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, 68
subsidiaries, including Tampa Electric Company, a public utility
company for purposes of the Act. 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, Premier Elkhorn Coal Company,
Bear Branch Coal Company and Raven Rock Development Corporation,
which are Kentucky corporations; Rich Mountain Coal Company, which
is a Tennessee corporation; TECO Coalbed Methane, Inc., which is
an Alabama corporation; and those noted in the following
paragraph.
Claimant, TECO Power Services Corporation ("TECO Power"), is a
corporation organized on May 26, 1987 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 Power owns no
operating assets, but does own directly or indirectly the common
stock of, or a partnership interest in, 22 subsidiary companies.
Nine of the subsidiaries, including TPS Guatemala One, Inc., are
organized under the laws of Florida. Triangle Finance Company, LLC
(formerly known as San Jose Finance Company LLC), a limited
liability company, is organized under the laws of Delaware. Tampa
Centro Americana de Electricidad, Limitada (TCAE), an exempt
wholesale generator (EWG), of which TPS Guatemala One, Inc. owns a
98.15-percent partnership interest, TPS Operaciones de Guatemala,
Limitada, Central Generadora Electrica San Jose, SRL and
Generadora Electrica Centroamericana, Limitada are organized under
the laws of Guatemala. TPS International Power, Inc., Tasajero I,
LDC, TPS San Jose International, Inc., TPS San Jose, LDC, San Jose
Power Holding Company, Ltd., TECO Transport International, Inc.,
TPS Escuintla I, LDC and TPS Pavana, Ltd. are all organized under
the laws of the Cayman Islands. TPS San Jose, LDC owns a 46
percent partnership interest in San Jose Power Holding Company,
Ltd. San Jose Power Holding Company, Ltd. owns a 92 percent
partnership interest in Central Generadora Electrica San Jose, SRL
which is organized under the laws of Guatemala. TECO Power is a
direct wholly owned subsidiary of TECO Energy.
C l aimant, 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
2<PAGE>
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.
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 other 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(1) Florida. Through its electric
(Tampa Electric) division, operates as an
TECO Plaza electric utility serving West
702 North Franklin Street Central Florida. Through its
Tampa, FL 33602 Peoples Gas System division,
operates as a local natural gas
distribution company. Peoples
Gas System was formerly
wholly owned by Lykes Energy,
Inc. which merged with TECO
Energy in June 1997.
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
3<PAGE>
Name and address Location and nature of business
Power Engineering & Florida. Engaged in the
Construction, Inc. engineering and construction of
(PEC) transmission and distribution
TECO Plaza facilities outside of Tampa
702 N. Franklin Street Electric s retail service
Tampa, FL 33602 territory.
TECO Investments, Inc.(1) Florida. Invests capital
(TECO Investments) in short- and long-term
TECO Plaza financial investments.
702 North Franklin Street
Tampa, FL 33602
Bosek, Gibson and Associates, Florida and California.
Inc.(1) Energy services company which
(BGA) performs engineering analysis,
TECO Plaza design and construction
702 North Franklin Street management.
Tampa, FL 33602
BGA Special Project One, Inc. Florida. Limited partner of
(Special Project One) TECO/BGA Inc.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
TECO/BGA, Inc. Florida. General partner of
(TECO/BGA) TECO/BGA Limited.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
TECO/BGA Limited Florida. Limited partnership
(TECO/BGA Limited) involved in engineering
TECO Plaza services.
702 North Franklin Street
Tampa, FL 33602
TeCom Inc.(1) Florida. Markets advanced
(TeCom) energy management and
TECO Plaza communications systems.
702 North Franklin Street
Tampa, FL 33602
TECO Finance, Inc.(1) F l orida. Provides financing
(TECO Finance) primarily for the diversified
TECO Plaza activities of TECO Energy.
702 North Franklin Street
Tampa, FL 33602
4<PAGE>
Name and address Location and nature of business
TECO Oil & Gas, Inc.(1) (4) Texas and the Gulf of Mexico.
(formerly named TECO Gas & Participated in the exploration
Oil, Inc.) and production of oil and gas
TECO Plaza in the Gulf of Mexico and
702 North Franklin Street Texas.
Tampa, FL 33602
TECO Diversified, Inc.(1) Florida. Holding company.
(TECO Diversified)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
TECO Coal Corporation Kentucky. Holding company.
(TECO Coal)
P. O. Box 39
Nevisdale, KY 40754
Bear Branch Coal Company Kentucky. Coal mining.
(Bear Branch)
P.O. Box 39
Nevisdale, KY 40354
Raven Rock Development Kentucky. Real estate
Corporation development investment.
(Raven Rock)
P.O. Box 39
Nevisdale, KY 40354
Clintwood Elkhorn Mining Kentucky. Coal mining.
Company
(Clintwood)
P. O. Box 39
Nevisdale, KY 40754
Gatliff Coal Company Kentucky and Tennessee. Coal
(Gatliff) mining and processing.
P. O. Box 39
Nevisdale, KY 40754
Pike-Letcher Land Company Kentucky. Land management.
(Pike-Letcher)
P. O. Box 39
Nevisdale, KY 40754
Premier Elkhorn Coal Company Kentucky. Coal mining and
(Premier Elkhorn) processing.
P. O. Box 39
Nevisdale, KY 40754
5<PAGE>
Name and address Location and nature of business
Rich Mountain Coal Company Tennessee. Coal mining.
(Rich Mountain)
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 Properties Corporation Florida. Real estate
(TECO Properties) investment.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
CPSC, Inc. Florida. General partner
(CPSC) of City Plaza Partners,
TECO Plaza a limited partnership involved
702 N. Franklin Street in real estate investment.
Tampa, FL 33602
City Plaza Partners, Ltd. Florida. Limited partnership
(City Plaza Partners) involved in real estate
TECO Plaza investment.
702 N. Franklin Street
Tampa, FL 33602
30th Street R&D Park, Inc. Florida. Real estate
(30th Street R&D) investment.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
University Tech Center I, Florida. Limited partnership
Ltd. involved in real estate
(UTC I) investment.
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
6<PAGE>
Name and address Location and nature of business
Brandon Properties Partners, Florida. Limited partnership
Ltd. involved in real estate.
(Brandon Properties) investment.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
Southshore Residential, Inc. Florida. Limited partner of
(Southshore Residential) South Shore Properties
TECO Plaza Partners, Ltd.
702 North Franklin Street
Tampa, FL 33602
South Shore Properties Florida. Limited partnership
Partners, Ltd. involved in real estate
TECO Plaza investment.
702 North Franklin Street
Tampa, FL 33602
TECO Transport Corporation Florida. Holding company.
(TECO Transport)
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
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 vessels 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 vessels to various
702 N. Franklin Street domestic and international
Tampa, FL 33602 destinations.
Mid-South Towing Company Mississippi, Ohio and Illinois
(Mid-South) rivers. Transports coal
TECO Plaza and other bulk commodities
702 North Franklin Street in river barges.
Tampa, FL 33602
7<PAGE>
Name and address Location and nature of business
TECO Towing Company Mississippi, Ohio and Illinois
(TECO Towing) rivers. Charters river barges
TECO Plaza and purchases fuel for
702 North Franklin Street subsequent resale to affiliated
Tampa, FL 33602 companies.
Peoples Gas Company(1) Florida. Liquefied petroleum
(Peoples Gas) gas retail sales. Formerly
TECO Plaza wholly owned by Lykes Energy,
702 North Franklin Street Inc. which merged with TECO
Tampa, FL 33602 Energy in June 1997.
Peoples Sales & Service Company(1) Florida. Appliance sales and
(Peoples Sales & Service) repair service. Formerly
TECO Plaza wholly owned by Lykes Energy,
702 North Franklin Street Inc. which merged with TECO
Tampa, FL 33602 Energy in June 1997.
Peoples Cogeneration Company(1) Florida. Holding company.
(Peoples Cogeneration) Formerly wholly owned by Lykes
TECO Plaza Energy, Inc. which merged with
702 North Franklin Street TECO Energy in June 1997.
Tampa, FL 33602
PAS Power Co. Florida. Holds an interest
(Pas Power) in Pasco Cogen Ltd., a QF
TECO Plaza located in Florida.
702 North Franklin Street
Tampa, FL 33602
Suwannee Gas Marketing, Inc.(1) Florida. Holding company.
(Suwannee Gas) Formerly wholly owned by Lykes
TECO Plaza Energy, Inc. which merged with
702 North Franklin Street TECO Energy in June 1997.
Tampa, FL 33602
TECO Gas Services, Inc. Florida. Buys and sells natural
(formerly known as Gator Gas gas supplies. Does not own or
Marketing, Inc.) operate any facilities for the
(Gator Gas) distribution of natural or
TECO Plaza manufactured gas at retail.
702 North Franklin Street
Tampa, FL 33602
Florida Natural Fuels, Ltd. Florida. Limited partnership.
(Florida Natural Fuels) Sells compressed natural gas
TECO Plaza as motor fuel.
702 North Franklin Street
Tampa, FL 33602
8<PAGE>
Name and address Location and nature of business
Seminole Gas Marketing Florida. General partnership
(Seminole Gas) which markets natural gas to
P.O. Box 2563 end-users. Does not own or
1900 5th Avenue North operate any facilities for the
Birmingham, AL 35202 distribution of natural or
manufactured gas at retail.
Peoples Gas System(Florida), Inc. Florida. Name-holding company
TECO Plaza with no operations.
702 North Franklin Street
Tampa, FL 33602
TECO Power Services Corporation(1) Florida. Holding company.(2)
(TECO Power)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Hardee Power I, Inc. Florida. General partner
(Hardee Power I) of Hardee Power Partners. (2)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
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. (2)
TPS Panama One, Inc. Florida. Subsidiary formed for
(TPS Panama One) the purpose of developing a
TECO Plaza wholesale power generation
702 North Franklin Street 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.(3)
Tampa, FL 33602
9<PAGE>
Name and address Location and nature of business
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 developing a
TECO Plaza wholesale power generation
702 North Franklin Street project.
Tampa, FL 33602
Lake County Power Resources, Florida. Subsidiary formed for
Inc. the purpose of developing a
(Lake County Power) wholesale power generation
TECO Plaza project.
702 North Franklin Street
Tampa, FL 33602
TECO EnergySource, Inc. Florida. Subsidiary formed for
(TECO EnergySource) the purpose of marketing and
TECO Plaza selling energy.
702 North Franklin Street
Tampa, FL 33602
TPS International Power, Inc. Cayman Islands. Subsidiary
(TPS International Power) formed for the purpose of
P.O. Box 866 developing wholesale power
Anderson Square Building generation projects.
3rd Floor
George Town, Grand Cayman,
Cayman Islands, B.W.I.
TPS San Jose International, Cayman Islands. Subsidiary
Inc. formed for the purpose of
(TPS San Jose International) developing wholesale power
P.O. Box 866 generation projects.
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
TPS San Jose, LDC Cayman Islands. Developer and
(TPS San Jose) joint venture partner in a
P.O. Box 866 wholesale power generation
Anderson Square Building project not yet in
3rd Floor operation.
George Town, Grand Cayman
Cayman Islands, B.W.I.
10<PAGE>
Name and address Location and nature of business
Triangle Finance Delaware. Subsidiary formed
Company, LLC for the purpose of borrowing
(Triangle) and lending funds for CGESJ
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
San Jose Power Holding Cayman Islands. Holding company
Company, Ltd. formed to develop a wholesale
(San Jose Power Holding power generation project not
Company) yet in operation.
P.O. Box 1111GT
George Town, Grand Cayman
Cayman Islands, B.W.I.
Central Generadora Guatemala. Limitada corporation
Electrica formed to develop a wholesale
San Jose, SRL (CGESJ) power generation project not
13 Calle 3-40, Zona 10 yet in operation. Construction
Edifico Atlantis, of this project is expected to
Oficina 503, 5t . Nivel be completed in 2000.
Guatemala City,
Guatemala C.A.
Generadora Electrica Guatemala. Limited corporation
Centroamerica, Limited formed to develop a wholesale
(GEC) power generation project not
13 Calle 3-40, Zona 10 in operation.
Edifico Atlantis
Oficiana 503, 5t . Nivel
Guatemala City,
Guatemala, C.A.
TPS Operaciones de Guatemala. Limited corporation
Guatemala, Ltda. (OPSG) formed for the purpose of
13 Calle 3-40, zona 10 operating and managing the
Edifico Atlantis CGESJ power plant.
Oficina 503, 5t . Nivel
Guatemala City,
Guatemala, C.A.
Tasajero I, LDC Cayman Islands. Subsidiary
(Tasajero I) formed for the purpose of
P.O. Box 866 developing a wholesale power
Anderson Square Building generation project not yet in
3rd Floor operation.
George Town, Grand Cayman
Cayman Islands, B.W.I.
11<PAGE>
TECO Transport International, Cayman Islands. Not yet in
Inc. (Transport) operation.
P.O. Box 866
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
TPS Escuintla I, LDC Cayman Islands. Not yet in
(Escuintla I) operation.
P.O. Box 866
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
TPS Pavana, Ltd. (Pavana) Cayman Islands. Not yet in
P.O. Box 866 operation.
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
Pasco Power GP, Inc. Florida. Holds an indirect
TECO Plaza interest in Pasco Cogen, Ltd.,
702 North Franklin Street a QF in Florida.
Tampa, FL 33602
(1) Direct subsidiary of TECO Energy, Inc.
(2) Hardee Power I, as the general partner of Hardee Power Partners;
TECO Power, 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 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.
(3) TPS Guatemala One holds a 98.15-percent ownership interest in
TCAE at Dec. 31, 1997.
(4) In January 1998, TECO Oil & Gas entered into an agreement for
the sale of its offshore Gulf of Mexico assets; closing is
scheduled for the first quarter 1998, subject to the buyer s due
diligence. TECO Energy expects to report a pretax gain in the
first quarter of 1998 reflecting this transaction. TECO Oil &
Gas will then focus on the sale of its onshore properties.
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 for 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
12<PAGE>
plants, and electric and gas distribution facilities, including
all such properties which are outside the State in which the
c l a i m ants 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, Peoples Gas System
division and Hardee Power Partners:
Tampa Electric
Tampa Electric had five electric generating plants and four
combustion turbine units in service with a total net generating
capability at Dec. 31, 1997 of 3,600 megawatts (MW) including Big
Bend (1,742-MW capability for four coal units), Gannon (1,180-MW
capability for six coal units), Hookers Point (200-MW capability
for five oil units), Phillips (34-MW capability for two diesel
units), Polk (250-MW capability from integrated gasification
combined cycle (IGCC) unit) and four combustion turbine units
located at the Big Bend and Gannon stations (194 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. The Polk IGCC unit began
commercial operation in September 1996. 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 182 substations having an aggregate
transformer capacity of 16,326,356 KVA. The transmission system
consists of approximately 1,198 pole miles of high voltage
transmission lines, and the distribution system consists of 6,894
pole miles of overhead lines and 2,625 trench miles of underground
lines. As of Dec. 31, 1997, there were 525,236 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 rights-of-way for the
13<PAGE>
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.
Tampa Electric, through its Peoples Gas division, owns 6,892 miles
of distribution mains, plus service lines, meters, regulators, and
other related equipment used in serving natural gas to
approximately 238,000 residential, commercial and industrial
customers located wholly within the State of Florida.
The natural gas distribution properties are located primarily in
the metropolitan areas of Jacksonville, Daytona Beach, Orlando,
Eustis, Avon Park, Lakeland, Tampa, St. Petersburg, Sarasota, Palm
Beach Gardens, Pompano Beach, Fort Lauderdale, Hollywood, North
Miami, Miami Beach, Miami, Panama City and Ocala, Florida.
Hardee Power Partners
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 actual
operating conditions. Hardee Power Partners owns no transmission
or distribution facilities.
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 - Electricity: 18,250,282,000 KWH
Natural Gas:
29,259,000 Mcf (Sales)
60,724,000 Mcf(Transportation)
TECO Power - None
Hardee Power I - None
14<PAGE>
Hardee Power Partners - 452,394,000 KWH
(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 - 600,000 KWH
Peoples Gas - None
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
(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 - None
TECO Power - None
Hardee Power I - None
Hardee Power Partners - 4,480,183 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.
15<PAGE>
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
L M 6000 turbines operated in simple cycle. Also
includes a 230KV switchyard with two 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, 1997:
TECO Power had a 100-percent ownership interest in TPS
Guatemala One.
TPS Guatemala One had a 96.06-percent ownership interest
in TCAE.
TCAE had a 100-percent ownership interest in the Alborada
Power Station.
(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, 1997:
TECO Power had advanced to TPS Guatemala One - $22,666,262
TPS Guatemala One had contributed equity to TCAE - $1,144,247.
There are no other guarantees or loans between system
companies and TPS 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, 1997 was $2,741,674.
16<PAGE>
Total earnings of TCAE for the year ended Dec. 31, 1997 were
$4,464,907. TPS Guatemala One s portion of the earnings of
TCAE for the year ended Dec. 31, 1997 was $4,326,639.
(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 balance sheets and
statements of income and retained earnings for the twelve months ended
Dec. 31, 1997 of TECO Energy, TECO Power, and Hardee Power I, and
their subsidiaries.
Exhibit B, Financial Data Schedule, was included in the filing made
electronically with the Securities and Exchange Commission of this
document via EDGAR as Exhibit 27 (Ex-27).
Attached hereto as Exhibit C is an organizational chart showing the
relationship of TECO Energy, TECO Power, TPS Guatemala One and TCAE.
17<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 27th day of February, 1998.
(CORPORATE SEAL) TECO ENERGY, INC.
Attest: BY: /s/ W. L. Griffin
W.L. Griffin
Vice President-Controller
R. H. Kessel, Secretary
(CORPORATE SEAL) TECO POWER SERVICES CORPORATION
Attest: BY: /s/ L. A. Miller
L. A. Miller
Vice President-Project Finance
R. H. Kessel, Secretary
(CORPORATE SEAL) HARDEE POWER I, INC.
Attest: BY: /s/ L. A. Miller
L. A. Miller
Vice President
R. H. Kessel, Secretary
Name, 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
18<PAGE>
<TABLE>
Exhibit A
Page 1 of 49
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
<CAPTION>
Tampa TECO
Electric Diversified TECO Energy - TECO Energy, Inc.
ASSETS Company Companies (1)Parent/Other(2) Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash equivalents $ 2,825 $ 6,640 $ 957 $ 150 $ - $ 10,572
Short-term investments - 6 - - - 6
Receivables, less
allowance for
uncollectibles 161,367 202,937 159,463 215,209 (516,249) 222,727
Inventories, at average
cost
Fuel 69,470 11,345 - - - 80,815
Materials and supplies 45,609 17,471 - - - 63,080
Prepayments 7,322 4,143 6 1,413 - 12,884
286,593 242,542 160,426 216,772 (516,249) 390,084
Investment in subsidiaries - - 1,733,671 - (1,733,671) -
Property, plant & equipment,
at original cost
Utility plant in svc-ele 3,631,975 248,645 - - - 3,880,620
Utility Plant in svc-gas 471,100 - - - - 471,100
Construction work in
progress 40,636 16,398 - - - 57,034
Other property 6,486 921,593 21,918 - 802 950,799
4,150,197 1,186,636 21,918 - 802 5,359,553
Less accum. deprec. (1,595,323) (525,297) (2,399) - - (2,123,019)
2,554,874 661,339 19,519 - 802 3,236,534
Other assets
Other investments - 83,037 5,298 - - 88,335
Deferred income taxes 112,208 5,590 - - (29,742) 88,056
Deferred charges &
other assets 145,210 58,334 (4,260) - (41,857) 157,427
257,418 146,961 1,038 - (71,599) 333,818
$3,098,885 $1,050,842 $1,914,654 $216,772 ($2,320,717) $3,960,436
1 Diversified companies comprise TECO Investments, TECO Diversified consolidated,TeCom,
TECO Power consolidated, BGA, Peoples Gas Company, Peoples Sales & Service and Gator Gas.
2 Includes TECO Energy Parent and certain non-operating subsidiaries.
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 2 of 49
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
<CAPTION>
Tampa TECO
Electric Diversified TECO Energy - TECO Energy, Inc.
LIABILITIES AND CAPITAL Company Companies (1)Parent/Other(2) Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current liabilities
Long-term debt due
within one year $ 4,160 $ 8,534 $ - $ - $ - $ 12,694
Notes payable 219,100 162 112,507 228,400 (112,669) 447,500
Accounts payable 118,376 77,194 352,514 13,878 (403,310) 158,652
Customer deposits 77,337 578 - - - 77,915
Interest accrued 18,696 1,726 954 471 - 21,847
Taxes accrued 8,460 9,649 (3,456) (990) 311 13,974
446,129 97,843 462,519 241,759 (515,668) 732,582
Deferred income taxes 415,556 133,286 (48,226) - (29,742) 470,874
Investment tax credit 49,697 2,000 - - - 51,697
Regulatory liability -
tax related 76,957 - - - (41,857) 35,100
Other deferred credits 121,759 19,502 4,015 - - 145,276
Long-term debt, less
amount due within one year 727,037 273,134 50,000 30,000 - 1,080,171
Preferred stock of
Tampa Electric - - - - - -
Common stock 972,125 457,685 487,712 100 (1,429,970) 487,652
Retained earnings 289,625 67,392 1,026,139 (55,087) (303,480) 1,024,589
Unearned compensation
related to ESOP - - (67,505) - - (67,505)
$3,098,885 $1,050,842 $1,914,654 $216,772 ($2,320,717) $3,960,436
1 Diversified companies comprise TECO Investments, TECO Diversified consolidated,TeCom,
TECO Power consolidated, BGA, Peoples Gas Company, Peoples Sales & Service and Gator Gas.
2 Includes TECO Energy Parent and certain non-operating subsidiaries.
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 3 of 49
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
<CAPTION>
Tampa TECO
Electric Diversified TECO Energy - TECO Energy, Inc.
Company Companies (1)Parent/Other(3) Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Revenues $1,438,749 $632,492 $ 86 $ 1,652 $(210,709) $1,862,270
Expenses
Operation 776,370 411,816 5,163 1,746 (228,490) 966,605
Maintenance 83,404 30,791 - - - 114,195
Depreciation 161,240 64,129 2 - 44 225,415
Taxes-other than income 112,606 30,848 4 - - 143,458
Taxes-fed. & state income 87,479 (20,193) - - (67,286) -
1,221,099 517,391 5,169 1,746 (295,732) 1,449,673
Income from operations 217,650 115,101(2) (5,083) (94) 85,023 412,597
Other income (expense)
Allowance for other funds
used during construction 116 - - - - 116
Other income (expense), net (2,677) 308 10,677 - (8,625) (317)
Preferred dividend req.
of Tampa Electric - - - - (477) (477)
(2,561) 308 10,677 - (9,102) (678)
Income before interest &
income taxes 215,089 115,409 5,594 (94) 75,921 411,919
Interest charges
Interest expense 66,494 4,652 7,629 16,090 11,007 105,872
Allowance for borrowed
funds used during
construction (45) - - - - (45)
66,449 4,652 7,629 16,090 11,007 105,827
Income before provision
for income taxes 148,640 110,757 (2,035) (16,184) 64,914 306,092
Provision for income taxes - 30,781 4,697 (6,243) 65,418 94,653
148,640 79,976 (6,732) (9,941) (504) 211,439
Preferred stock
dividend req. (477) - - - 477 -
Net loss from discontinued
operations, net of tax - - (6,472) - - (6,472)
Loss on disposal of
discontinued operations,
net of tax - - (3,043) - - (3,043)
Net Income $ 148,163 $ 79,976 $(16,247) $( 9,941) $ (27) $ 201,924
</TABLE>
<PAGE>
Exhibit A
Page 4 of 49
1 Diversified companies comprise TECO Investments, TECO Diversified
consolidated, TeCom,TECO Power consolidated, BGA, Peoples Gas Company,
Peoples Sales & Service and Gator Gas.
2 Operating income includes items which are reclassified for consolidated
financial statement purposes. The principal item is the non-conventional
fuels tax credit related to coalbed methane production.
3 Includes TECO Energy Parent and certain non-operating subsidiaries.<PAGE>
<TABLE>
Exhibit A
Page 5 of 49
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
<CAPTION>
Tampa TECO
Electric Diversified TECO Energy - TECO Energy, Inc.
Company Companies (1)Parent/Other(3)Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning of
period $285,768 $ 61,560 $ 959,836 $(45,146) $ (299,903) $ 962,115
Add
West Florida Gas Inc. merger 2,279 3,123 5,716 - (5,402) 5,716
Net income 148,640 79,976 205,800(2) (9,941) (222,551) 201,924
Tax benefits - ESOP
dividends - - 2,118 - - 2,118
436,687 144,659 1,173,470 (55,087) (527,856) 1,171,873
Deduct
Cash dividends on
capital stock
Preferred 589 - - - (589) -
Common 145,932 77,267 147,284 - (223,199) 147,284
Other - Adjustment 541 - 47 - (588) -
Balance, end of period $289,625 $ 67,392 $1,026,139 $(55,087) $(303,480) $1,024,589
1 Diversified companies comprise TECO Investments, TECO Diversified consolidated,TeCom,
TECO Power consolidated, BGA, Peoples Gas Company, Peoples Sales & Service and Gator Gas.
2 Includes $204,802 of TECO Energy's equity in earnings of subsidiaries.
3 Includes TECO Energy Parent and certain non-operating subsidiaries.
</TABLE>
<PAGE>
Exhibit A
Page 6 of 49
TECO TRANSPORT & TRADE CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 204
Receivables, less allowance for uncollectibles 89,167
Inventories, at average cost
Materials and supplies 10,432
Prepayments 821
100,624
Property, plant and equipment, at original cost
Construction work in progress 14,819
Other property 456,917
471,736
Less accumulated depreciation 306,656
165,080
Other assets
Deferred income taxes 359
Deferred charges & other assets 700
1,059
$266,763 <PAGE>
Exhibit A
Page 7 of 49
TECO TRANSPORT & TRADE CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 25,228
Interest accrued 678
Taxes accrued (2,034)
23,872
Deferred income taxes 20,058
Investment tax credit 2,000
Other deferred credits 11,716
Long-term debt, less amount due within one year 110,600
Common stock 52,133
Retained earnings 46,384
$266,763 <PAGE>
Exhibit A
Page 8 of 49
TECO TRANSPORT & TRADE CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $218,699
Expenses
Operation 126,301
Maintenance 16,688
Depreciation 27,280
Taxes-other than income 6,349
176,618
Income from operations 42,081
Other income 191
Income before interest & income taxes 42,272
Interest expense 4,172
Income before provision for income taxes 38,100
Provision for income taxes 13,588
Net income $ 24,512 <PAGE>
Exhibit A
Page 9 of 49
TECO TRANSPORT & TRADE CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period $44,354
Add
Net income 24,512
68,866
Deduct
Cash dividends on capital stock
Common 22,482
Balance, end of period $46,384 <PAGE>
Exhibit A
Page 10 of 49
TECO COAL CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ -
Short-term investments 6
Receivables, less allowance for uncollectibles 34,544
Inventories, at average cost
Fuel 10,319
Materials and supplies 1,785
Prepayments 2,272
48,926
Property, plant and equipment, at original cost
Construction work in progress 1,579
Other property 198,158
199,737
Less accumulated depreciation 79,478
120,259
Other assets
Deferred income taxes 3,743
Deferred charges & other assets 18,478
22,221
$191,406 <PAGE>
Exhibit A
Page 11 of 49
TECO COAL CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 19,798
Taxes accrued 1,484
21,282
Deferred income taxes 3,399
Other deferred credits 2,178
Common stock 148,677
Retained earnings 15,870
$191,406 <PAGE>
Exhibit A
Page 12 of 49
TECO COAL CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $215,605
Expenses
Operation 156,828
Maintenance 9,917
Depreciation 11,602
Taxes-other than income 17,393
195,740
Income from operations 19,865
Other income 5
Income before interest & income taxes 19,870
Interest expense 8
Income before provision for income taxes 19,862
Provision for income taxes 4,968
Net income $ 14,894 <PAGE>
Exhibit A
Page 13 of 49
TECO COAL CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period $17,837
Add
Net income 14,894
32,731
Deduct
Cash dividends on capital stock
Common 16,861
Balance, end of period $15,870 <PAGE>
Exhibit A
Page 14 of 49
TECO PROPERTIES CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 380
Receivables, less allowance for uncollectibles 14,326
Prepayments 14
14,720
Property, plant and equipment, at original cost
Other property 14,583
Less accumulated depreciation 670
13,913
Other assets
Other investments 16,222
Deferred income taxes 1,147
Deferred charges & other assets 7,717
25,086
$53,719 <PAGE>
Exhibit A
Page 15 of 49
TECO PROPERTIES CORPORATION
CONSOLIDATED BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ 162
Accounts payable 29
Taxes accrued 375
566
Deferred income taxes 1,438
Common stock 49,985
Retained earnings 1,730
$53,719 <PAGE>
Exhibit A
Page 16 of 49
TECO PROPERTIES CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $5,090
Expenses
Operation 877
Maintenance 134
Depreciation 411
Taxes-other than income 211
1,633
Income from operations 3,457
Other income (64)
Income before provision for income taxes 3,393
Provision for income taxes 1,360
Net income $2,033 <PAGE>
Exhibit A
Page 17 of 49
TECO PROPERTIES CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period $ 710
Add
Net income 2,033
2,743
Deduct
Cash dividends on capital stock
Common 1,013
Balance, end of period $1,730 <PAGE>
Exhibit A
Page 18 of 49
TECO COALBED METHANE, INC.
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 77
Receivables, less allowance for uncollectibles 5,801
5,878
Property, plant and equipment, at original cost
Other property 209,069
Less accumulated depreciation 91,350
117,719
$123,597 <PAGE>
Exhibit A
Page 19 of 49
TECO COALBED METHANE, INC.
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 592
Notes payable 79,283
Accounts payable 1,733
Taxes accrued 845
82,453
Deferred income taxes 30,052
Other deferred credits 679
Long-term debt, less amount due within one year 232
Retained earnings 10,181
$123,597 <PAGE>
Exhibit A
Page 20 of 49
TECO COALBED METHANE, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $45,231
Expenses
Operation 16,901
Depreciation 13,442
Taxes-other than income 2,541
Taxes-section 29 credits (1) (20,193)
12,691
Income from operations 32,540
Other income 31
Income before interest & income taxes 32,571
Interest expense 92
Income before provision for income taxes 32,479
Provision for income taxes 4,715
Net income $27,764
(1) Non-conventional fuels tax credit related to coalbed methane production is
reclassified for consolidated financial statement purposes in the provision
for income taxes.<PAGE>
Exhibit A
Page 21 of 49
TECO COALBED METHANE, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period $ 9,490
Add
Net income 27,764
37,254
Deduct
Cash dividends on capital stock
Common 27,073
Balance, end of period $10,181 <PAGE>
Exhibit A
Page 22 of 49
TECO INVESTMENTS, INC.
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 121
Receivables, less allowance for uncollectibles 5,207
5,328
Other assets
Other investments 61,002
$66,330<PAGE>
Exhibit A
Page 23 of 49
TECO INVESTMENTS, INC.
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 142
Taxes accrued 194
336
Deferred income taxes 60,089
Common stock 5,169
Retained earnings 736
$66,330 <PAGE>
Exhibit A
Page 24 of 49
TECO INVESTMENTS, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $ 283
Expenses
Operation 49
Income before provision for income taxes 234
Provision for income taxes (7)
Net income $ 241 <PAGE>
Exhibit A
Page 25 of 49
TECO INVESTMENTS, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period $ 712
Add
Net income 241
953
Deduct
Cash dividends on capital stock
Common 217
Balance, end of period $ 736 <PAGE>
Exhibit A
Page 26 of 49
TECO FINANCE, INC.
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 150
Receivables, less allowance for uncollectibles 215,209
Prepayments 1,413
$216,772 <PAGE>
Exhibit A
Page 27 of 49
TECO FINANCE, INC.
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ -
Notes payable 228,400
Accounts payable 13,878
Interest accrued 471
Taxes accrued (990)
241,759
Long-term debt, less amount due within one year 30,000
Common stock 100
Retained earnings (55,087)
$216,772 <PAGE>
Exhibit A
Page 28 of 49
TECO FINANCE, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $ 1,652
Expenses
Operation 1,746
Depreciation -
1,746
Income before interest & income taxes (94)
Interest expense 16,090
Income before provision for income taxes (16,184)
Provision for income taxes (6,243)
Net income ($ 9,941)<PAGE>
Exhibit A
Page 29 of 49
TECO FINANCE, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period ($45,146)
Add
Net income (9,941)
(55,087)
Deduct
Cash dividends on capital stock
Common -
Balance, end of period ($55,087)<PAGE>
Exhibit A
Page 30 of 49
PEOPLES GAS COMPANY
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ (529)
Receivables, less allowance for uncollectibles 2,393
Materials and supplies 745
Prepayments 87
2,696
Property, plant and equipment, at original cost
Other property 37,058
Less accum. Deprec. 11,164
25,894
Other assets
Deferred charges & other assets 10
$ 28,600 <PAGE>
Exhibit A
Page 31 of 49
PEOPLES GAS COMPANY
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ -
Accounts payable 6,391
Customer deposits 578
Taxes accrued 61
7,030
Deferred income taxes 7,278
Other 39
Common stock 5,014
Retained earnings 9,239
$ 28,600 <PAGE>
Exhibit A
Page 32 of 49
PEOPLES GAS COMPANY
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $23,848
Expenses
Cost of goods sold 11,641
Operation 7,412
Maintenance 474
Taxes other than income 650
Depreciation 2,085
22,262
Income before interest and income taxes 1,586
Interest expense 333
Income before provision for income taxes 1,253
Provision for income taxes 484
Net income $ 769 <PAGE>
Exhibit A
Page 33 of 49
PEOPLES GAS COMPANY
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period $ 8,470
Add
Net income 769
9,239
Deduct
Cash dividends on capital stock
Common -
Balance, end of period $ 9,239 <PAGE>
Exhibit A
Page 34 of 49
PEOPLES SALES AND SERVICE
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ (173)
Receivables, less allowance for uncollectibles 1,916
Materials and supplies 1,254
Prepayments 16
3,013
Property, plant and equipment, at original cost
Other property 539
Less accum. Deprec. 232
307
Other assets
Deferred charges & other assets 1,968
$ 5,288 <PAGE>
Exhibit A
Page 35 of 49
PEOPLES SALES AND SERVICE
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ -
Accounts payable 1,380
Taxes accrued 44
1,424
Deferred income taxes (4)
Other 1,458
Common stock 251
Retained earnings 2,159
$ 5,288 <PAGE>
Exhibit A
Page 36 of 49
PEOPLES SALES AND SERVICE
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $ 16,636
Expenses
Cost of product sold 4,700
Operation 13,701
Taxes other than income 3
Depreciation 113
18,517
Income from operations (1,881)
Other Income 6
Income before interest (1,875)
Interest expense 95
Income before provision for income taxes (1,970)
Provision for income taxes (760)
Net income $ (1,210)<PAGE>
Exhibit A
Page 37 of 49
PEOPLES SALES AND SERVICE
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period $ 245
Add
West Florida Gas Inc. merger 3,124
Net income (1,210)
2,159
Deduct
Cash dividends on capital stock
Common -
Balance, end of period $ 2,159 <PAGE>
Exhibit A
Page 38 of 49
GATOR GAS
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ (557)
Receivables, less allowance for uncollectibles 3,709
Materials and supplies -
Prepayments -
3,152
Property, plant and equipment, at original cost
Other property 33
Less accum. Deprec. 13
20
Other assets
Deferred charges & other assets -
$ 3,172 <PAGE>
Exhibit A
Page 39 of 49
GATOR GAS
BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ -
Accounts payable 1,075
Taxes accrued (95)
980
Deferred income taxes 3
Other -
Common stock 1
Retained earnings 2,188
$ 3,172 <PAGE>
Exhibit A
Page 40 of 49
GATOR GAS
INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Revenues $ 5,582
Expenses
Cost of product sold 3,260
Operation 255
Taxes other than income 12
Depreciation 3
3,530
Income before interest 2,052
Interest expense (48)
Income before provision for income taxes 2,100
Provision for income taxes 810
Net income $ 1,290 <PAGE>
Exhibit A
Page 41 of 49
GATOR GAS
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
Balance, beginning of period $ 1,178
Add
Net income 1,290
2,468
Deduct
Cash dividends on capital stock
Common (280)
Balance, end of period $ 2,188 <PAGE>
<TABLE>
Exhibit A
Page 42 of 49
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
<CAPTION>
TPS TPS TPS Hardee
TECO Power Intern l Panama Guatemala Power
ASSETS (parent only) Power One One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash
equivalents $ (5) $ (2,121) $ 1 $ 2,458 $ 3,631 $ 2,162
Receivables 24,918 305 - 83 1,817 9,296
Inventories at average
cost
Fuel - - - - - 1,026
Materials and
supplies - - - - 693 1,693
Prepayments 36 - - 169 416 239
24,949 (1,816) 1 2,710 6,557 14,416
Investment in
subsidiaries 52,877 2,179 - 6,400 - -
Property, plant &
equipment, at
original cost
Plant in service - - - - 41,862 206,783
Other property 2,552 - - - 286 -
2,552 - - - 42,148 206,783
Less accum. deprec. (450) - - - (3,665) (30,826)
2,102 - - - 38,483 175,957
Other assets
Notes Receivable 13,750 - - 13,750 - -
Deferred charges &
other assets - 2 - 1,991 4,928 3,796
$ 93,678 $ 365 $ 1 $24,851 $ 49,968 $194,169
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 43 of 49
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET (Continued)
DEC. 31, 1997
(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 $ - $ - $ 787 $ - $ 6,913
Receivables 3,499 10,296 788 (40,838) 10,164
Inventories at average
cost
Fuel - - - - 1,026
Materials and
supplies - - - - 2,386
Prepayments - - (1) - 859
3,499 10,296 1,574 ( 40,838) 21,348
Investment in
subsidiaries 11,458(1) 34,573 - ( 96,579) 10,908
Property, plant &
equipment, at
original cost
Plant in service - - - - 248,645
Other property - - - - 2,838
- - - - 251,483
Less accum. deprec. - - - - (34,941)
- - - - 216,542
Other assets
Notes Receivable - - - ( 13,750) 13,750
Deferred charges &
other assets - - - - 10,717
$ 14,957 $ 44,869 $ 1,574 $(151,167) $ 273,265
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 46 through 53.
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 44 of 49
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
DEC. 31, 1997
(thousands of dollars)
<CAPTION>
TPS TPS TPS Hardee
LIABILITIES AND TECO Power Int l Panama Guatemala Power
CAPITAL (parent only) Power One One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Current Liabilities
Long-term debt due
within one year $ - $ - $ - $ - $ 2,442 $ 5,501
Notes payable - - - - - -
Accounts payable 24,476 861 - 22,710 (5,206) 3,300
Interest accrued - - - - 196 938
Taxes accrued 1,207 - - 485 2,460 -
25,683 861 - 23,195 (108) 9,739
Deferred income taxes (1,191) (173) - (8) (175) -
Other deferred credits 5 - - - 2,048 514
Sub debt - TECO Finance - - - - 13,750 -
Notes Payable 13,750 - - - - -
Long-term debt, less
amount due within one
year - - - - 24,417 137,885
Partners capital - HPI - - - - - 10,972
Subordinated debt - HPI - - - - - 1
Partners capital - HPII - - - - - 32,916
Subordinated debt - HPII - - - - - 3
Partners capital - TPS
Guatemala One - - - - 1,191 -
Minority Interests - - - - - -
Common stock 52,341 - 1 1 - -
Retained earnings 3,090 (323) - 1,663 8,845 2,139
$ 93,678 $ 365 $ 1 $ 24,851 $ 49,968 $194,169
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 45 of 49
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET (Continued)
DEC. 31, 1997
(thousands of dollars)
<CAPTION>
TCAE
LIABILITIES AND Hardee Hardee TPS Minority Elimin- TECO Power
CAPITAL Power I Power II Operation Interest ations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Current Liabilities
Long-term debt due
within one year $ - $ - $ - $ - $ - $ 7,943
Notes payable - - - - - -
Accounts payable - - 1,674 (245) (33,053) 14,517
Interest accrued - - - - - 1,134
Taxes accrued (10) (31) (101) - - 4,010
(10) (31) 1,573 (245) (33,053) 27,604
Deferred income taxes 3,130 9,389 - - - 10,972
Other deferred credits - - - - - 2,567
Sub debt - TECO Finance - - - - - 13,750
Notes Payable - - - - (13,750) -
Long-term debt, less
amount due within one
year - - - - - 162,302
Partners capital - HPI - - - - (10,972) -
Subordinated debt - HPI - - - - (1) -
Partners capital - HPII - - - - (32,916) -
Subordinated debt - HPII - - - - (3) -
Partners capital - TPS
Guatemala One - - - (47) (1,144) -
Minority Interests - - - 641 - 641
Common stock 10,973 32,919 1 - (43,895) 52,341
Retained earnings 864 2,592 - (349) (15,433) 3,088
$ 14,957 $ 44,869 $ 1,574 $ - $(151,167) $ 273,265
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 46 of 49
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
<CAPTION>
TPS TPS TPS Hardee
TECO Power Intern l Panama Guatemala Power
(parent only) Power One One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Revenues $ 94 $ - $ - $ 4,302 $ 15,845 $ 77,015
Expenses
Operation 2,446 190 - 898 3,164 3,005
Maintenance - - - - - 3,578
Fuel - - - - - 15,969
Depreciation 124 - - 460 2,029 6,312
BB4 - pass through - - - - - 22,266
Taxes other than income - - - - 231 2,979
2,570 190 - 1,358 5,424 54,109
Income from operations (2,476) (190) - 2,944 10,421 22,906
Other income - - - - 188 77
Income before interest &
income taxes (2,476) (190) - 2,944 10,609 22,983
Interest charges
Long-term debt - - - (1,652) 4,233 11,568
Other interest expense - - - - - (54)
- - - (1,652) 4,233 11,514
Income before provision
for income taxes (2,476) (190) - 4,596 6,376 11,469
Provision for income
taxes (899) (65) - 303 1,911 -
Net income $ (1,577) $(125) $ - $ 4,293 $ 4,465 $ 11,469
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 47 of 49
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT (Continued)
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
<CAPTION>
Hardee Hardee TPS Elimin- TECO Power
Power I Power II Operation ations (Consolidated)
<S> <C> <C> <C> <C> <C>
Revenues $ 2,867 $ 8,602 $ - $ (15,771) $92,954
Expenses
Operation - - - - 9,703
Maintenance - - - - 3,578
Fuel - - - - 15,969
Depreciation - - - - 8,925
BB4 - pass through - - - - 22,266
Taxes other than income - - - - 3,210
- - - - 63,651
Income from operations 2,867 8,602 - (15,771) 29,303
Other income - - - (163) 102
Income before interest &
income taxes 2,867 8,602 - (15,934) 29,405
Interest charges
Long-term debt - - - - 14,149
Other interest expense - - - - (54)
- - - - 14,095
Income before provision
for income taxes 2,867 8,602 - (15,934) 15,310
Provision for income
taxes 1,106 3,319 - - 5,675
Net income $ 1,761 $ 5,283 $ - $(15,934) $ 9,635
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 48 of 49
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
<CAPTION>
TPS TPS TPS Hardee
TECO Power Intern l Panama Guatemala Power
(parent only) Power One One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning
of period $ 2,793 $(198) $ - $ 1,558 $10,592 $ (182)
Add: Net income 9,635(1) (125) - 4,293 4,465 11,469
12,428 (323) - 5,851 15,057 11,287
Deduct:
Cash dividends on
captial stock
Common 9,338 - - 4,188 6,212 9,148
Balance, end of
period $ 3,090 $(323) $ - $ 1,663 $ 8,845 $ 2,139
1Includes $11,212 of TECO Power Service s equity in earnings of subsidiaries.
</TABLE>
<PAGE>
<TABLE>
Exhibit A
Page 49 of 49
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS (Continued)
TWELVE MONTHS ENDED DEC. 31, 1997
(thousands of dollars)
<CAPTION>
TCAE
Hardee Hardee TPS Minority Elimin- TECO Power
Power I Power II Operation Interest ations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning
of period $ 840 $ 2,521 $ - $(196) $(14,937) $ 2,791
Add: Net income 1,761 5,283 - (153) (26,993) 9,635
2,601 7,804 - (349) (41,930) 12,426
Deduct:
Cash dividends on
capital stock
Common 1,737 5,212 - - (26,497) 9,338
Balance, end of
period $ 864 $ 2,592 $ - $(349) $(15,433) $ 3,088
</TABLE>
<PAGE>
EXHIBIT B
PAGE 1 OF 1
FINANCIAL DATA SCHEDULE
A financial data schedule was filed as Exhibit 27 (EX-27) part of the
electronic filing of this document 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, 1997:
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 a 96.06-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-31-1997
<PERIOD-START> JAN-1-1997
<PERIOD-END> DEC-31-1997
<PERIOD-TYPE> YEAR
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 3,960,436
<TOTAL-OPERATING-REVENUES> 1,862,270
<NET-INCOME> 201,924
</TABLE>
