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Tampa Electric, dignitaries dedicate bayside power station

TAMPA, March 22, 2004

As the first utility in the nation to step up to rigorous new environmental standards, Tampa Electric has become one of the cleanest electric companies in the nation. The sweeping environmental improvement plan the company announced first in 1999 includes as its centerpiece the repowering of the former Gannon Station from coal to natural gas.

The on-time, on-budget completion of this project is being celebrated today, as the company dedicates this new, state-of-the-art facility, to be known as H.L. Culbreath Bayside Power Station in honor of H.L. Culbreath, beloved former TECO Energy employee, officer, chairman of the board and CEO, who passed away in the fall of 2003.

Company management, along with members of the Culbreath family and local and state officials, including Governor Jeb Bush, officially dedicated the power station in a ceremony yesterday at 4 p.m.

Senior Vice President-Generation Chuck Black, who served as the project director for the massive repowering effort said, “This remarkable 1,750-megawatt, $750-million power station not only reduces our air emissions, it also improves the reliability of our service and significantly decreases the average age of our generation equipment, without impacting our base electric rates.”

Black commended the cooperative “above and beyond” effort on the part of employees to get the project completed within cost and time constraints.

Executive Vice President and COO John Ramil said, “From the beginning this has been an excellent business decision for the company – a way to balance the needs of our customers, our shareholders and the environment.”

The project is also significant for Tampa Electric’s parent company, TECO Energy, which has refocused its business strategy on its core utility businesses. Chairman and CEO Bob Fagan said, “The H.L. Culbreath Bayside Station is a living monument to TECO Energy’s utility roots, the company’s ‘back-to-basics’ strategy, and our commitment to environmental excellence for the community in which our employees have lived and worked for more than a century.”

Tampa Electric Company is the principal subsidiary of TECO Energy, Inc. (NYSE:TE), a diversified holding company of energy-related businesses that include Peoples Gas System, TECO Transport, TECO Coal, TECO Wholesale Generation and TECO Solutions.

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