Tampa Electric Company is a wholly-owned subsidiary of TECO Energy, Inc. and is comprised of the Electric division, Tampa Electric, and the Natural Gas division, Peoples Gas Systems. TECO Energy common stock (TE), which is listed on the New York Stock Exchange, is owned by approximately 13,700 shareholders. As of December 31, 2010, TECO Energy had 214.9 million shares of outstanding common stock. During 2010 the stock traded between $14.46 and $18.11 per share and closed at $17.80.
Tampa Electric serves about 2,000 square miles in West Central Florida, including Hillsborough County and part of Polk, Pasco and Pinellas Counties, with an estimated population of over one million.
Tampa Electric has four electric generating plants in service, with December 2010 net generating capability of 4,684 MW. These plants, the fuel they use and their generating capabilities are listed below:
| MW | ||
| Bayside (natural gas) | 2,083 | |
| Big Bend (coal) | 1,582 | |
| Big Bend CT (natural gas/oil) | 61 | |
| Polk Unit 1 (coal) | 220 | |
| Polk Unit 2 - 5 (natural gas/oil) | 732 | |
System total |
4,678 |
|
Tampa Electric's Peak demands occur in the winter because of electric heating. An all-time winter instantaneous peak load record of 4,760 MW was set on January 11, 2010. Summer peaks are brought on by air conditioning. An all-time summer instantaneous peak load record of 4,352 MW was set on August 20, 2007.
Tampa Electric's retail and wholesale operations are regulated by the Florida Public Service Commission and Federal Energy Regulatory Commission, respectively. Prices allowed by both agencies are generally based on recovery of prudent costs incurred plus a reasonable return on invested capital.
Company Statistics |
||
| Average Customers | 2010 | 2009 |
| Residential | 591,554 | 587,396 |
| Commercial | 70,176 | 70,181 |
| Industrial | 1,434 | 1,422 |
| Other | 7,827 | 7,748 |
Total |
670,991 |
666,747 |
| Revenues (millions) | $2,163.2 | $2,194.8 |
| Retail Megawatt-Hours Sold (millions) | ||
| Residential | 9,185 | 8,667 |
| Commercial | 6,221 | 6,274 |
| Industrial | 2,010 | 1,995 |
| Other | 1,797 | 1,839 |
Total |
19,213 |
18,775 |
| Average Per Residential Customer | ||
| Kilowatt-hour usage | 15,526 | 14,754 |
| Revenue | $1,841.0 | $1,842.8 |
| Revenue Dollar (came from): | ||
| Residential | $0.50 | $0.49 |
| Commercial | 0.30 | 0.31 |
| Industrial | 0.09 | 0.09 |
| Sales for Resale | 0.02 | 0.02 |
| Other | 0.09 | 0.09 |
| Revenue Dollar (went to): | ||
| Fuel & purchased power | $0.44 | $0.50 |
| Taxes | 0.13 | 0.11 |
| Capital | 0.25 | 0.22 |
| Payroll & Benefits | 0.07 | 0.08 |
| Other | 0.11 | 0.09 |
| Generation Mix (percent) | ||
| Coal | 57% | 54% |
| Natural Gas | 42% | 45% |
| Oil | 1% | 1% |
| Fuel Use | ||
| Coal (million tons) | 4.4 | 4.2 |
| Natural Gas (million cubic feet) | 61,925,209 | 63,538,410 |
| Oil (barrels) | 84,363 | 102,678 |
| Fuel Costs (millions) | $767.6 | $923.3 |
| Plant Investments | ||
| Total (billions) | $6.5 | $6.4 |
| Per Customer (Year End) | $9,714.5 | $9,517.3 |
| Construction (millions) | $331.2 | $533.0 |
| Taxes (millions) | ||
| Federal income | $104.5 | $84.4 |
| State income | 17.9 | 14.0 |
| Local property | 43.6 | 41.4 |
| State gross receipts | 50.9 | 52.6 |
| Municipal franchise fees | 38.6 | 39.4 |
| Other | 12.2 | 11.5 |
Total |
$267.7 |
$243.3 |
| Interest Costs | ||
| Interest Expense (millions) | $123.7 | $120.7 |
| Average cost of debt (percent) | 6.61% | 6.73% |
| TECO Energy Dividends (millions) | $174.7 | $170.8 |
| Team Members | 2,300 | 2,324 |
