SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 13, 1996
TECO ENERGY, INC.
(Exact name of registrant as specified in its charter)
FLORIDA 1-8180 59-2052286
(State or other jurisdiction (Commission file (IRS Employer
of incorporation) Number) Identification No.)
702 North Franklin Street, Tampa Florida 33602
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (813) 228-4111
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Item 5. Other Events
See the Press Release dated February 15, 1996, filed as
Exhibit 99.1 and incorporated herein by reference, describing the
filings with the Florida Public Service Commission (FPSC) by the
Office of Public Counsel and the Florida Industrial Power Users
Group, which protest the FPSC's order of proposed agency action
on the deferral in 1996 of Tampa Electric revenues under certain
circumstances.
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Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated February 15, 1996.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
Dated: February 15, 1996 TECO Energy, Inc.
By:/s/ S. W. Callahan
S. W. Callahan
Treasurer
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INDEX TO EXHIBITS
Exhibit No. Description of Exhibits Page No.
99.1 Press Release dated February 15, 1996 6
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Exhibit 99.1
(Tampa Electric Company letterhead)
FOR IMMEDIATE RELEASE
Contact: Mike Mahoney
Office:813-228-4271
Home:813-991-6229
TAMPA ELECTRIC S REVENUE PROPOSAL
RECEIVES PROTEST
TAMPA, Feb. 15, 1996 -- Florida's Office of Public Counsel
(OPC) and the Florida Industrial Power Users Group (FIPUG) have
protested the order approving proposed agency action issued last
month by the Florida Public Service Commission (PSC). As a
result, this order will not become final and go into effect.
Under its terms, Tampa Electric would have agreed for 1996
to hold subject to the PSC's jurisdiction 50 percent of any
revenues contributing to a return on equity in excess of 11.50
percent up to 12.50 percent, and 100 percent of any revenues
contributing to a return on equity exceeding 12.50 percent. These
revenues then would have been subject to PSC jurisdiction for
disposition to be determined in a future regulatory proceeding.
Among other things, the intervenors challenge the ROE levels
contained in the proposed action and how actual ROE S would be
calculated.
Said Tampa Electric President Keith Surgenor, "Our objective
is to use deferred revenues to help hold down customers' electric
bills after Tampa Electric's new state-of-the-art Polk Power
Station comes into service late this year. We intend to continue
our efforts to accomplish this objective on terms that are fair
to our customers and shareholders."
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Exhibit 99.1
As a result of the protests and the PSC s order last month,
Tampa Electric will continue to defer in 1996, as it had done in
1995, revenues contributing to an ROE above 12.75 percent unless
this level is changed as a result of PSC hearings or by
agreement. The deferred revenue plan for calendar year 1995
previously approved by the PSC remains unaffected by the proposal
currently under protest.
Tampa Electric is a regulated public utility serving over
one-half million customers in a 2,000 square mile service area in
west central Florida. It is the principal subsidiary of TECO
Energy, Inc., a diversified, energy-related holding company also
headquartered in Tampa.
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