Tampa Electric Company is a wholly-owned subsidiary of TECO Energy, Inc. and is composed of the electric division, Tampa Electric, and the natural gas division, Peoples Gas Systems. TECO Energy common stock (TE), listed on the New York Stock Exchange, is owned by approximately 16,000 shareholders. As of December 31, 2008, TECO Energy had 212.9 million shares of outstanding common stock. During 2008 the stock traded between $10.50 and $21.99 per share and closed the year at $12.35.
Tampa Electric serves more than 667,000 customers in about 2,000 square miles in West Central Florida, including nearly all of Hillsborough County and parts of Polk, Pasco and Pinellas counties.
Tampa Electric has five electric generating power stations in service. As of December 2008, Tampa Elecric had a net generating capability of 4,477 megawatts (MW). These plants, the fuel they use and their generating capabilities are listed below:
| MW | ||
| Bayside (gas) | 1,837 | |
| Big Bend (coal) | 1,607 | |
| Polk Unit 1 (coal) | 255 | |
| Polk Unit 2 - 5 (natural gas/oil) | 736 | |
| Phillips (oil) | 36 | |
| City of Tampa | 6 | |
| System total | 4,477 |
|
Tampa Electric's peak demand occurs in the winter primarily because of electric heating. An all-time winter instantaneous peak load record of 4,742 MW was set on January 11, 2010. Summer peaks are brought on primarily 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 |
||
| 2008 | 2007 | |
| Average Customers | ||
| Residential | 587,602 | 586,776 |
| Commercial | 70,770 | 70,891 |
| Industrial | 1,421 | 1,494 |
| Other | 7,473 |
7,193 |
| Total | 667,266 |
666,354 |
| Revenues (millions) | $2,091.2 | $2,188.4 |
| Retail Megawatt-Hours Sold (millions) | ||
| Residential | 8,546 | 8,871 |
| Commercial | 6,399 | 6,542 |
| Industrial | 2,205 | 2,366 |
| Other | 1,840 |
1,754 |
| Total | 18,990 |
19,533 |
| Average Kwh Per Residential Customer | ||
| Kilowatt-hour usage | 14,545 | 15,119 |
| Revenue produced from residential customer per Kwh | $1,670.7 | $1,734.8 |
| Revenue Dollar (came from) | ||
| Residential | $0.47 | $0.46 |
| Commercial | 0.31 | 0.30 |
| Industrial | 0.08 | 0.09 |
| Sales for resale | 0.03 | 0.03 |
| Other | 0.11 | 0.12 |
| Revenue Dollar (went to) | ||
| Fuel & purchased power | $0.54 | $0.56 |
| Taxes | 0.10 | 0.10 |
| Capital | 0.21 | 0.20 |
| Payroll & benefits | 0.07 | 0.06 |
| Other | 0.08 | 0.08 |
| Generation Mix (percent) | ||
| Coal | 59% | 58% |
| Gas | 40% | 41% |
| Oil | 1% | 1% |
| Fuel Use | ||
| Coal (million tons) | 4.6 | 4.7 |
|
Oil (million barrels) |
54 | 58 |
| Natural gas (millions cubic feet) | 92,344 | 120,260 |
| Fuel costs (millions) | $819.4 | $947.9 |
| Plant Investments | ||
| Total (billions) | $6.0 | $5.6 |
| Per customer | $8,931.5 | $8,388.6 |
| Construction (millions) | $479.7 | $373.8 |
| Taxes (millions) | ||
| Federal income | $70.0 | $72.7 |
| State income | $11.9 | $12.5 |
| Local property | $40.3 | $41.5 |
| State gross receipts | $48.4 | $49.9 |
| Municipal franchise fees | $36.3 | $37.3 |
| Other | $11.5 |
$11.7 |
| Total | $218.4 |
$225.6 |
| Interest Costs | ||
| Interest expense (millions) | $117.1 | $113.9 |
| Average cost of debt | 6.82% | 6.44% |
| TECO Energy Dividends (millions) | $168.6 | $163.0 |
| Tampa Electric Team Members | 2,535 | 2,531 |
