Commitments and Contingencies

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

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.

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 net purchase obligations/commitments at September 30, 2025:


					Fuel		Long-term				Purchased		Demand
			Capital		and		Service				Power		Side
(millions)	Transportation		Projects (1)		Gas Supply		Agreements		Leases		Agreements		Management		Total

2025	$	35	$	146	$	67	$	4	$	1	$	15	$	1	$	269
2026		148		53		266		18		3		12		1		501
2027		179		25		50		23		3		12		1		293
2028		140		2		1		20		3		13		0		179
2029		121		0		0		20		3		13		0		157
Thereafter		1,208		0		0		32		109		67		0		1,416
Total future minimum payments	$	1,831	$	226	$	384	$	117	$	122	$	132	$	3	$	2,815

(1) These estimates are subject to continuing review and adjustment and actual capital expenditures may vary significantly from these estimates.

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 September 30, 2025, TEC was in compliance with all required covenants.

TAMPA ELECTRIC CO 10-Q