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):
January 4, 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 January 4, 1996, filed as Exhibit
99.1 and incorporated herein by reference, describing proposed agency
action by the Florida Public Service Commission relating to the
deferral in 1996 of revenues under certain circumstances. If an
affected party does not request a hearing, the order reflecting the
Commission s vote will become effective 21 days from the date of its
issuance which Tampa Electric expects to be within the next few weeks.
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Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated January 4, 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: January 10, 1996 TECO Energy, Inc.
By:/s/ A. D. Oak
A. D. Oak
Senior Vice President-
Finance and Chief
Financial Officer
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INDEX TO EXHIBITS
Exhibit No. Description of Exhibits Page No.
99.1 Press Release dated January 4, 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
PSC ACCEPTS TAMPA ELECTRIC REVENUE
PROPOSAL FOR 1996
TAMPA, Jan. 4, 1996 -- Tampa Electric Company today announced that
the Florida Public Service Commission (FPSC) in a proposed agency action
has approved a proposal which the company expects will help hold down
electric bills after its new Polk Power Station comes into service.
Under terms set forth in the FPSC s ruling, Tampa Electric for 1996
has agreed to hold subject to the FPSC s jurisdiction 50 percent of those
revenues contributing to a range of return on equity of 11.50 percent to
12.50 percent, and 100 percent of revenues contributing to a return on
equity exceeding 12.50 percent. These revenues will be subject to FPSC
disposition to be determined in a future regulatory proceeding.
The revenues will accrue interest at the thirty-day commercial paper
rate as specified in the Florida Administrative Code.
The FPSC had previously approved last May a deferred revenue plan
for calendar year 1995. That plan is unaffected by the FPSC s recent
action which applies only to 1996 revenues.
We are pleased with the FPSC s decision, said Keith Surgenor,
President and Chief Operating Officer of Tampa Electric. This new
agreement will help us to hold the line on our customers bills even as
our new power plant begins full commercial service in the fall.
-more-
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Exhibit 99.1
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.
-30-
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