Short-Term Debt (Tables)

9 Months Ended

Sep. 30, 2023

Details of TEC’s short-term borrowings are presented in the following table:



	September 30, 2023								December 31, 2022
			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	$	758	$	1	$	800	$	0	$	619	$	1
1-year term facility (3)		400		400		0		0		400		400		0		0
1-year term facility (4)		200		0		0		0		0		0		0		0
1-year term facility (5)		200		0		0		0		0		0		0		0
Total	$	1,600	$	400	$	758	$	1	$	1,200	$	400	$	619	$	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)

This 1-year term facility was set to mature on December 16, 2022. On December 13, 2022, TEC extended the maturity date to December 13, 2023.

(4)

On March 1, 2023, TEC entered into a 1-year term facility that matures on February 28, 2024.

(5)

On April 3, 2023, TEC entered into a 1-year term facility that matures on April 1, 2024.