agreement set new depreciation rates effective January 1, 2021 that are consistent with PGS’s current overall average depreciation rate. Under the agreement, base rates are frozen from January 1, 2021 to December 31, 2023 , unless its earned ROE were to fall below 8.90 % before that time with an allowed equity in the capital structure of 54.7 % from investor sources of capital. Regulatory Assets and Liabilities Details of the regulatory assets and liabilities are presented in the following table: Regulatory Assets and Liabilities (millions) March 31, 2022 December 31, 2021 Regulatory assets: Regulatory tax asset (1) $ 119 $ 117 Cost-recovery clauses (2) 142 89 Capital cost recovery for early retired assets (3) 512 518 Environmental remediation (4) 22 22 Postretirement benefits (5) 225 230 Asset retirement obligation (6) 11 11 Other 17 15 Total regulatory assets 1,048 1,002 Less: Current portion 209 136 Long-term regulatory assets $ 839 $ 866 Regulatory liabilities: Regulatory tax liability (7) $ 641 $ 638 Cost-recovery clauses - deferred balances (2) 22 16 Accumulated reserve - cost of removal (8) 470 468 Storm reserve (9) 46 46 Other 2 2 Total regulatory liabilities 1,181 1,170 Less: Current portion 49 78 Long-term regulatory liabilities $ 1,132 $ 1,092 (1) The regulatory tax asset is primarily associated with the depreciation and recovery of AFUDC-equity. This asset does not earn a return but rather is included in the capital structure, which is used in the calculation of the weighted cost of capital used to determine revenue requirements. It will be recovered over the expected life of the related assets. The regulatory tax asset balance reflects the impact of the federal corporate income tax rate reduction. (2) These assets and liabilities are related to FPSC clauses and riders. They are recovered or refunded through cost-recovery mechanisms approved by the FPSC on a dollar-for-dollar basis in a subsequent period. (3) This regulatory asset is related to the remaining net book value of Big Bend Units 1 through 3 and smart meter assets that were retired. The balance earns a rate of return as permitted by the FPSC and will be recovered as a separate line item on customer bills for a period of 15 years . See “Tampa Electric Base Rates” above for further information. (4) This asset is related to costs associated with environmental remediation primarily at MGP sites. The balance is included in rate base, partially offsetting the related liability, and earns a rate of return as permitted by the FPSC. The timing of recovery is based on a settlement agreement approved by the FPSC. (5) This asset is related to the deferred costs of postretirement benefits and it is amortized over the remaining service life of plan participants. Deferred costs of postretirement benefits that are included in expense are recognized as cost of service for rate-making purposes as permitted by the FPSC. (6) This asset is related to costs associated with an asset retirement obligation, which is a legal obligation for the future retirement of certain tangible, long-lived assets. This regulatory asset does not earn a return because it is offset with related assets and liabilities within rate base. It is recovered and removed as the obligation is settled and removed as the activities for the retirement of the related assets have been completed. (7) The regulatory tax liability is primarily related to the revaluation of TEC’s deferred income tax balances recorded on December 31, 2017 at the lower corporate income tax rate due to U.S. tax reform. The liability related to the revaluation of the deferred income tax balances is amortized and returned to customers through rate reductions or other revenue offsets based on IRS regulations and the settlement agreement for tax reform benefits approved by the FPSC. (8) This item represents the non-ARO cost of removal in the accumulated reserve for depreciation. AROs are costs for legally required removal of property, plant and equipment. Non-ARO cost of removal represents estimated funds received from customers through depreciation rates to cover future non-legally required cost of removal of property, plant and equipment, net of salvage value upon retirement, which reduces rate base for ratemaking purposes. This liability is reduced as costs of removal are incurred. (9) As a result of Tampa Electric’s 2013 rate case settlement, in the event of a named storm that results in damage to its system, Tampa Electric can petition the FPSC to seek recovery of those costs over a 12-month period or longer as determined by the FPSC, as well as replenish its reserve to $ 56 million, the level of the reserve as of October 31, 2013. This provision was also included in Tampa Electric’s subsequent 2017 amended and restated settlement agreement and in Tampa Electric’s 2021 rate case settlement agreement.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	4. Income Taxes Income Tax Expense TEC is included in a consolidated U.S. federal income tax return with EUSHI and its subsidiaries. TEC’s income tax expense is based upon a separate return method, modified for the benefits-for-loss allocation in accordance with respective tax sharing agreements with TECO Energy and EUSHI. To the extent that TEC’s cash tax positions are settled differently than the amount reported as realized under the tax sharing agreement, the difference is reflected in common stock. TEC’s effective tax rates for the three months ended March 31, 2022 and 2021 were 19.7 % and 17.9 %, respectively. The March 31, 2022 and 2021 effective tax rates are an estimate of the annual effective income tax rate. TEC’s effective tax rate for the three months ended March 31, 2022 and 2021 differed from the statutory rate principally due to the amortization of the regulatory tax liability resulting from tax reform. See Note 3 for further information regarding the regulatory tax liability. Unrecognized Tax Benefits As of March 31, 2022 and December 31, 2021, the amount of unrecognized tax benefits was $ 6 million, all of which was recorded as a reduction of deferred income tax assets for tax credit carryforwards. TEC had $ 6 million of unrecognized tax benefits at March 31, 2022 and December 31, 2021, that, if recognized, would reduce TEC’s effective tax rate.

Employee Postretirement Benefit

Employee Postretirement Benefits	3 Months Ended
	Mar. 31, 2022
Compensation And Retirement Disclosure [Abstract]
Employee Postretirement Benefits	5. Employee Postretirement Benefits TEC is a participant in the comprehensive retirement plans of TECO Energy. The following table presents detail related to TECO Energy’s periodic benefit cost for pension and other postretirement benefits. Amounts disclosed for TECO Energy’s pension benefits include the amounts related to its qualified pension plan and non-qualified, non-contributory SERP and Restoration Plan. TECO Energy Benefit Cost (millions) Pension Benefits Other Postretirement Benefits Three months ended March 31, 2022 2021 2022 2021 Components of net periodic benefit cost Service cost $ 4 $ 5 $ 0 $ 0 Interest cost 6 5 1 1 Expected return on assets ( 13 ) ( 13 ) 0 0 Amortization of: Actuarial loss (gain) 4 6 1 1 Net periodic benefit cost $ 1 $ 3 $ 2 $ 2 TEC’s portion of the net periodic benefit cost for the three months ended March 31, 2022 and 2021, respectively, was $ 1 million and $ 3 million for pension benefits, and $ 2 million and $ 2 million for other postretirement benefits. TEC’s portion of net periodic benefit costs for pension and other benefits is included as an expense on the Consolidated Condensed Statements of Income in “Operations & maintenance”. TECO Energy assumed a long-term EROA of 6.50 % and a discount rate of 2.78 % for pension benefits under its qualified pension plan for 2022. For TECO Energy’s other postretirement benefits, TECO Energy used a discount rate of 2.84 % for 2022. TECO Energy made contributions of $ 5 million and $ 5 million to its qualified pension plan in the three months ended March 31, 2022 and 2021, respectively. TEC’s portion of these contributions was $ 4 million and $ 4 million, respectively. TECO Energy expects to make contributions to the pension plan of $ 14 million for the remainder of 2022. TEC estimates its portion of the remaining 2022 contribution to be $ 11 million. Included in the benefit cost discussed above, for the three months ended March 31, 2022, $ 4 million of unamortized prior service benefits and costs and actuarial gains and losses were reclassified by TEC from regulatory assets to the Consolidated Condensed Statement of Income, compared with $ 6 million for the three months ended March 31, 2021, respectively.

Short-Term Debt

Short-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Short-Term Debt	6. Short-Term Debt Details of TEC’s short-term borrowings are presented in the following table: March 31, 2022 December 31, 2021 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 $ 313 $ 1 $ 800 $ 0 $ 245 $ 1 1-year term facility (3) 500 500 0 0 500 500 0 0 Total $ 1,300 $ 500 $ 313 $ 1 $ 1,300 $ 500 $ 245 $ 1 (1) Borrowings outstanding are reported as notes payable. (2) This 5-year facility matures on December 17, 2026 . 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. (3) On December 17, 2021, TEC entered into a 1-year term facility that matures on December 16, 2022 . At March 31, 2022, these credit facilities required a commitment fee of 12.5 basis points. The weighted-average interest rate on borrowings outstanding under the credit facilities and commercial paper at March 31, 2022 and December 31, 2021 was 1.04 % and 0.58 %, respectively.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	7. Long-Term Debt Fair Value of Long-Term Debt At March 31, 2022, TEC’s long-term debt, including the current portion, had a carrying amount of $ 3,387 million and an estimated fair market value of $ 3,551 million. At December 31, 2021, TEC’s total long-term debt, including the current portion, had a carrying amount of $ 3,386 million and an estimated fair market value of $ 4,036 million. The fair value of the debt securities is determined using Level 2 measurements (see Note 11 for information regarding the fair value hierarchy).

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Legal Contingencies From time to time, TEC and its subsidiaries are involved in various legal, tax and regulatory proceedings before various courts, regulatory commissions and governmental agencies in the ordinary course of business. Where appropriate, accruals are made in accordance with accounting standards for contingencies to provide for matters that are probable of resulting in an estimable loss. Superfund and Former Manufactured Gas Plant Sites TEC, through its Tampa Electric and PGS divisions, is a PRP for certain superfund sites and, through its PGS division, for certain former MGP sites. While the joint and several liability associated with these sites presents the potential for significant response costs, as of March 31, 2022 and December 31, 2021, TEC has estimated its ultimate financial liability to be $ 14 million, primarily at PGS. This amount has been accrued and is primarily reflected in the long-term liability section under “Deferred credits and other liabilities” on the Consolidated Condensed Balance Sheets. The environmental remediation costs associated with these sites are expected to be paid over many years. The estimated amounts represent only the portion of the cleanup costs attributable to TEC. The estimates to perform the work are based on TEC’s experience with similar work, adjusted for site-specific conditions and agreements with the respective governmental agencies. The estimates are made in current dollars, are not discounted and do not assume any insurance recoveries. In instances where other PRPs are involved, most of those PRPs are creditworthy and are likely to continue to be creditworthy for the duration of the remediation work. However, in those instances that they are not, TEC could be liable for more than TEC’s currently assessed percentage of the remediation costs. Factors that could impact these estimates include the ability of other PRPs to pay their pro-rata portion of the cleanup costs, additional testing and investigation which could expand the scope of the cleanup activities, additional liability that might arise from the cleanup activities themselves or changes in laws or regulations that could require additional remediation. Under current regulations, these costs are recoverable through customer rates established in subsequent base rate proceedings. See Note 3 for information regarding the related regulatory asset. Long-Term Commitments TEC has commitments for various purchases as disclosed below, including payment obligations under contractual agreements for fuel, fuel transportation and power purchases that are recovered from customers under regulatory clauses. The following is a schedule of future payments under PPAs, minimum lease payments with non-cancelable lease terms in excess of one year, and other net purchase obligations/commitments at March 31, 2022: Fuel Long-term Demand Capital and Service Operating Side (millions) Transportation Projects Gas Supply Agreements Leases Management Total 2022 $ 182 $ 224 $ 393 $ 24 $ 2 $ 4 $ 829 2023 224 63 38 29 3 1 358 2024 215 2 0 27 3 1 248 2025 200 1 0 19 2 1 223 2026 197 0 0 19 1 0 217 Thereafter 1,868 0 0 52 48 0 1,968 Total future minimum payments $ 2,886 $ 290 $ 431 $ 170 $ 59 $ 7 $ 3,843 Debt Covenants TEC must meet certain financial tests, including a debt to capital ratio, as defined in the applicable debt agreements and has certain restrictive covenants in specific agreements and debt instruments. At March 31, 2022, TEC was in compliance with all required covenants.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	9. Segment Information (millions) Tampa Tampa Electric Three months ended March 31, Electric PGS Eliminations Company 2022 Revenues - external $ 509 $ 182 $ 0 $ 691 Intracompany sales 1 1 ( 2 ) 0 Total revenues 510 183 ( 2 ) 691 Total interest charges 30 5 0 35 Net income $ 88 $ 30 $ 0 $ 118 2021 Revenues - external $ 446 $ 153 $ 0 $ 599 Intracompany sales 1 2 ( 3 ) 0 Total revenues 447 155 ( 3 ) 599 Total interest charges 28 5 0 33 Net income $ 65 $ 27 $ 0 $ 92 Total assets at March 31, 2022 $ 10,873 $ 2,263 $ ( 688 ) (1) $ 12,448 Total assets at December 31, 2021 $ 10,650 $ 2,209 $ ( 663 ) (1) $ 12,196 (1) Amounts primarily relate to consolidated deferred tax reclassifications. Deferred tax assets are reclassified and netted with deferred tax liabilities upon consolidation.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenues [Abstract]
Revenue	10. Revenue The following disaggregates TEC’s revenue by major source: (millions) Tampa Tampa Electric Three months ended March 31, 2022 Electric PGS Eliminations Company Electric revenue Residential $ 270 $ 0 $ 0 $ 270 Commercial 137 0 0 137 Industrial 37 0 0 37 Regulatory deferrals and unbilled revenue 3 0 0 3 Other (1) 63 0 ( 1 ) 62 Total electric revenue 510 0 ( 1 ) 509 Gas revenue Residential 0 75 0 75 Commercial 0 56 0 56 Industrial (2) 0 7 0 7 Other (3) 0 45 ( 1 ) 44 Total gas revenue 0 183 ( 1 ) 182 Total revenue $ 510 $ 183 $ ( 2 ) $ 691 Three months ended March 31, 2021 Electric revenue Residential $ 232 $ 0 $ 0 $ 232 Commercial 126 0 0 126 Industrial 37 0 0 37 Regulatory deferrals and unbilled revenue ( 2 ) 0 0 ( 2 ) Other (1) 54 0 ( 1 ) 53 Total electric revenue 447 0 ( 1 ) 446 Gas revenue Residential 0 67 0 67 Commercial 0 53 0 53 Industrial (2) 0 6 0 6 Other (3) 0 29 ( 2 ) 27 Total gas revenue 0 155 ( 2 ) 153 Total revenue $ 447 $ 155 $ ( 3 ) $ 599 (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, 2022 and December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $ 135 million. As allowed under ASC 606, these amounts exclude 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 2041 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	1. Fair Value Measurements Items Measured at Fair Value on a Recurring Basis Accounting guidance governing fair value measurements and disclosures provides that fair value represents the amount that would be received in selling an asset or the amount that would be paid in transferring a liability in an orderly transaction between market participants. As a basis for considering assumptions that market participants would use in pricing an asset or liability, accounting guidance also establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs, such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. There were no Level 3 assets or liabilities for the periods presented. As of March 31, 2022 and December 31, 2021, the carrying value of TEC’s short-term debt was not materially different from the fair value due to the short-term nature of the instruments and because the stated rates approximate market rates. The fair value of TEC’s short-term debt is determined using Level 2 measurements. See Note 7 for information regarding the fair value of long-term debt.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation TEC is a wholly owned subsidiary of TECO Energy, which is an indirect, wholly owned subsidiary of Emera. TEC is comprised of the electric division, referred to as Tampa Electric, and the natural gas division, referred to as PGS. Intercompany balances and transactions within the divisions have been eliminated in consolidation. In the opinion of management, the unaudited consolidated condensed financial statements include all adjustments that are of a recurring nature and necessary to state fairly the financial position of TEC as of March 31, 2022 and December 31, 2021, and the results of operations and cash flows for the periods ended March 31, 2022 and 2021. The results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results that can be expected for the entire fiscal year ending December 31, 2022. The use of estimates is inherent in the preparation of financial statements in accordance with U.S. GAAP. Actual results could differ from these estimates. The year-end Consolidated Condensed Balance Sheet was derived from audited financial statements; however, this quarterly report on Form 10-Q does not include all year-end disclosures required for an annual report on Form 10-K by U.S. GAAP.
Receivables and Allowance for Credit Losses	Receivables and Allowance for Credit Losses Receivables from contracts with customers, which consist of services to residential, commercial, industrial and other customers, were $ 257 million and $ 252 million as of March 31, 2022 and December 31, 2021, respectively. An allowance for credit losses is established based on TEC’s collection experience and reasonable and supportable forecasts that affect the collectibility of the reported amount. Circumstances that could affect Tampa Electric’s and PGS’s estimates of credit losses include, but are not limited to, customer credit issues, generating fuel prices, customer deposits and general economic conditions. Accounts are reserved in the allowance or written off once they are deemed to be uncollectible. As of March 31, 2022 and December 31, 2021, unbilled revenues of $ 80 million and $ 74 million, respectively, are included in the “Receivables” line item on the Consolidated Condensed Balance Sheets.
Accounting for Franchise Fees and Gross Receipts	Accounting for Franchise Fees and Gross Receipts Tampa Electric and PGS are allowed to recover certain costs from customers on a dollar-for-dollar basis through rates approved by the FPSC. The amounts included in customers’ bills for franchise fees and gross receipt taxes are included as revenues on the Consolidated Condensed Statements of Income. Franchise fees and gross receipt taxes payable by Tampa Electric and PGS are included as an expense on the Consolidated Condensed Statements of Income in “Taxes, other than income”. These amounts totaled $ 33 million and $ 29 million for the three months ended March 31, 2022 and 2021, respectively.

Regulatory (Tables)

Regulatory (Tables)	3 Months Ended
	Mar. 31, 2022
Regulated Operations [Abstract]
Schedule of Regulatory Assets and Regulatory Liabilities	Details of the regulatory assets and liabilities are presented in the following table: Regulatory Assets and Liabilities (millions) March 31, 2022 December 31, 2021 Regulatory assets: Regulatory tax asset (1) $ 119 $ 117 Cost-recovery clauses (2) 142 89 Capital cost recovery for early retired assets (3) 512 518 Environmental remediation (4) 22 22 Postretirement benefits (5) 225 230 Asset retirement obligation (6) 11 11 Other 17 15 Total regulatory assets 1,048 1,002 Less: Current portion 209 136 Long-term regulatory assets $ 839 $ 866 Regulatory liabilities: Regulatory tax liability (7) $ 641 $ 638 Cost-recovery clauses - deferred balances (2) 22 16 Accumulated reserve - cost of removal (8) 470 468 Storm reserve (9) 46 46 Other 2 2 Total regulatory liabilities 1,181 1,170 Less: Current portion 49 78 Long-term regulatory liabilities $ 1,132 $ 1,092 (1) The regulatory tax asset is primarily associated with the depreciation and recovery of AFUDC-equity. This asset does not earn a return but rather is included in the capital structure, which is used in the calculation of the weighted cost of capital used to determine revenue requirements. It will be recovered over the expected life of the related assets. The regulatory tax asset balance reflects the impact of the federal corporate income tax rate reduction. (2) These assets and liabilities are related to FPSC clauses and riders. They are recovered or refunded through cost-recovery mechanisms approved by the FPSC on a dollar-for-dollar basis in a subsequent period. (3) This regulatory asset is related to the remaining net book value of Big Bend Units 1 through 3 and smart meter assets that were retired. The balance earns a rate of return as permitted by the FPSC and will be recovered as a separate line item on customer bills for a period of 15 years . See “Tampa Electric Base Rates” above for further information. (4) This asset is related to costs associated with environmental remediation primarily at MGP sites. The balance is included in rate base, partially offsetting the related liability, and earns a rate of return as permitted by the FPSC. The timing of recovery is based on a settlement agreement approved by the FPSC. (5) This asset is related to the deferred costs of postretirement benefits and it is amortized over the remaining service life of plan participants. Deferred costs of postretirement benefits that are included in expense are recognized as cost of service for rate-making purposes as permitted by the FPSC. (6) This asset is related to costs associated with an asset retirement obligation, which is a legal obligation for the future retirement of certain tangible, long-lived assets. This regulatory asset does not earn a return because it is offset with related assets and liabilities within rate base. It is recovered and removed as the obligation is settled and removed as the activities for the retirement of the related assets have been completed. (7) The regulatory tax liability is primarily related to the revaluation of TEC’s deferred income tax balances recorded on December 31, 2017 at the lower corporate income tax rate due to U.S. tax reform. The liability related to the revaluation of the deferred income tax balances is amortized and returned to customers through rate reductions or other revenue offsets based on IRS regulations and the settlement agreement for tax reform benefits approved by the FPSC. (8) This item represents the non-ARO cost of removal in the accumulated reserve for depreciation. AROs are costs for legally required removal of property, plant and equipment. Non-ARO cost of removal represents estimated funds received from customers through depreciation rates to cover future non-legally required cost of removal of property, plant and equipment, net of salvage value upon retirement, which reduces rate base for ratemaking purposes. This liability is reduced as costs of removal are incurred. (9) As a result of Tampa Electric’s 2013 rate case settlement, in the event of a named storm that results in damage to its system, Tampa Electric can petition the FPSC to seek recovery of those costs over a 12-month period or longer as determined by the FPSC, as well as replenish its reserve to $ 56 million, the level of the reserve as of October 31, 2013. This provision was also included in Tampa Electric’s subsequent 2017 amended and restated settlement agreement and in Tampa Electric’s 2021 rate case settlement agreement.

Employee Postretirement Benef_2

Employee Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2022
TECO Energy [Member]
Schedule of Net Periodic Benefit Cost	The following table presents detail related to TECO Energy’s periodic benefit cost for pension and other postretirement benefits. Amounts disclosed for TECO Energy’s pension benefits include the amounts related to its qualified pension plan and non-qualified, non-contributory SERP and Restoration Plan. TECO Energy Benefit Cost (millions) Pension Benefits Other Postretirement Benefits Three months ended March 31, 2022 2021 2022 2021 Components of net periodic benefit cost Service cost $ 4 $ 5 $ 0 $ 0 Interest cost 6 5 1 1 Expected return on assets ( 13 ) ( 13 ) 0 0 Amortization of: Actuarial loss (gain) 4 6 1 1 Net periodic benefit cost $ 1 $ 3 $ 2 $ 2

Short-Term Debt (Tables)

Short-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Short-Term Debt Credit Facilities	Details of TEC’s short-term borrowings are presented in the following table: March 31, 2022 December 31, 2021 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 $ 313 $ 1 $ 800 $ 0 $ 245 $ 1 1-year term facility (3) 500 500 0 0 500 500 0 0 Total $ 1,300 $ 500 $ 313 $ 1 $ 1,300 $ 500 $ 245 $ 1 (1) Borrowings outstanding are reported as notes payable. (2) This 5-year facility matures on December 17, 2026 . 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. (3) On December 17, 2021, TEC entered into a 1-year term facility that matures on December 16, 2022 . At March 31, 2022, these credit facilities required a commitment fee of 12.5 basis points. The weighted-average interest rate on borrowings outstanding under the credit facilities and commercial paper at March 31, 2022 and December 31, 2021 was 1.04 % and 0.58 %, respectively.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Schedule of Long-term Commitments	The following is a schedule of future payments under PPAs, minimum lease payments with non-cancelable lease terms in excess of one year, and other net purchase obligations/commitments at March 31, 2022: Fuel Long-term Demand Capital and Service Operating Side (millions) Transportation Projects Gas Supply Agreements Leases Management Total 2022 $ 182 $ 224 $ 393 $ 24 $ 2 $ 4 $ 829 2023 224 63 38 29 3 1 358 2024 215 2 0 27 3 1 248 2025 200 1 0 19 2 1 223 2026 197 0 0 19 1 0 217 Thereafter 1,868 0 0 52 48 0 1,968 Total future minimum payments $ 2,886 $ 290 $ 431 $ 170 $ 59 $ 7 $ 3,843

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Information	(millions) Tampa Tampa Electric Three months ended March 31, Electric PGS Eliminations Company 2022 Revenues - external $ 509 $ 182 $ 0 $ 691 Intracompany sales 1 1 ( 2 ) 0 Total revenues 510 183 ( 2 ) 691 Total interest charges 30 5 0 35 Net income $ 88 $ 30 $ 0 $ 118 2021 Revenues - external $ 446 $ 153 $ 0 $ 599 Intracompany sales 1 2 ( 3 ) 0 Total revenues 447 155 ( 3 ) 599 Total interest charges 28 5 0 33 Net income $ 65 $ 27 $ 0 $ 92 Total assets at March 31, 2022 $ 10,873 $ 2,263 $ ( 688 ) (1) $ 12,448 Total assets at December 31, 2021 $ 10,650 $ 2,209 $ ( 663 ) (1) $ 12,196 (1) Amounts primarily relate to consolidated deferred tax reclassifications. Deferred tax assets are reclassified and netted with deferred tax liabilities upon consolidation.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue Recognition [Abstract]
Summary of Disaggregates TEC Revenue by Major Source	The following disaggregates TEC’s revenue by major source: (millions) Tampa Tampa Electric Three months ended March 31, 2022 Electric PGS Eliminations Company Electric revenue Residential $ 270 $ 0 $ 0 $ 270 Commercial 137 0 0 137 Industrial 37 0 0 37 Regulatory deferrals and unbilled revenue 3 0 0 3 Other (1) 63 0 ( 1 ) 62 Total electric revenue 510 0 ( 1 ) 509 Gas revenue Residential 0 75 0 75 Commercial 0 56 0 56 Industrial (2) 0 7 0 7 Other (3) 0 45 ( 1 ) 44 Total gas revenue 0 183 ( 1 ) 182 Total revenue $ 510 $ 183 $ ( 2 ) $ 691 Three months ended March 31, 2021 Electric revenue Residential $ 232 $ 0 $ 0 $ 232 Commercial 126 0 0 126 Industrial 37 0 0 37 Regulatory deferrals and unbilled revenue ( 2 ) 0 0 ( 2 ) Other (1) 54 0 ( 1 ) 53 Total electric revenue 447 0 ( 1 ) 446 Gas revenue Residential 0 67 0 67 Commercial 0 53 0 53 Industrial (2) 0 6 0 6 Other (3) 0 29 ( 2 ) 27 Total gas revenue 0 155 ( 2 ) 153 Total revenue $ 447 $ 155 $ ( 3 ) $ 599 (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. Other gas revenue includes off-system sales to other utilities and various other items.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounting Policies [Abstract]
Receivables from contracts with customers	$ 257		$ 252
Unbilled revenues	80		$ 74
Franchise fees and gross receipts taxes	$ 33	$ 29

Regulatory - Additional Informa

Regulatory - Additional Information (Detail) - USD ($)	Aug. 06, 2021	Nov. 19, 2020	Aug. 03, 2020	Jun. 09, 2020	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Public Utilities General Disclosures [Line Items]
Accumulated depreciation								$ 3,663,000,000	$ 3,601,000,000
Additional cost recovery from settlement agreement							$ 169,000,000
PGS and OPC [Member]
Public Utilities General Disclosures [Line Items]
Increase in revenue		$ 34,000,000
Allowed equity in the capital structure		54.70%
Accumulated depreciation		$ 34,000,000						34,000,000
Increase in annual base rate		58,000,000
PGS and OPC [Member] | Cast Iron and Bare Steel Replacement Rider [Member]
Public Utilities General Disclosures [Line Items]
Increase in revenue		$ 24,000,000
PGS [Member]
Public Utilities General Disclosures [Line Items]
Accumulated depreciation reversed amount								$ 5,000,000
Settlement Agreement [Member]
Public Utilities General Disclosures [Line Items]
Settlement agreement, approval date	Aug. 6, 2021
Base rate adjustment amount	$ 123,000,000
Increase in revenue	$ 191,000,000
Settlement agreement number of subsequent years adjustments	2 years
Allowed equity in the capital structure	54.00%
Basis point increase applicable	25.00%
Additional attainable revenue under settlement agreement	$ 10,000,000
Changes in base rate under agreement	$ 0
Impact of tax reform through reduction in base revenue days	180 days
Settlement Agreement [Member] | Scenario Forecast [Member]
Public Utilities General Disclosures [Line Items]
Settlement agreement adjustment amount					$ 21,000,000	$ 90,000,000
Settlement Agreement [Member] | US Treasury Bond [Member]
Public Utilities General Disclosures [Line Items]
Calculating period	30 years
Determining period	6 months
Minimum [Member] | PGS and OPC [Member]
Public Utilities General Disclosures [Line Items]
Percentage of ROE		8.90%
Base rate agreement frozen period		Jan. 1, 2021
Minimum [Member] | Settlement Agreement [Member]
Public Utilities General Disclosures [Line Items]
Percentage of ROE	9.00%
Base rate agreement frozen period	Jan. 1, 2022
Minimum [Member] | Settlement Agreement [Member] | US Treasury Bond [Member]
Public Utilities General Disclosures [Line Items]
ROE revenue basis point on yield rate	0.50%
Maximum [Member] | PGS and OPC [Member]
Public Utilities General Disclosures [Line Items]
Percentage of ROE		11.00%
Base rate agreement frozen period		Dec. 31, 2023
Maximum [Member] | Settlement Agreement [Member]
Public Utilities General Disclosures [Line Items]
Percentage of ROE	11.00%
Base rate agreement frozen period	Dec. 31, 2024
Mid Point [Member] | PGS and OPC [Member]
Public Utilities General Disclosures [Line Items]
Percentage of ROE		9.90%
Mid Point [Member] | Settlement Agreement [Member]
Public Utilities General Disclosures [Line Items]
Percentage of ROE	9.95%
Retiring Assets [Member] | Settlement Agreement [Member]
Public Utilities General Disclosures [Line Items]
Cost recovery from settlement agreement	$ 68,000,000
Retiring Coal Generation Units and Meter Assets [Member] | Settlement Agreement [Member]
Public Utilities General Disclosures [Line Items]
Settlement agreement cost recovery period	15 years
Big Bend Modernization Project [Member]
Public Utilities General Disclosures [Line Items]
Settlement agreement recovery description								Tampa Electric’s Settlement Agreement provides recovery for the Big Bend modernization project in two phases. The first phase is a revenue increase to cover the costs of the assets in service during 2022, among other items. The remainder of the project costs will be recovered as part of the 2023 subsequent year adjustment.
Big Bend Coal Generation Assets [Member]
Public Utilities General Disclosures [Line Items]
Settlement agreement cost recovery period								15 years
Storm Protection Plan [Member]
Public Utilities General Disclosures [Line Items]
Cost recovery from settlement agreement			$ 39,000,000
Reduction in annual base rates				$ 15,000,000

Regulatory - Schedule of Regula

Regulatory - Schedule of Regulatory Assets and Regulatory Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Regulatory assets:
Regulatory assets	$ 1,048	$ 1,002
Less: Current portion	209	136
Long-term regulatory assets	839	866
Regulatory liabilities:
Regulatory liabilities	1,181	1,170
Less: Current portion	49	78
Long-term regulatory liabilities	1,132	1,092
Regulatory Tax Asset [Member]
Regulatory assets:
Regulatory assets	119	117
Cost-Recovery Clauses Regulatory Assets [Member]
Regulatory assets:
Regulatory assets	142	89
Capital Cost Recovery for Early Retired Assets [Member]
Regulatory assets:
Regulatory assets	512	518
Environmental Remediation [Member]
Regulatory assets:
Regulatory assets	22	22
Postretirement Benefits [Member]
Regulatory assets:
Regulatory assets	225	230
Asset Retirement Obligation [Member]
Regulatory assets:
Regulatory assets	11	11
Other [Member]
Regulatory assets:
Regulatory assets	17	15
Regulatory Tax Liability [Member] | Non-Current Liabilities [Member]
Regulatory liabilities:
Regulatory liabilities	641	638
Cost-Recovery Clauses - Deferred Balances Regulatory Liabilities [Member]
Regulatory liabilities:
Regulatory liabilities	22	16
Accumulated Reserve - Cost of Removal [Member]
Regulatory liabilities:
Regulatory liabilities	470	468
Storm Reserve [Member]
Regulatory liabilities:
Regulatory liabilities	46	46
Other [Member]
Regulatory liabilities:
Regulatory liabilities	$ 2	$ 2

Regulatory - Schedule of Regu_2

Regulatory - Schedule of Regulatory Assets and Regulatory Liabilities (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Oct. 31, 2013
Storm Restoration Cost Recovery [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Minimum cost recovery period	12 months
Replenishment reserve for recovery of cost		$ 56
Capital Cost Recovery for Early Retired Assets [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Settlement agreement cost recovery period	15 years

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Taxes [Line Items]
Effective tax rate	19.70%	17.90%
Unrecognized tax benefits	$ 6		$ 6
Unrecognized tax benefit that would reduce effective tax rate	$ 6		$ 6

Employee Postretirement Benef_3

Employee Postretirement Benefits - Schedule of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Pension Benefits [Member]
Amortization of:
Net periodic benefit cost	$ 1	$ 3
Other Postretirement Benefits [Member]
Amortization of:
Net periodic benefit cost	2	2
TECO Energy [Member] | Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	5
Interest cost	6	5
Expected return on assets	(13)	(13)
Amortization of:
Actuarial loss (gain)	4	6
Net periodic benefit cost	1	3
TECO Energy [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	1	1
Expected return on assets	0	0
Amortization of:
Actuarial loss (gain)	1	1
Net periodic benefit cost	$ 2	$ 2

Employee Postretirement Benef_4

Employee Postretirement Benefits - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Reclassification of regulatory assets to net income as part of periodic benefit cost	$ 4	$ 6
TECO Energy [Member]
Defined Benefit Plan Disclosure [Line Items]
Long-term EROA	6.50%
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	$ 1	3
Employer contributions	4	4
Employer contributions in remainder of year	11
Pension Benefits [Member] | TECO Energy [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	$ 1	3
Discount rate	2.78%
Employer contributions	$ 5	5
Employer contributions in remainder of year	14
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	2	2
Other Postretirement Benefits [Member] | TECO Energy [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	$ 2	$ 2
Discount rate	2.84%

Short-Term Debt - Credit Facili

Short-Term Debt - Credit Facilities (Detail) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Line Of Credit Facility [Line Items]
Credit Facilities	$ 1,300,000,000	$ 1,300,000,000
Borrowings Outstanding	813,000,000	745,000,000
Letters of Credit Outstanding	1,000,000	1,000,000
Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Borrowings Outstanding	500,000,000	500,000,000
Commercial Paper [Member]
Line Of Credit Facility [Line Items]
Borrowings Outstanding	313,000,000	245,000,000
5-year Facility [Member]
Line Of Credit Facility [Line Items]
Credit Facilities	800,000,000	800,000,000
Letters of Credit Outstanding	1,000,000	1,000,000
5-year Facility [Member] | Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Borrowings Outstanding	0	0
5-year Facility [Member] | Commercial Paper [Member]
Line Of Credit Facility [Line Items]
Borrowings Outstanding	313,000,000	245,000,000
1-year Term Facility [Member]
Line Of Credit Facility [Line Items]
Credit Facilities	500,000,000	500,000,000
Letters of Credit Outstanding	0
1-year Term Facility [Member] | Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Borrowings Outstanding	500,000,000	500,000,000
Letters of Credit Outstanding		0
1-year Term Facility [Member] | Commercial Paper [Member]
Line Of Credit Facility [Line Items]
Borrowings Outstanding	$ 0	$ 0

Short-Term Debt - Credit Faci_2

Short-Term Debt - Credit Facilities (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2022USD ($)
5-year Facility [Member]
Line Of Credit Facility [Line Items]
Credit facility maturity date	Dec. 17, 2026
1-year Term Facility [Member]
Line Of Credit Facility [Line Items]
Credit facility maturity date	Dec. 16, 2022
Maximum [Member] | Commercial Paper Program [Member]
Line Of Credit Facility [Line Items]
Commercial paper issued	$ 800,000,000

Short-Term Debt - Additional In

Short-Term Debt - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Line Of Credit Facility [Line Items]
Commitment fees, percentage	12.50%
Weighted-average interest rate	1.04%	0.58%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt	$ 3,387	$ 3,386
Estimated fair value	$ 3,551	$ 4,036

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
PGS [Member]
Long Term Commitments [Line Items]
Ultimate financial liability to superfund sites and former MGP sites	$ 14	$ 14

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Long-term Commitments (Detail) $ in Millions	Mar. 31, 2022USD ($)
Other Commitments [Line Items]
2022	$ 829
2023	358
2024	248
2025	223
2026	217
Thereafter	1,968
Total future minimum payments	3,843
Transportation [Member]
Other Commitments [Line Items]
2022	182
2023	224
2024	215
2025	200
2026	197
Thereafter	1,868
Total future minimum payments	2,886
Capital Projects [Member]
Other Commitments [Line Items]
2022	224
2023	63
2024	2
2025	1
2026	0
Thereafter	0
Total future minimum payments	290
Fuel and Gas Supply [Member]
Other Commitments [Line Items]
2022	393
2023	38
2024	0
2025	0
2026	0
Thereafter	0
Total future minimum payments	431
Long-term Service Agreements [Member]
Other Commitments [Line Items]
2022	24
2023	29
2024	27
2025	19
2026	19
Thereafter	52
Total future minimum payments	170
Operating Leases [Member]
Other Commitments [Line Items]
2022	2
2023	3
2024	3
2025	2
2026	1
Thereafter	48
Total future minimum payments	59
Demand Side Management [Member]
Other Commitments [Line Items]
2022	4
2023	1
2024	1
2025	1
2026	0
Thereafter	0
Total future minimum payments	$ 7

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 691	$ 599
Total interest charges	35	33
Net income	118	92
Total assets	12,448		$ 12,196
Revenues - External [Member]
Segment Reporting Information [Line Items]
Total revenues	691	599
Intracompany Sales [Member]
Segment Reporting Information [Line Items]
Intracompany sales	0	0
Eliminations [Member]
Segment Reporting Information [Line Items]
Total revenues	(2)	(3)
Total interest charges	0	0
Net income	0	0
Total assets	(688)		(663)
Eliminations [Member] | Revenues - External [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0
Eliminations [Member] | Intracompany Sales [Member]
Segment Reporting Information [Line Items]
Intracompany sales	(2)	(3)
Tampa Electric [Member]
Segment Reporting Information [Line Items]
Total revenues	510	447
Tampa Electric [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	510	447
Total interest charges	30	28
Net income	88	65
Total assets	10,873		10,650
Tampa Electric [Member] | Operating Segments [Member] | Revenues - External [Member]
Segment Reporting Information [Line Items]
Total revenues	509	446
Tampa Electric [Member] | Operating Segments [Member] | Intracompany Sales [Member]
Segment Reporting Information [Line Items]
Intracompany sales	1	1
PGS [Member]
Segment Reporting Information [Line Items]
Total revenues	183	155
PGS [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	183	155
Total interest charges	5	5
Net income	30	27
Total assets	2,263		$ 2,209
PGS [Member] | Operating Segments [Member] | Revenues - External [Member]
Segment Reporting Information [Line Items]
Total revenues	182	153
PGS [Member] | Operating Segments [Member] | Intracompany Sales [Member]
Segment Reporting Information [Line Items]
Intracompany sales	$ 1	$ 2

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregates TEC Revenue by Major Source (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation Of Revenue [Line Items]
Total electric revenue	$ 509	$ 446
Total gas revenue	182	153
Total revenue	691	599
Residential [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	270	232
Total gas revenue	75	67
Commercial [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	137	126
Total gas revenue	56	53
Industrial [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	37	37
Total gas revenue	7	6
Regulatory Deferrals and Unbilled Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	(3)	(2)
Other [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	62	53
Total gas revenue	44	27
Tampa Electric [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	510	447
Total gas revenue	0	0
Total revenue	510	447
Tampa Electric [Member] | Residential [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	270	232
Total gas revenue	0	0
Tampa Electric [Member] | Commercial [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	137	126
Total gas revenue	0	0
Tampa Electric [Member] | Industrial [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	37	37
Total gas revenue	0	0
Tampa Electric [Member] | Regulatory Deferrals and Unbilled Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	(3)	(2)
Tampa Electric [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	63	54
Total gas revenue	0	0
PGS [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Total gas revenue	183	155
Total revenue	183	155
PGS [Member] | Residential [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Total gas revenue	75	67
PGS [Member] | Commercial [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Total gas revenue	56	53
PGS [Member] | Industrial [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Total gas revenue	7	6
PGS [Member] | Regulatory Deferrals and Unbilled Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
PGS [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Total gas revenue	45	29
Operating Segments [Member] | Tampa Electric [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	510	447
Operating Segments [Member] | PGS [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	183	155
Eliminations [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	(1)	(1)
Total gas revenue	(1)	(2)
Total revenue	(2)	(3)
Eliminations [Member] | Residential [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Total gas revenue	0	0
Eliminations [Member] | Commercial [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Total gas revenue	0	0
Eliminations [Member] | Industrial [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Total gas revenue	0	0
Eliminations [Member] | Regulatory Deferrals and Unbilled Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	0	0
Eliminations [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Total electric revenue	(1)	(1)
Total gas revenue	$ (1)	$ (2)

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Millions	Mar. 31, 2022USD ($)
Disaggregation Of Revenue [Line Items]
Remaining performance obligations, transaction price	$ 135
Remaining performance obligations, expected year of revenue recognition	2041