SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 7, 1999
TECO ENERGY, INC.
(Exact name of registrant as specified in its charter)
FLORIDA 1-8180 59-2052286
(State or other jurisdiction (Commission file (IRS Employer
of incorporation) Number) Identification No.)
702 North Franklin Street, Tampa Florida 33602
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (813) 228-4111
Page 1
Item 5. Other Events
See the Press Release dated Dec. 7, 1999, filed as Exhibit
99.1 and incorporated herein by reference, announcing Tampa
Electric Company's 10-year environmental program.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated Dec. 7, 1999.
Page 2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
Dated: Dec. 7, 1999 TECO Energy, Inc.
By:/s/ G. L. Gillette
G. L. Gillette
Vice President-Finance,
and Chief Financial Officer
(Principal Financial Officer)
Page 3
INDEX TO EXHIBITS
Exhibit No. Description of Exhibits Page No.
99.1 Press Release dated Dec. 7, 1999 5
Page 4
[Tampa Electric Company Letterhead]
FOR IMMEDIATE RELEASE CONTACT: Mitch Lubitz
Work: 813/228-4281
Home: 727/521-1202
E-mail:
[email protected]
TAMPA ELECTRIC AND FLORIDA DEP ANNOUNCE
AGREEMENT ON $1 BILLION ENVIRONMENTAL PLAN
TAMPA (12/7/99) Tampa Electric Company and the Florida
Department of Environmental Protection (DEP) today announced a
sweeping 10-year $1 billion program that will dramatically
decrease overall emissions from the company s power plants.
A major feature of the program is the conversion of Tampa
Electric s Gannon Station from coal to natural gas. Coal-fired
Units 1, 2 and 6 will be shut down by year-end 2004, while
Units 3, 4 and 5 will be re-powered with new technology and
switched to natural gas at a cost of some $600 million.
The redeveloped plant will be renamed Bayside Power
Station and by 2004 will provide 1,475 megawatts of natural
gas-fueled electric energy.
By using natural gas at the new Bayside Power Station
along with high-efficiency, state-of-the-art controls at its
newer remaining coal-fired plants,
Tampa Electric will be able to significantly reduce emissions
and meet its customers growing energy needs for the next 20
years.
At Tampa Electric, we re always evaluating the most
cost-effective, environmentally responsive technologies
available to expand our power generation capabilities, said
Tampa Electric President John Ramil.
Through implementation of this different technology, we
will be able to
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AGREEMENT -- 2
significantly reduce environmental emissions while providing
clean, reliable and affordable energy to our customers.
Tampa Electric said its decision to reconfigure its
Bayside Power Station and to switch to natural gas was based
on several factors.
Among them were the company's need to satisfy increasing
customer demand for reliable electricity at reasonable costs,
the ability to continue meeting environmental compliance
regulations, utilization of existing substations and
transmission facilities, the availability of natural gas from
proposed natural gas pipelines in the area and the opportunity
to reuse existing plant equipment.
The $1 billion project is expected to have a small impact
on Tampa Electric customers monthly bills over the 10-year
period, and is subject to Florida Public Service Commission
approval. The company will be working with the PSC to develop
new programs to further reduce the impact on its 550,000
customers throughout West Central Florida.
Gordon L. Gillette, TECO Energy chief financial officer
said, From an investor standpoint, this is a continuation of
our strategy to focus on our Florida operations, and will help
strengthen our competitive position for the future. The plan
is consistent with our growth projections for the years
ahead.
A Multi-Faceted Plan
Using a variety of proven technologies, Tampa Electric
said it expects to reduce sulfur dioxide (SO2) emissions by
almost 80 percent and emissions of nitrogen oxide (NOx) by
over 85 percent by the year 2010 from 1997 levels.
These reductions are on top of Tampa Electric s efforts with
the Environmental Protection Commission of Hillsborough County
to develop a voluntary program to
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AGREEMENT -- 3
lower nitrogen oxide emissions.
Today's announcement demonstrates Tampa Electric s
continuing efforts to decrease emissions. Just this week the
company began testing a new SO2-removing scrubber at its Big
Bend Station Units 1 and 2. This scrubber will help the
company comply with the requirements of Phase II of the U. S.
Clean Air Act Amendments of 1990 by significantly reducing
sulfur dioxide emissions.
Improvements in coal preparation and combustion
technology have also been incorporated to achieve compliance
with the nitrogen oxide reduction requirements of that law.
In addition to the conversion of Gannon Station to high-
efficiency, combined cycle gas turbines, the plan calls for
the company to:
Maximize the efficiency of the new scrubber serving Units 1
and 2 at Big Bend Station to target a 95 percent sulfur
removal efficiency.
Achieve major NOx emission reductions of 33,400 tons from the
Big Bend Station units by 2010, with significant reductions
as early as 2007.
Undertake a study of improved particulate removal and
monitoring at Big Bend Station and make improvements based
on results.
Invest up to $8 million for developing innovative technologies
for reducing NOx emissions.
Cooperate with DEP on its Bay Regional Air Chemistry
Experiment program that studies nitrogen deposition in Tampa
Bay, including contributing of up to $2 million.
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AGREEMENT 4
Collaborate with DEP to develop and implement state tax policy
aimed at emissions reductions and other environmental
programs.
Implementing the Agreement
The agreement between Tampa Electric and DEP has been
formalized by a consent judgment entered by the Circuit Court
of the Thirteenth Judicial Circuit in Tampa.
This agreement with the state also responds to a federal
coal-fired utility initiative announced last month by the U.
S. Environmental Protection Agency. The agreement makes Tampa
Electric the first utility in the nation to respond to the EPA
initiative.
We are grateful to David Struhs and the entire DEP for
their leadership and support of a plan that works for our
customers and our community, Ramil said.
For additional media materials, including high-resolution
company logos, power plant photos, electricity generation and
distribution graphics, and a
glossary of terms, please visit our Online Newsroom at
www.tecoenergy.com
Tampa Electric is the principal subsidiary of TECO
Energy, Inc. TECO Energy is a diversified, energy-related
utility holding company also based in Tampa. In addition to
Tampa Electric, its principal businesses include Peoples Gas,
TECO Coal, TECO Transport, TECO Power Services, TECO Coalbed
Methane, and Bosek, Gibson and Associates.
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