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Previous: SOLV EX CORP, S-3, 1996-02-28 |
Next: CAMELOT FUNDS /KY, NSAR-B, 1996-02-28 |
File No. 69-250
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U-3A-2
Statement by Holding Company Claiming
Exemption under Rule U-3A-2 from the
Provisions of the Public Utility Holding
Company Act of 1935
To be Filed Annually Prior to March 1
TECO Energy, Inc., TECO Power Services Corporation and Hardee
Power I, Inc., hereby file with the Securities and Exchange
Commission, pursuant to Rule 2, their statements claiming
exemption as holding companies from the provisions of the Public
Utility Holding Company Act of 1935 (the "Act") and submit the
following information:<PAGE>
1. Name, state of organization, location and nature of business
of claimants and every subsidiary thereof, other than any
exempt wholesale generator (EWG) or foreign utility company
in which claimants directly or indirectly hold an interest.
Claimant, TECO Energy, Inc. ("TECO Energy"), is a corporation
organized on Jan. 15, 1981, under the laws of the State of
Florida and a holding company exempt from registration
pursuant to Rule 2 under the Act (File no. 69-250). TECO
Energy conducts no business and owns no operating assets, but
does own directly or indirectly the common stock of, or a
partnership interest in, 37 subsidiaries. All of the
subsidiaries are organized under the laws of Florida with the
exception of Electro-Coal Transfer Corporation, which is a
Louisiana corporation; TECO Coal Corporation, Gatliff Coal
Company, Clintwood Elkhorn Mining Company, Pike-Letcher Land
Company and Premier Elkhorn Coal Company, which are Kentucky
c o rporations; Rich Mountain Coal Company, which is a
Tennessee corporation; and TECO Coalbed Methane, Inc., which
is an Alabama corporation.
Claimant, TECO Power Services Corporation ("TECO Power"), is
a corporation organized on May 26, 1987 under the laws of the
S t a te of Florida and a holding company exempt from
registration pursuant to Rule 2 under the Act (File no. 69-
250). TECO Power owns no operating assets, but does own
directly or indirectly the common stock of, or a partnership
i n terest in, nine affiliated companies. All of the
affiliates are organized under the laws of Florida with the
e x c eption of Tampa Centro Americana De Electricidad,
Limitada, of which TPS Guatemala One, Inc. owns an 87.5-
percent partnership interest, which is organized under the
laws of Guatemala. TECO Power is a direct wholly owned
subsidiary of TECO Energy.
Claimant, Hardee Power I, Inc. ("Hardee Power I"), is a
corporation organized on March 21, 1990, under the laws of
the State of Florida and a holding company exempt from
registration pursuant to Rule 2 under the Act (File no. 69-
250). Hardee Power I, owns no operating assets, but does own
a general partnership interest in Hardee Power Partners, Ltd.
("Hardee Power Partners"), a public utility company for
purposes of the Act. Hardee Power Partners is a limited
partnership organized under the laws of Florida. Hardee
Power I is a direct wholly owned subsidiary of TECO Power and
has no subsidiaries or partnership interests other than a
partnership interest in Hardee Power Partners.
2<PAGE>
TECO Energy previously applied for and received an order
pursuant to Sections 9(a)(2) and 10 of the Act approving its
direct or indirect acquisition of up to 100% of the voting
securities of Hardee Power Partners. (See Act Release No.
35-25199). Other than Hardee Power Partners, no subsidiary
of TECO Power or Hardee Power I is a public utility company
for purposes of the Act.
The principal business address, location and nature of
business of the claimants and each of the 37 affiliated
entities are as follows:
Name and address Location and nature of
business
TECO Energy, Inc. Florida. Parent company.
(TECO Energy)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Tampa Electric Company Florida. Generates, purchases,
(Tampa Electric) transmits, distributes and
TECO Plaza sells electric energy.
702 North Franklin Street
Tampa, FL 33602
TERMCO, Inc. Florida. Acts as exclusive
(TERMCO) broker for Tampa Electric
TECO Plaza in the purchase and sale
702 N. Franklin Street of real property.
Tampa, FL 33602
TECO Investments, Inc. Florida. Invests capital
(TECO Investments) in short- and long-term
TECO Plaza financial investments.
702 North Franklin Street
Tampa, FL 33602
TeCom Inc. Florida.Development of energy
(TeCom) management and communications
TECO Plaza systems.
702 North Franklin Street
Tampa, FL 33602
TECO Finance, Inc. Florida. Finances primarily
(TECO Finance) the diversified activities of
TECO Plaza TECO Energy.
702 North Franklin Street
Tampa, FL 33602
3<PAGE>
Name and address Location and nature of
business
TECO Diversified, Inc. Florida. Holding company
(TECO Diversified) for TECO Transport, TECO
TECO Plaza Coal, TECO Properties and
702 North Franklin Street TECO Coalbed Methane.
Tampa, FL 33602
TECO Coal Corporation Kentucky. Holding company
(TECO Coal) for Gatliff, Clintwood,
P. O. Box 39 Rich Mountain, Pike-Letcher
Nevisdale, KY 40754 and Premier Elkhorn.
Clintwood Elkhorn Mining Kentucky. Coal mining.
Company
(Clintwood)
P. O. Box 39
Nevisdale, KY 40754
Gatliff Coal Company Kentucky. Coal mining and
(Gatliff) processing company.
P. O. Box 39
Nevisdale, KY 40754
Pike-Letcher Land Company Kentucky. Land management
(Pike-Letcher) company.
P. O. Box 39
Nevisdale, KY 40754
Premier Elkhorn Coal Company Kentucky. Coal mining and
(Premier Elkhorn) processing company.
P. O. Box 39
Nevisdale, KY 40754
Rich Mountain Coal Company Tennessee. Coal mining
(Rich Mountain) company.
P. O. Box 39
Nevisdale, KY 40754
TECO Coalbed Methane, Inc. Alabama. Participates in
(TECO Coalbed Methane) the production of natural
TECO Plaza gas from coal seams.
702 North Franklin Street
Tampa, FL 33602
TECO Gas & Oil, Inc. Florida. Participates in
(TECO Gas & Oil) exploration and production
TECO Plaza of gas and oil in Gulf of
702 N. Franklin Street Mexico, offshore Texas and
Tampa, FL 33602 Louisiana.
4<PAGE>
Name and address Location and nature of
business
TECO Properties Corporation Florida. Real estate
(TECO Properties) investment company.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
CPSC, Inc. Florida. General partner
(CPSC) of City Plaza Partners,
TECO Plaza a limited partnership in
702 N. Franklin Street a real estate investment.
Tampa, FL 33602
City Plaza Partners, Ltd. Florida. Limited partnership
(City Plaza Partners) in a real estate investment.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
30th Street R&D Park, Inc. Florida. Real estate
(30th Street R&D) investment.
702 N. Franklin Street
Tampa, FL 33602
Tampa Essex, Inc. Florida. General partner
(Tampa Essex) of Tampa Essex Place
TECO Plaza Associates, Ltd., a limited
702 N. Franklin Street partnership in a real estate
Tampa, FL 33602 investment.
Tampa Essex Place Florida. Limited partnership
Associates, Ltd. in real estate investment.
(Tampa Essex LTD)
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
UTC II, Inc. Florida. Real estate
(UTC II) investment.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
TECO Transport & Trade Florida. Holding company
Corporation for Electro-Coal, Gulfcoast,
(TECO Transport) Mid-South, G C Service and
TECO Plaza TECO Towing.
702 N. Franklin Street
Tampa, FL 33602
5<PAGE>
Name and address Location and nature of
business
Electro-Coal Transfer Louisiana. Transfers and
Corporation stores coal and other bulk
(Electro-Coal) commodities.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
G C Service Company, Inc. Florida. Unloads coal from
(G C Service) ocean-going barges and
TECO Plaza repairs vessels.
702 N. Franklin Street
Tampa, FL 33602
Gulfcoast Transit Company Florida. Transports coal and
(Gulfcoast) other bulk commodities in
TECO Plaza ocean-going barges to various
702 N. Franklin Street domestic and international
Tampa, FL 33602 destinations.
Mid-South Towing Company Ohio and Mississippi
(Mid-South) rivers. Transports coal
TECO Plaza and other bulk commodities
702 N. Franklin Street in river barges.
Tampa, FL 33602
TECO Towing Company Ohio and Mississippi rivers.
(TECO Towing) Charters river barges and
TECO Plaza purchases fuel for subsequent
702 N. Franklin Street resale to affiliated companies.
Tampa, FL 33602
TECO Power Services Corporation Florida. Holding company.
(TECO Power) Developer and joint venture
TECO Plaza partner in independent power
702 North Franklin Street generation projects. (1)
Tampa, FL 33602
Hardee Power I, Inc. Florida. General partner
(Hardee Power I) of Hardee Power Partners. (1)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
6<PAGE>
Name and address Location and nature of
business
Hardee Power II, Inc. Florida. Limited partner of
(Hardee Power II) Hardee Power Partners.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Hardee Power Partners, Ltd. Florida. Limited
(Hardee Power Partners) partnership which owns
TECO Plaza Hardee Power Station, a
702 North Franklin Street wholesale power generation
Tampa, FL 33602 project. (1)
TPS Panama One, Inc. Florida.Subsidiary formed for
(TPS Panama One) the purpose of potentially
TECO Plaza developing a wholesale power
702 North Franklin Street generation project.
Tampa, FL 33602
TPS Guatemala One, Inc. Florida. Developer and joint
(TPS Guatemala One) venture partner in a whole-
TECO Plaza sale power generation
702 North Franklin Street project.(2)
Tampa, FL 33602
Tampa Centro Americana Guatemala. Partnership
De Electricidad, Limitada which owns Alborada Power
(TCAE) Station, a wholesale power
7a. Avda, 6-53 Zona 4 generation project which
Edifico El Triangulo 5 o Nivel began operations in 1995.(2)
Guatemala City, Guatemala
TPS Operations Company Florida. Operator of Hardee
(TPS Operations) Power Station on a
TECO Plaza cost-reimbursement basis.
702 North Franklin Street
Tampa, FL 33602
TPS Clean Coal, Inc. Florida.Subsidiary formed for
(TPS Clean Coal) the purpose of potentially
TECO Plaza developing a wholesale power
702 North Franklin Street generation project.
Tampa, FL 33602
Lake County Power Resources Florida.Subsidiary formed for
Inc. (Lake County Power) the purpose of potentially
TECO Plaza developing a wholesale power
702 North Franklin Street generation project.
Tampa, FL 33602
(1) Hardee Power I, as the general partner and Hardee Power II,
7<PAGE>
as the limited partner of Hardee Power Partners; TECO Power
Services, as the owner of all outstanding voting securities
of Hardee Power I and Hardee Power II and thus the indirect
owner of all outstanding voting securities of Hardee Power
Partners; and TECO Energy, as the owner of all outstanding
voting securities of TECO Power Services and thus the
indirect owner of all outstanding voting securities of
Hardee Power Partners, are each a "holding company" with
respect to Hardee Power Partners for purposes of the Act.
(2) TPS Guatemala One has an 87.5-percent ownership interest in
TCAE at Dec. 31, 1995.
2. A brief description of the properties of claimants and each
of their subsidiary public utility companies used for the
generation, transmission, and distribution of electric energy
f o r sale, or for the production, transmission, and
distribution of natural or manufactured gas, indicating the
location of principal generating plants, transmission lines,
producing fields, gas manufacturing plants, and electric and
gas distribution facilities, including all such properties
which are outside the State in which the claimants and their
subsidiaries are organized and all transmission or pipelines
which deliver or receive electric energy or gas at the
borders of such State.
The only properties to which this question applies are the
following properties of Tampa Electric and Hardee Power
Partners:
Tampa Electric had four electric generating plants and four
combustion turbine units in service with a total net
generating capability at Dec. 31, 1995 of 3,404 megawatts
(MW) including Big Bend (1,748-MW capability for four coal
units), Gannon (1,206-MW capability for six coal units),
Hookers Point (212-MW capability for five oil units),
Phillips (34-MW capability for two diesel units) and four
combustion turbine units located at the Big Bend and Gannon
stations (204 MWs). Capability as used herein represents the
demonstrable dependable load carrying abilities of the
generating units during peak periods as proven under actual
operating conditions. Units at Hookers Point went into
service from 1948 to 1955, at Gannon from 1957 to 1967, and
at Big Bend from 1970 to 1985. In 1991 Tampa Electric
purchased two power plants (Dinner Lake and Phillips) from
the Sebring Utilities Commission (Sebring). Dinner Lake and
Phillips were placed in service by Sebring in 1966 and 1983,
respectively. In March 1994, Tampa Electric placed Dinner
Lake on long-term reserve standby.
Tampa Electric owns approximately 4,350 acres of land in Polk
County, Florida. This site accommodates Polk Unit One, a
250-MW coal gasification plant currently being constructed
and scheduled for operation in the fourth quarter of 1996,
and additional generating capacity in the future.
8<PAGE>
Tampa Electric owns 178 substations having an aggregate
transformer capacity of 15,777,966 KVA. The transmission
system consists of approximately 1,203 pole miles of high
voltage transmission lines, and the distribution system
consists of 6,822 pole miles of overhead lines and 2,444
trench miles of underground lines. As of Dec. 31, 1995,
there were 501,909 meters in service. All the foregoing
property is located within Florida.
All plants and important fixed assets are held in fee except
that title to some of the properties is subject to easements,
leases, contracts, covenants and similar encumbrances and
minor defects, of the nature common to properties of the size
and character of those of Tampa Electric.
Tampa Electric has easements for rights-of-way adequate for
the maintenance and operation of its electrical transmission
and distribution lines that are not constructed upon public
highways, roads and streets. It has the power of eminent
domain under Florida law for the acquisition of any such
r i g h ts-of-way for the operation of transmission and
distribution lines. Transmission and distribution lines
located in public ways are maintained under franchises or
permits.
Tampa Electric has a long-term lease for the office building
in downtown Tampa, Florida, that serves as headquarters for
Tampa Electric, TECO Energy and certain other TECO Energy
subsidiaries.
Hardee Power Partners has one electric generating plant, the
Hardee Power Station, which went into commercial operation
Jan. 1, 1993. The station is located in Hardee County,
Florida on property under a long-term lease. The plant has a
net generating capability of 295 MWs consisting of one
combined cycle unit (220 MWs) and one combustion turbine (75
MWS). Capability as used herein represents the demonstrable
dependable load carrying abilities of the unit during peak
periods as proven under demonstration tests. Hardee Power
Partners owns no transmission or distribution facilities.
9<PAGE>
3. The following information for the last calendar year with
respect to the claimants and each of their subsidiary public
utility companies:
(a) Number of KWH of electric energy sold (at retail or
wholesale), and Mcf. of natural or manufactured gas
distributed at retail.
TECO Energy - None
Tampa Electric - 17,306,148,000 KWH
TECO Power - None
Hardee Power I - None
Hardee Power Partners - 662,126,000 KWH
No distribution of natural or manufactured gas.
(b) Number of KWH of electric energy and Mcf. of natural or
manufactured gas distributed at retail outside the State
in which each such company is organized.
TECO Energy - None
Tampa Electric - None
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
(c) Number of KWH of electric energy and Mcf. of natural or
manufactured gas sold at wholesale outside the State in
which each such company is organized or at the State
line.
TECO Energy - None
Tampa Electric - 28,576,000 KWH
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
10<PAGE>
(d) Number of KWH of electric energy and Mcf. of natural or
manufactured gas purchased outside the State in which
each such company is organized or at the State line.
TECO Energy - None
Tampa Electric - 7,667,000 KWH
TECO Power - None
Hardee Power I - None
Hardee Power Partners - 5,676,650 Mcf. of natural
gas
4. The following information for the reporting period with
respect to claimants and each interest held directly or
indirectly in an EWG or a foreign utility company, stating
monetary amounts in United States dollars.
(a) Name, location, business address and description of the
facilities used by the EWG or foreign utility company for
the generation, transmission and distribution of electric
energy for sale or for the distribution at retail of
natural or manufactured gas.
Facility name, address and location:
Alborada Power Station
Escuintla, Guatemala
approximately 35 miles southwest of
Guatemala City, Guatemala
Description:
A 78-MW facility consisting of two General
Electric LM6000 turbines operated in simple
cycle. Also includes a 230KV switchyard with
t w o 13.8KV transformers and associated
equipment.
(b) Name of each system company that holds an interest in
such EWG or foreign utility company; and the description
of the interest held.
At Dec. 31, 1995:
TECO Power had a 100-percent ownership interest
in TPS Guatemala One.
TPS Guatemala One had an 87.5-percent ownership
interest in TCAE.
TCAE has a 100-percent ownership interest in the Alborada
Power Station.
11<PAGE>
(c) Type and amount of capital invested, directly or
indirectly, by the holding company claiming exemption;
any direct or indirect guarantee of the security of the
EWG or foreign utility company by the holding company
claiming exemption; and any debt or other financial
obligation for which there is recourse, directly or
indirectly, to the holding company claiming exemption or
another system company, other than the EWG or foreign
utility company.
At Dec. 31, 1995:
TECO Power had advanced to TPS Guatemala One -
$35,029,400
TPS Guatemala One had advanced to TCAE - $33,032,901
TPS Guatemala One equity contribution to TCAE - $76,087
There are no other guarantees or loans between system
companies and Guatemala One or TCAE.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
Total capitalization of TCAE at Dec. 31, 1995 was
$40,979,393.
Total earnings of TCAE for the period ended Dec. 31, 1995
were $3,140,554. TPS Guatemala One s portion of the
earnings of TCAE for the period ended Dec. 31, 1995 was
$2,747,985.
(e) Identify any service, sales or construction contract(s)
between the EWG or foreign utility company and a system
company, and describe the services to be rendered or
goods sold and fees or revenues under such agreement(s).
None.
Attached hereto as Exhibit A are consolidating statements of
income and retained earnings and a consolidating balance sheet of
T E CO Energy, TECO Power, and Hardee Power I, and their
subsidiaries for the calendar year 1995.
Exhibit B, Financial Data Schedule, was included in the filing
made electronically with the Securities and Exchange Commission
via EDGAR as EX-27.
Attached hereto as Exhibit C is an abbreviated organizational
chart showing the relationship of TECO Energy, TECO Power, TPS
Guatemala One and TCAE.
12<PAGE>
Each of TECO Energy, TECO Power, and Hardee Power I has caused
this statement to be duly executed on its behalf by its
authorized officer on this 28th day of February, 1996.
(CORPORATE SEAL) TECO ENERGY, INC.
Attest: BY:/s/ W. L. Griffin
W.L. Griffin
Vice President-Controller
R. H. Kessel, Secretary
(CORPORATE SEAL) T E C O POWER SERVICES
CORPORATION
Attest: BY:/s/ L. A. Miller
L. A. Miller
R. H. Kessel, Secretary Vice President-Controller
(CORPORATE SEAL) HARDEE POWER I, INC.
Attest: BY:/s/ L. A. Miller
L. A. Miller
R. H. Kessel, Secretary Vice President
N a me, title and address of officer to whom notices and
correspondence concerning this statement should be addressed:
Name: W. L. Griffin
Title: Vice President-Controller
Address: TECO Energy, Inc.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
13<PAGE>
<TABLE>
EXHIBIT A
PAGE 1 OF 40
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
<CAPTION>
Tampa TECO TECO
Electric Diversified Energy - Energy, Inc.
ASSETS Company Companies (1) Parent Only Other Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash equivalents $ 3,832 $ 7,173 $ ( 612) $ (134) $ - $ 10,259
Short-term investments - 32,176 - - - 32,176
Receivables, less
allowance for
uncollectibles 120,273 141,053 122,035 227,766 (447,591) 163,536
Inventories, at average
cost
Fuel 69,977 6,760 - - - 76,737
Materials and supplies 38,657 10,282 - 45 - 48,984
Prepayments 3,547 4,379 - 1,648 - 9,574
236,286 201,823 121,423 229,325 (447,591) 341,266
Investment in subsidiaries - - 1,472,621 - (1,472,621) -
Property, plant & equipment,
at original cost
Utility plant in service 2,930,178 224,348 - - - 3,174,526
Construction work in
progress 475,260 4,326 - - - 479,586
Other property 859 833,513 - 1,149 890 836,411
3,406,297 1,082,127 - 1,149 890 4,490,523
Less accum. depreciation 1,203,284 412,896 - 51 - 1,616,231
2,203,013 669,291 - 1,098 890 2,874,292
Other assets
Other investments - 84,002 2,275 - - 86,277
Deferred income taxes 59,002 6,904 - - - 65,906
Deferred charges &
other assets 68,433 29,742 7,294 157 - 105,626
127,435 120,648 9,569 157 - 257,809
$ 2,566,734 $ 991,762 $1,603,613 $230,580 ($1,919,322) $3,473,367
(1)Diversified companies comprise TECO Investments, TECO Diversified consolidated, TECO Gas & Oil
and TECO Power consolidated.
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 2 OF 40
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
<CAPTION>
Tampa TECO TECO
Electric Diversified Energy - Energy, Inc.
LIABILITIES AND CAPITAL Company Companies(1) Parent Only Other Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current liabilities
Long-term debt due
within one year $ 26,030 $ 5,297 $ - $ - $ - $ 31,327
Notes payable 144,500 7,134 86,374 221,400 (91,108) 361,340
Accounts payable 117,430 95,968 286,493 3,206 (356,784) 146,313
Customer deposits 51,273 - - - - 51,273
Interest accrued 8,921 1,653 1,946 777 - 13,297
Taxes accrued 16,487 4,126 (7,717) (1,510) 345 11,731
364,641 114,178 367,096 216,913 (447,547) 615,281
Deferred income taxes 296,204 57,650 (31,714) 74,484 396,624
Investment tax credit 58,499 2,848 - - - 61,347
Regulatory liability -
tax related 47,558 - - - - 47,558
Other deferred credits 121,631 12,338 2,123 - - 136,092
Long-term debt, less
amount due within one year 583,097 261,759 100,000 50,000 - 994,856
Preferred stock of
Tampa Electric 54,956 - - - - 54,956
Common stock 851,957 417,728 458,873 101 (1,269,786) 458,873
Retained earnings 188,191 50,777 781,469 (36,434) (201,989) 782,014
Unearned compensation
related to ESOP - - (74,234) - - (74,234)
$2,566,734 $991,762 $1,603,613 $230,580 ($1,919,322) $3,473,367
(1)Diversified companies comprise TECO Investments, TECO Diversified consolidated, TECO Gas & Oil
and TECO Power consolidated.
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 3 OF 40
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
<CAPTION>
Tampa TECO TECO
Electric Diversified Energy - Energy, Inc.
Company Companies(1) Parent Only Other Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Revenues $1,092,256 $505,731 $ - $ 1,318 $(207,020) $1,392,285
Expenses
Operation 591,899 310,719 3,597 1,936 (223,505) 684,646
Maintenance 69,635 31,679 - - - 101,314
Depreciation 113,253 61,307 - 51 44 174,655
Taxes-other than income 87,929 26,039 - - - 113,968
Taxes-section 29 credits - (20,596) - - 20,596 -
862,716 409,148 3,597 1,987 (202,865) 1,074,583
Income from operations 229,540 96,583 ( 3,597) (669) (4,155) 317,702
Other income (expense)
Allowance for other funds
used during construction 13,715 - - - - 13,715
Other income (expense), net (674) 614 8,967 2 (8,309) 600
Preferred dividend req.
of Tampa Electric - - - - (3,568) (3,568)
13,041 614 8,967 2 (11,877) 10,747
Income before interest &
income taxes 242,581 97,197 5,370 (667) (16,032) 328,449
Interest charges
Interest expense 48,475 4,875 9,885 16,796 8,782 88,813
Allowance for borrowed
funds used during
construction (5,609) - - - - (5,609)
42,866 4,875 9,885 16,796 8,782 83,204
Income before provision
for income taxes 199,715 92,322 (4,515) (17,463) (24,814) 245,245
Provision for income taxes 66,024 23,225 (2,190) (6,736) (21,205) 59,118
Preferred dividend req.
of Tampa Electric 3,568 - - - (3,568) -
Net income $ 130,123 $ 69,097 $(2,325) $(10,727) $ (41) $ 186,127
(1)Diversified companies comprise TECO Investments, TECO Diversified consolidated, TECO Gas & Oil
and TECO Power consolidated.
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 4 OF 40
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
<CAPTION>
Tampa TECO TECO
Electric Diversified Energy - Energy, Inc.
Company Companies(1) Parent Only Other Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning of
period $173,299 $ 43,392 $715,095 ($23,707) ($190,412) $715,667
Add
Net income 133,691 69,097 186,154(2) (10,727) (192,088) 186,127
Tax benefits - ESOP
dividends - - 2,176 - - 2,176
306,990 112,489 903,425 (36,434) (382,500) 903,970
Deduct
Cash dividends on
capital stock
Preferred 3,568 - - - (3,568) -
Common 115,231 61,712 121,956 - (176,943) 121,956
Balance, end of period $188,191 $ 50,777 $781,469 ($36,434) ($201,989) $782,014
(1) Diversified companies comprise TECO Investments, TECO Diversified consolidated, TECO Gas & Oil
and TECO Power consolidated.
(2) Includes $188,479 of TECO Energy's equity in earnings of subsidiaries.
</TABLE>
<PAGE>
EXHIBIT A
PAGE 5 OF 40
TECO TRANSPORT & TRADE
CONSOLIDATED BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 199
Receivables, less allowance for uncollectibles 91,391
Inventories, at average cost
Materials and supplies 7,129
Prepayments 1,208
99,927
Property, plant and equipment, at original cost
Construction work in progress 2,838
Other property 408,327
411,165
Less accumulated depreciation 254,612
156,553
Other assets
Deferred income taxes 1,241
Deferred charges & other assets 441
1,682
$258,162 <PAGE>
EXHIBIT A
PAGE 6 OF 40
TECO TRANSPORT & TRADE
CONSOLIDATED BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 13,240
Interest accrued 648
Taxes accrued (221)
13,667
Deferred income taxes 25,880
Investment tax credit 2,848
Other deferred credits 8,225
Long-term debt, less amount due within one year 110,600
Common stock 52,133
Retained earnings 44,809
$258,162 <PAGE>
EXHIBIT A
PAGE 7 OF 40
TECO TRANSPORT & TRADE
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Revenues $197,552
Expenses
Operation 108,800
Maintenance 19,467
Depreciation 25,908
Taxes-other than income 6,168
160,343
Income from operations 37,209
Other income 241
Income before interest & income taxes 37,450
Interest expense 4,524
Income before provision for income taxes 32,926
Provision for income taxes 11,638
Net income $ 21,288 <PAGE>
EXHIBIT A
PAGE 8 OF 40
TECO TRANSPORT & TRADE
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Balance, beginning of period $42,162
Add
Net income 21,288
63,450
Deduct
Cash dividends on capital stock
Common 18,641
Balance, end of period $44,809 <PAGE>
EXHIBIT A
PAGE 9 OF 40
TECO COAL
CONSOLIDATED BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 350
Short-term investments 5
Receivables, less allowance for uncollectibles 23,345
Inventories, at average cost
Fuel 5,428
Materials and supplies 1,487
Prepayments 2,721
33,336
Property, plant and equipment, at original cost
Construction work in progress 1,488
Other property 189,526
191,014
Less accumulated depreciation 73,244
117,770
Other assets
Deferred income taxes 16,587
Deferred charges & other assets 4,516
21,103
$172,209 <PAGE>
EXHIBIT A
PAGE 10 OF 40
TECO COAL
CONSOLIDATED BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 23,237
Taxes accrued 3,672
26,909
Deferred income taxes 485
Other deferred credits 2,017
Common stock 123,677
Retained earnings 19,121
$172,209 <PAGE>
EXHIBIT A
PAGE 11 OF 40
TECO COAL
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Revenues $192,341
Expenses
Operation 130,722
Maintenance 9,640
Depreciation 12,403
Taxes-other than income 14,713
167,478
Income from operations 24,863
Other income 15
Income before interest & income taxes 24,878
Interest expense 12
Income before provision for income taxes 24,866
Provision for income taxes 7,187
Net income $ 17,679 <PAGE>
EXHIBIT A
PAGE 12 OF 40
TECO COAL
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Balance, beginning of period $16,931
Add
Net income 17,679
34,610
Deduct
Cash dividends on capital stock
Common 15,489
Balance, end of period $19,121 <PAGE>
EXHIBIT A
PAGE 13 OF 40
TECO PROPERTIES
CONSOLIDATED BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 298
Receivables, less allowance for uncollectibles 5,352
Prepayments 1
5,651
Property, plant and equipment, at original cost
Other property 29,383
Less accumulated depreciation 3,411
25,972
Other assets
Other investments 17,928
Deferred income taxes 1,147
Deferred charges & other assets 438
19,513
$51,136 <PAGE>
EXHIBIT A
PAGE 14 OF 40
TECO PROPERTIES
CONSOLIDATED BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ 174
Accounts payable 476
Taxes accrued 1
651
Deferred income taxes 1,078
Common stock 49,985
Retained earnings (578)
$51,136 <PAGE>
EXHIBIT A
PAGE 15 OF 40
TECO PROPERTIES
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Revenues $2,954
Expenses
Operation 1,179
Depreciation 277
Taxes-other than income 247
1,703
Income from operations 1,251
Other income 28
Income before provision for income taxes 1,279
Provision for income taxes 490
Net income $ 789 <PAGE>
EXHIBIT A
PAGE 16 OF 40
TECO PROPERTIES
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Balance, beginning of period ($ 327)
Add
Net income 789
462
Deduct
Cash dividends on capital stock
Common 1,040
Balance, end of period ($ 578)<PAGE>
EXHIBIT A
PAGE 17 OF 40
TECO COALBED METHANE
BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 391
Receivables, less allowance for uncollectibles 5,877
6,268
Property, plant and equipment, at original cost
Other property 203,343
Less accumulated depreciation 62,484
140,859
$147,127 <PAGE>
EXHIBIT A
PAGE 18 OF 40
TECO COALBED METHANE
BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 588
Notes payable 104,433
Accounts payable 1,865
Taxes accrued (1,465)
105,421
Deferred income taxes 30,207
Other deferred credits 1,410
Long-term debt, less amount due within one year 2,684
Retained earnings 7,405
$147,127 <PAGE>
EXHIBIT A
PAGE 19 OF 40
TECO COALBED METHANE
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Revenues $35,094
Expenses
Operation 15,511
Depreciation 15,868
Taxes-other than income 1,504
Taxes-section 29 credits (20,596)
12,287
Income before interest & income taxes 22,807
Interest expense 339
Income before provision for income taxes 22,468
Provision for income taxes 716
Net income $21,752 <PAGE>
EXHIBIT A
PAGE 20 OF 40
TECO COALBED METHANE
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Balance, beginning of period $ 5,886
Add
Net income 21,752
27,638
Deduct
Cash dividends on capital stock
Common 20,233
Balance, end of period $ 7,405 <PAGE>
EXHIBIT A
PAGE 21 OF 40
TECO INVESTMENTS
BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 136
Short-term investments 32,171
32,307
Other assets
Other investments 64,607
$96,914 <PAGE>
EXHIBIT A
PAGE 22 OF 40
TECO INVESTMENTS
BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $23,108
Taxes accrued 824
23,932
Deferred income taxes 66,783
Common stock 5,169
Retained earnings 1,030
$96,914 <PAGE>
EXHIBIT A
PAGE 23 OF 40
TECO INVESTMENTS
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Revenues $2,340
Expenses
Operation 2,409
Income before provision for income taxes (69)
Provision for income taxes (1,269)
Net income $1,200 <PAGE>
EXHIBIT A
PAGE 24 OF 40
TECO INVESTMENTS
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Balance, beginning of period $ 983
Add
Net income 1,200
2,183
Deduct
Cash dividends on capital stock
Common 1,153
Balance, end of period $ 1,030 <PAGE>
EXHIBIT A
PAGE 25 OF 40
TECO FINANCE
BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ (135)
Receivables, less allowance for uncollectibles 227,766
Prepayments 1,648
$229,279 <PAGE>
EXHIBIT A
PAGE 26 OF 40
TECO FINANCE
BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ -
Notes payable 214,440
Accounts payable 68
Interest accrued 777
Taxes accrued (824)
214,461
Long-term debt, less amount due within one year 50,000
Common stock 100
Retained earnings (35,282)
$229,279 <PAGE>
EXHIBIT A
PAGE 27 OF 40
TECO FINANCE
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Revenues $ 1,318
Expenses
Operation 112
Depreciation -
112
Income from operations 1,206
Other income 2
Income before interest & income taxes 1,208
Interest expense 16,796
Income before provision for income taxes (15,588)
Provision for income taxes (6,013)
Net loss ($ 9,575)<PAGE>
EXHIBIT A
PAGE 28 OF 40
TECO FINANCE
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Balance, beginning of period ($25,707)
Add
Net income (9,575)
(35,282)
Deduct
Cash dividends on capital stock
Common -
Balance, end of period ($35,282)<PAGE>
EXHIBIT A
PAGE 29 OF 40
TECO GAS & OIL
BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 198
Property, plant and equipment, at original cost
Other property 2,404
Other assets
Other investments 1,467
$4,069 <PAGE>
EXHIBIT A
PAGE 30 OF 40
TECO GAS & OIL
BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $4,560
Accounts payable 220
Taxes accrued (275)
4,505
Common stock 1
Retained earnings (437)
$4,069 <PAGE>
EXHIBIT A
PAGE 31 OF 40
TECO GAS & OIL
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Revenues $ -
Expenses
Operation 664
Depreciation 48
Income before provision for income taxes (712)
Provision for income taxes (275)
Net income ($ 437)<PAGE>
EXHIBIT A
PAGE 32 OF 40
TECO GAS & OIL
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
Balance, beginning of period $ -
Add
Net income (437)
(437)
Deduct
Cash dividends on capital stock
Common -
Balance, end of period ($ 437)<PAGE>
<TABLE>
EXHIBIT A
PAGE 33 OF 40
TECO POWER SERVICES, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
<CAPTION>
TPS TPS Hardee
TECO Power Panama Guatemala Power
ASSETS (parent only) One One TCAE Partners
<S> <C> <C> <C> <C> <C>
Current assets
Cash and cash
equivalents $ 386 $ 1 $ 317 $ 1,587 $ 2,168
Receivables from
affiliates 38,326 - 4 - 1,229
Receivables, less
allowance for
uncollectibles 72 - 2 2,653 4,414
Inventories at average
cost
Fuel - - - - 1,332
Materials and
supplies - - - - 1,666
Prepayment 10 - 288 - 152
38,794 1 611 4,240 10,961
Investment in
subsidiaries 48,718 - 35,857 - -
Property, plant &
equipment, at
original cost
Plant in service - - - 37,786 206,562
Other property 345 - - 185 -
345 - - 37,971 206,562
Less accum. deprec. 252 - - 413 18,480
93 - - 37,558 188,082
Other assets
Deferred charges &
other assets 3,789 - 3,048 999 4,440
$ 91,394 $ 1 $ 39,516 $ 42,797 $ 203,483
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 34 OF 40
TECO POWER SERVICES, INC.
CONSOLIDATING BALANCE SHEET (Continued)
DEC. 31, 1995
(thousands of dollars)
<CAPTION>
Hardee Hardee TPS Elimin- TECO Power
ASSETS Power I Power II Operation ations (Consolidated)
<S> <C> <C> <C> <C> <C>
Current assets
Cash and cash
equivalents $ - $ - $ 1,062 $ - $ 5,521
Receivables from
affiliates 2,749 8,045 435 (49,499) 1,289
Receivables, less
allowance for
uncollectibles - - 33 - 7,174
Inventories at average
cost
Fuel - - - - 1,332
Materials and
supplies - - - - 1,666
Prepayments - - (1) - 449
2,749 8,045 1,529 (49,499) 17,431
Investment in
subsidiaries 10,911(1) 32,936 - (128,422) -
Property, plant &
equipment, at
original cost
Plant in service - - - - 244,348
Other property - - - - 530
- - - - 244,878
Less accum. deprec. - - - - 19,145
- - - - 225,733
Other assets
Deferred charges &
other assets - - - - 12,276
$ 13,660 $40,981 $ 1,529 $(177,921) $ 255,440
(1)Investment in subsidiaries represent Hardee Power I s general partnership interest in Hardee
Power Partners. The subsidiary is not consolidated at the Hardee Power I level. The financial
statements of Hardee Power Partners are shown in full on pages 33 through 40.
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 35 OF 40
TECO POWER SERVICES, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1995
(thousands of dollars)
<CAPTION>
TPS TPS Hardee
LIABILITIES AND TECO Power Panama Guatemala Power
CAPITAL (parent only) One One TCAE Partners
<S> <C> <C> <C> <C> <C>
Current Liabilities
Long-term debt due
within one year $ - $ - $ - $ - $ 4,709
Notes payable - - - - 2,400
Accounts payable to
affiliates 34,963 - 37,173 33,037 1,865
Accounts payable 840 - 6 6,091 655
Interest accrued - - - - 1,005
Taxes accrued 820 - 775 73 -
36,623 - 37,954 39,201 10,634
Deferred income taxes (447) - - 615 -
Other deferred credits 2 - - 157 527
Long-term debt, less
amount due within one
year - - - - 148,475
Partners capital - HPI - - - - 10,972
Subordinated debt - HPI - - - - 1
Partners capital - HPII - - - - 32,916
Subordinated debt - HPII - - - - 3
Partners capital - TPS
Guatemala One - - - 76 -
Common stock 52,341 1 1 - -
Retained earnings 2,875 - 1,561 2,748 (45)
$ 91,394 $ - $39,516 $42,797 $203,483
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 36 OF 40
TECO POWER SERVICES, INC.
CONSOLIDATING BALANCE SHEET (Continued)
DEC. 31, 1995
(thousands of dollars)
<CAPTION>
LIABILITIES AND Hardee Hardee TPS Elimin- TECO Power
CAPITAL Power I Power II Operation ations (Consolidated)
<S> <C> <C> <C> <C> <C>
Current Liabilities
Long-term debt due
within one year $ - $ - $ - $ - $ 4,709
Notes payable - - - - 2,400
Accounts payable to
affiliates - - 1,030 (82,532) 25,536
Accounts payable - - 530 - 8,122
Interest accrued - - - - 1,005
Taxes accrued (12) (34) (32) - 1,590
(12) (34) 1,528 (82,532) 43,362
Deferred income taxes 1,883 5,650 - - 7,701
Other deferred credits - - - - 686
Long-term debt, less
amount due within one
year - - - - 148,475
Partners capital - HPI - - - (10,972) -
Subordinated debt - HPI - - - (1) -
Partners capital - HPII - - - (32,916) -
Subordinated debt - HPII - - - (3) -
Partners capital - TPS
Guatemala One - - - (76) -
Common stock 10,973 32,919 1 (43,895) 52,341
Retained earnings 816 2,446 - (7,526) 2,875
$ 13,660 $40,981 $ 1,529 $(177,921) $255,440
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 37 OF 40
TECO POWER SERVICES, INC.
CONSOLIDATING INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
<CAPTION>
TPS TPS Hardee
TECO Power Panama Guatemala Power
(parent only) One One TCAE Partners
<S> <C> <C> <C> <C> <C>
Revenues $ - $ - $2,748 $ 4,414 $ 71,036
Expenses
Operation 2,222 - 421 546 2,808
Maintenance - - - - 2,509
Fuel - - - - 15,541
Depreciation 43 - 22 441 6,297
BB4 - pass through - - - - 17,592
Taxes other than income - - - - 3,407
2,265 - 443 987 48,154
Income from operations (2,265) - 2,305 3,427 22,882
Other income 103 - - 9 204
Income before interest &
income taxes (2,162) - 2,305 3,436 23,086
Interest charges
Long-term debt - - - - 12,292
Other interest expense - - - - 75
- - - - 12,367
Income before provision
for income taxes (2,162) - 2,305 3,436 10,719
Provision for income
taxes (830) - 744 688 -
Net income $ (1,332) $ - $1,561 $ 2,748 $ 10,719
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 38 OF 40
TECO POWER SERVICES, INC.
CONSOLIDATING INCOME STATEMENT (Continued)
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
<CAPTION>
Hardee Hardee TPS Elimin- TECO Power
Power I Power II Operation ations (Consolidated)
<S> <C> <C> <C> <C> <C>
Revenues $ 2,680 $ 8,039 $ - $(13,467) $ 75,450
Expenses
Operation - - - - 5,997
Maintenance - - - - 2,509
Fuel - - - - 15,541
Depreciation - - - - 6,803
BB4 - pass through - - - - 17,592
Taxes other than income - - - - 3,407
- - - - 51,849
Income from operations 2,680 8,039 - (13,467) 23,601
Other income - - - - 316
Income before interest &
income taxes 2,680 8,039 - (13,467) 23,917
Interest charges
Long-term debt - - - - 12,292
Other interest expense - - - - 75
- - - - 12,367
Income before provision
for income taxes 2,680 8,039 - (13,467) 11,550
Provision for income
taxes 1,034 3,102 - - 4,738
Net income $ 1,646 $ 4,937 $ - $(13,467) $ 6,812
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 39 OF 40
TECO POWER SERVICES, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
<CAPTION>
TPS TPS Hardee
TECO Power Panama Guatemala Power
(parent only) One One TCAE Partners
<S> <C> <C> <C> <C> <C>
Balance, beginning
of period $ 1,219 $ - $ - $ - $ 6,503
Add: Net income 6,813(1) - 1,561 2,748 10,719
8,032 - 1,561 2,748 17,222
Deduct: dividends on
Common stock 5,157 - - - 17,267
Balance, end of -
period $ 2,875 $ - $1,561 $ 2,748 $ (45)
(1)Includes $8,145 of TECO Power Service s equity in earnings of subsidiaries.
</TABLE>
<PAGE>
<TABLE>
EXHIBIT A
PAGE 40 OF 40
TECO POWER SERVICES, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS (Continued)
TWELVE MONTHS ENDED DEC. 31, 1995
(thousands of dollars)
<CAPTION>
Hardee Hardee TPS Elimin- TECO Power
Power I Power II Operation ations (Consolidated)
<S> <C> <C> <C> <C> <C>
Balance, beginning
of period $ 810 $ 2,431 $ - $(9,744) $ 1,219
Add: Net income 1,646 4,937 - (21,612) 6,812
2,456 7,368 - (31,356) 8,031
Deduct: dividends on
capital stock
Common 1,640 4,922 - (23,830) 5,156
Balance, end of -
period $ 816 $ 2,446 $ - $ (7,526) $2,875
</TABLE>
<PAGE>
EXHIBIT B
PAGE 1 OF 1
FINANCIAL DATA SCHEDULE
A financial data schedule was filed as EX-27; part of the electronic filing
made with the Securities and Exchange Commission via EDGAR.<PAGE>
EXHIBIT C
PAGE 1 OF 1
ABBREVIATED ORGANIZATIONAL CHART
SHOWING THE RELATIONSHIP BETWEEN EACH EWG
OR FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES
IN THE HOLDING-COMPANY SYSTEM
TECO Energy
TECO Power
TPS Guatemala One
TCAE
At Dec. 31, 1995:
TECO Energy had a 100-percent ownership interest in
TECO Power.
TECO Power had a 100-percent ownership interest in
TPS Guatemala One.
TPS Guatemala One had an 87.5-percent ownership
interest in TCAE.<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TECO ENERGY, INC. CONSOLIDATING BALANCE SHEET, CONSOLIDATING STATEMENT OF
INCOME AND CONSOLIDATING STATEMENT OF RETAINED EARNINGS AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000350563
<NAME> TECO Energy, Inc.
<MULTIPLIER> 1000
<S> <C>
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-1-1995
<PERIOD-END> DEC-31-1995
<PERIOD-TYPE> YEAR
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 3,473,367
<TOTAL-OPERATING-REVENUES> 1,392,285
<NET-INCOME> 186,127
</TABLE>
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