Tampa Electric is an investor-owned electric utility, incorporated in 1899. TECO Energy, its parent, is owned by about 17,000 common stockholders. Its stock is traded on the New York Stock Exchange (TE). As of Dec 31, 2007, TECO Energy had 210,861,000 shares of outstanding common stock with a book value of $9.56 per share. During 2007 the stock traded between $14.84 and $18.58 per share and closed at $17.21.
Tampa Electric serves about 2,000 square miles, including Hillsborough County and parts of Pasco, Pinellas and Polk counties. Total population is over 1 million.
Tampa Electric has seven electric plants and seven combustion Turbine to serve it's customers. These plants, the fuel they use and there capacities are:
| MW | ||
| Bayside (gas) | 1,837 | |
| Big Bend (coal) | 1,605 | |
| Phillips (oil) | 35 | |
| Polk 1 (coal) | 255 | |
| Polk 2 (gas/oil) | 184 | |
| Polk 3 (gas/oil) | 184 | |
| Polk 4 (gas) | 184 | |
| Polk 5 (gas) | 183 | |
| Partnership Stations | 6 | |
| Peaking units (oil) | 129 |
|
| System total | 4,602 |
|
Tampa Electric's peak demands occur in the winter because of electric heating. An all-time winter instantaneous peak load record of 4092 MW was set on Jan. 24, 2003. 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 operations are regulated by the Florida Public Service Commission. Wholesale sales and certain other operations are regulated by the Federal Energy Regulatory Commission.
Company Statistics |
||
| 2007 | 2006 | |
| Customers | ||
| Residential | 588,867 | 581,955 |
| Commercial | 71,024 | 70,287 |
| Industrial | 1,423 | 1,741 |
| Other | 7,277
|
7,068
|
| Total | 668,591 |
661,051 |
| Team Members | 2,531 | 2,452 |
| Revenues (millions) | $2,188.4 | $2,084.9 |
| Retail Megawatt-Hours Sold | ||
| (millions) | ||
| Residential | 8.9 | 8.7 |
| Commercial | 6.5 | 6.3 |
| Industrial | 2.4 | 2.3 |
| Other | 1.7 |
1.7 |
| Total | 19.5 |
19.0 |
| Average Per Residential Customer | ||
| 2007 | 2006 | |
| Kilowatt-hour usage | 15,199 | 15,164 |
| Revenue | $1,734.8 | $1,663.6 |
| Revenue Dollar | ||
| Came from: | ||
| Residential | $0.46 | $0.46 |
| Commercial | 0.30 | 0.29 |
| Industrial | 0.09 | 0.08 |
| Sales for Resale | 0.03 | 0.03 |
| Other | 0.12 | 0.14 |
| Went to: | ||
| Fuel & purchased power | $0.56 | $0.54 |
| Taxes | 0.10 | 0.10 |
| Capital | 0.20 | 0.21 |
| Payroll & benefits | 0.06 | 0.06 |
| Other | 0.08 | 0.09 |
| Fuel Use | ||
| Coal (millions tons) | 4.7 | 5.0 |
| Oil (barrels) | 120,260 | 126,538 |
| Natural gas (millions CF) | 57,556,111 | 51,743 |
| Fuel costs (millions) | $947.9 | $906.8 |
| Generation Mix (percent) | ||
| Coal | 58 | 62 |
| Gas | 41 | 37 |
| Oil | 1 | 1 |
| 2007 | 2006 | |
| Plant Investments | ||
| Total (billions) | $5.6 | $5.3 |
| Per Customer | $8,388.6 | $8,057.3 |
| Construction (millions) | $415.2 | $366.4 |
| Taxes (millions) | ||
| Federal income | $72.7 | $68.4 |
| State income | 12.5 | 11.9 |
| Local Property | 41.4 | 45.8 |
| State gross receipts | 49.9 | 46.3 |
| Municipal franchise fees | 37.3 | 34.9 |
| Other | 11.9 |
11.2 |
| Total | $225.7 |
$218.5 |
| Interest Costs | ||
| Interest expense (millions) | $113.9 | $108.5 |
| Average cost of debt (percent) | 6.4 | 6.0 |
| TECO Energy Common Dividends | ||
| (millions) | $163.0 | $158.7 |
