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 January 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, 87
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. and
Whaleco, Inc, which are Alabama corporations; 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, 39 subsidiary companies.
Eleven of the subsidiaries, including TPS Guatemala One, Inc., are
organized under the laws of Florida. Triangle Finance Company,
LLC; TM Global Power, L.L.C.; Mosbacher Power International,
L.L.C.; TM Power Ventures, L.L.C.; Mosbacher Power Group, L.L.C.
and TM Czech Power, LLC are organized under the laws of Delaware.
T P S Operaciones de Guatemala, Limitada; Central Generadora
Electrica San Jose, SRL; TPS de Ultramar Guatemala, S.A.;
Distribucion Electrica CentroAmericana, S.A. "DECA"; TPS
A d m inistraciones, Limitada and Generadora Electrica
C e ntroAmericana, 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.; TPS de Ultramar, Ltd. (Formerly TECO
Transport International, Inc.); TPS Escuintla I, LDC; TPS Pavana,
Ltd. and CPC Limited Partnership are all organized under the laws
of the Cayman Islands. Bear Energy Corporation and RAM Power
India I, Ltd. (International Business Companies) are organized
under the laws of the British Virgin Islands. TM Kladno, B.V.,
Nations Kladno, B.V. and Matra Powerplant Holdings, B.V. are
organized under the laws of The Netherlands. Mosbacher Power ,
Ltda. is organized under the laws of Brazil. Cambodia Power
Company is organized under the laws of Cambodia. ECK Generating,
S.R.O. is organized under the laws of the Czech Republic. TM
2<PAGE>
Kladno Electricidad, S.R.L. is organized under the laws of Spain.
PPN Mauritius Company is organized under the laws of the Republic
of Mauritius.
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
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 P e oples Gas System division,
operates as a local natural gas
distribution business serving
territories in Florida.
3<PAGE>
Name and address Location and nature of business
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
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 Florida. Limited partner of
(Special Project One) TECO/BGA Limited.
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) which performs engineering
TECO Plaza services.
702 North Franklin Street
Tampa, FL 33602
TeCom Inc.(1) Florida. Markets advanced
(TeCom) energy management automation
TECO Plaza and control systems.
702 North Franklin Street
Tampa, FL 33602
4<PAGE>
Name and address Location and nature of business
TECO Finance, Inc.(1) Florida. Provides financing
(TECO Finance) for the diversified
TECO Plaza activities of TECO Energy.
702 North Franklin Street
Tampa, FL 33602
TECO Oil & Gas, Inc.(1)(4) Texas. Participated in the
TECO Oil & Gas exploration and production of
TECO Plaza oil and gas in the Gulf of
702 North Franklin Street Mexico and Texas. Operations
Tampa, FL 33602 discontinued in 1998.
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 and
Company processing.
(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
5<PAGE>
Name and address Location and nature of business
Premier Elkhorn Coal Company Kentucky. Coal mining and
(Premier Elkhorn) processing.
P. O. Box 39
Nevisdale, KY 40754
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 which was
702 N. Franklin Street involved in real estate
Tampa, FL 33602 investment and is now
dissolved.
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. Real estate
Ltd. (5) investment.
(UTC I)
7650 W. Courtney Campbell Cswy.
Tampa, FL 33607
UTC II, Inc.(5) Florida. Real estate
(UTC II) investment.
TECO Plaza
702 N. Franklin Street
Tampa, FL 33602
Brandon Properties Partners, Florida. Real estate
Ltd. investment.
(Brandon Properties)
6<PAGE>
Name and address Location and nature of business
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. Real estate
Partners, Ltd. investment.
TECO Plaza
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.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Peoples Sales & Service Company(1) Florida. Non-operating
(Peoples Sales & Service) company.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Peoples Cogeneration Company(1) Florida. Development of natural
(Peoples Cogeneration) gas-fired cogeneration
TECO Plaza projects.
702 North Franklin Street
Tampa, FL 33602
PAS Power Co. Florida. Development of
(PAS Power) natural gas-fired cogeneration
TECO Plaza projects.
702 North Franklin Street
Tampa, FL 33602
Suwannee Gas Marketing, Inc.(1) Florida. Holding company.
(Suwannee Gas)
TECO Plaza
702 North Franklin Street
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
(TECO Gas Services) distribution of natural or
TECO Plaza manufactured gas at retail.
702 North Franklin Street
Tampa, FL 33602
Florida Natural Fuels, Ltd. Florida. Sells compressed
(Florida Natural Fuels) natural gas as motor fuel.
TECO Plaza
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), Florida. Name-holding company
Inc. (1) with no operations.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
Whaleco, Inc. (1) Alabama. Non-operating
(Whaleco) company.
TECO Plaza
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 Holdings, Inc. Florida. Non-operating
(formerly TPS Panama One, Inc.) company.
(TPS Holdings)
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
9<PAGE>
Name and address Location and nature of business
TPS Guatemala One, Inc. Florida. Developer and joint
(TPS Guatemala One) venture partner in a whole-
TECO Plaza sale power generation project
702 North Franklin Street (the Alborada Power Station ).
Tampa, FL 33602 Holds an interest in TCAE,
which is an exempt wholesale
generator (EWG).
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
TM Power Ventures, LLC Texas. Develops projects for
712 Main Street, Suite 2200 production of electricity,
Houston, TX 77002 thermal energy, chilled water
and byproducts.
Mosbacher Power Group LLC Texas. Non-operating company.
712 Main Street, Suite 2200
Houston, TX 77002
TM Czech Power LLC Florida. Holds an interest
702 N. Franklin Street in TM Kladno Electricidad,
Tampa, FL 33602 S.R.L.
TM Kladno Electricidad, Florida. Holds an interest in
S.R.L. TM Kladno B.V.
702 N. Franklin Street
Tampa, FL 33602
10<PAGE>
Name and address Location and nature of business
TM Kladno, B.V. Florida. Holds an interest in
702 N. Franklin Street Nations Kladno B.V.
Tampa, FL 33602
Nations Kladno, B.V. The Netherlands. Holds an
1076 A2 Amsterdam interest in Matra Powerplant
Locatellikade 1, Holdings, B.V.
Parnassustoren
The Netherlands
Matra Powerplant The Netherlands. Holds an
Holdings, B.V. interest in ECK Generating
J.J. Viottastraat 46 S.R.O.
1071 J. Amsterdam,
The Netherlands
ECK Generating, S.R.O. Czech Republic. Wholesale
Dubska Teplarna power generation project under
272 03 Kladno, construction.(6)
Czech Republic
TPS International Power, Inc. Cayman Islands. Subsidiary
(TPS International Power) formed for the purpose of
PO 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
PO 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
PO Box 866 wholesale power generation
Anderson Square Building project not yet in
3rd Floor operation (the San Jose Power
George Town, Grand Cayman Station). (3)
Cayman Islands, B.W.I
Triangle Finance Delaware. Subsidiary formed
Company, LLC for the purpose of borrowing
(Triangle) and lending funds.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
11<PAGE>
Name and address Location and nature of business
San Jose Power Holding Cayman Islands. Holds a
Company, Ltd. partnership interest in CGESJ
(San Jose Power Holding (defined below).
Company)
Padgett-Brown & Company Ltd.
P.O. Box 1111GT
George Town, Grand Cayman
Cayman Islands, B.W.I.
Central Generadora Guatemala. Limitada formed
Electrica to develop the San Jose Power
San Jose, SRL (CGESJ) Station. Construction of this
13 Calle 3-40, Zona 10 project is expected to be
Edifico Atlantis, competed in 2000.
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
3rd Floor in operation.
George Town, Grand Cayman
Cayman Islands, B.W.I.
TPS Operaciones de Guatemala. Limited corporation
Guatemala, Ltda. formed for the purpose of
(OPSG) operating and managing the
13 Calle 3-40, Zona 10 San Jose Power Station.
Edifico Atlantis
Oficiana 503, 5t. Nivel
Guatemala City,
Guatemala, C.A.
TPS Administraciones, Limitada Guatemala. Administration
(TPS Administraciones) company for San Jose Power
13 Calle 3-40, Zona 10 Station, which is not yet in
Edificio Atlantis operation, and Alborada Power
Oficina 503, 5t Nivel Station, which is an EWG.
Guatemala City, Guatemala C.A.
TPS de Ultramar, Ltd. Cayman Islands. Owns an
(formerly known as TECO interest in TPS de Ultramar
Transport International, Inc.) Guatemala, S.A.
(TPS de Ultramar)
P.O. Box 866
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
12<PAGE>
Name and address Location and nature of business
TPS de Ultramar Guatemala, Guatemala. Owns an interest
S.A. in DECA (as defined below).
(TPS de Ultramar Guatemala)
13 Calle 3-40, Zona 10
Edificio Atlantis
Oficiana 503, 5t. Nivel
Guatemala City, Guatemala C.A.
Distribucion Electrica Guatemala. Owns an interest
CentroAmericana, S.A. in Empresa Electrica de
(DECA) Guatemala, S.A. (EEGSA), which
13 Calle 3-40, Zona 10 is a foreign utility company.
Edificio Atlantis
Oficiana 503, 5t. Nivel
Guatemala City, Guatemala C.A.
TPS Escuintla I, LDC Cayman Islands. Non-operating
(Escuintla I) company.
P.O. Box 866
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
Generadora Electrica Guatemala. Limited corporation
Centroamerica, Limited formed to develop a wholesale
(GEC) power generation project. Non-
13 Calle 3-40, Zona 10 operating company.
Edifico Atlantis
Oficiana 503, 5t. Nivel
Guatemala City,
Guatemala, C.A.
TPS Pavana, Ltd. Cayman Islands. Non-operating
(Pavana) company.
P.O. Box 866
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
TM Global Power, L.L.C. Delaware. Develops foreign
(TM Global Power) projects for production of
712 Main Street, Suite 2200 electricity, thermal energy,
Houston, TX 77002 chilled water and by products.
13<PAGE>
Name and address Location and nature of business
Bear Energy Corporation British Virgin Islands.
(Bear Energy) General partner of CPC Limited
Craigmuir Chambers Partnership.
P.O. Box 71
Road Tolon, Tortola
British Virgin Islands
CPC Limited Partnership Cayman Islands. Holds an
Maples & Calder interest in Cambodia Power
P.O. Box 309 company.
Ugland House
South Church Street
Grand Cayman, Cayman Islands
Cambodia Power Company Cambodia. Non-operating
(Cambodia Power) company.
712 Main Street, Suite 2200
Houston, TX 77002
Mosbacher Power Delaware. Develops electric
International L.L.C. power cogeneration projects.
(Mosbacher Power Int l)
712 Main Street, Suite 2200
Houston, TX 77002
Mosbacher Power Brasil, Brazil. Non-operating
Ltda. company.
(Mosbacher Power Brasil)
712 Main Street, Suite 2200
Houston, TX 77002
RAM Power India I, Ltd. British Virgin Islands. Non-
(RAM Power India I) operating company.
Craigmuir Chambers
P.O. Box 71
Road Tolon, Tortola
British Virgin Islands
Pasco Power GP, Inc. Florida. Holds an indirect
(Pasco Power) interest in a qualified
TECO Plaza cogeneration facility in
702 North Franklin Street Florida.
Tampa, FL 33602
14<PAGE>
(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 San Jose holds 46-percent of the Class A shares and 50% of
the Class B shares of San Jose Power Holding Company at December
31, 1998.
(4) Discontinued operations. Offshore assets sold for $39.2 million
in cash in 1998.
(5) TECO Properties sold the assets of UTC I and UTC II in 1998.
(6) ECK Generating, S.R.O. was designated an Exempt Wholesale
Generator (EWG) in February 1999. The facility to be used by ECK
Generating, S.R.O. is currently under construction and is not yet
in operation.
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
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 and Hardee Power Partners:
Tampa Electric - Electric Operations
Tampa Electric had five electric generating plants and four
combustion turbine units in service with a total net generating
capability at December 31, 1998 of 3,615 megawatts (MW) including
Big Bend (1,742-MW capability for four coal units), Gannon (1,180-
M W capability for six coal units), Hookers Point (215-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
15<PAGE>
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 16,368,281 KVA. The transmission system
consists of approximately 1,196 pole miles of high voltage
transmission lines, and the distribution system consists of 6,905
pole miles of overhead lines and 2,741 trench miles of underground
lines. As of December 31, 1998, there were 537,107 meters in
service. All of this property is located in the State of 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
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 which serves as headquarters for TECO
E n e r g y, Tampa Electric, and numerous other TECO Energy
subsidiaries.
Tampa Electric - Gas Operations
Tampa Electric, through its Peoples Gas System division, owns
approximately 7,300 miles of distribution mains, over 4,800 miles
of service lines, plus meters, regulators, and other related
equipment used in serving natural gas to approximately 240,000
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.
16<PAGE>
Hardee Power Partners
Hardee Power Partners has one electric generating plant, the
Hardee Power Station, which went into commercial operation
January 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 18,513,335,000 KWH - Florida
$1,234,604,000 Revenue
Tampa Electric (Peoples Gas System division)
32,083,000 Mcf(Sales) Florida
$202,814,000 Revenue
59,115,000 Mcf
(Transportation) Florida
$27,445,000 Revenue
TECO Power - None
Hardee Power I - None
Hardee Power Partners - 916,888,000 KWH - Florida
$80,483,000 Revenue
17<PAGE>
(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 20,792,,000 Total KWH
$4,777,415 Total Revenue
Kentucky - 2,850,000 KWH
$59,425 Revenue
Texas - 8,255,000 KWH
$2,399,103 Revenue
Tennessee - 9,196,000 KWH
$2,281,073 Revenue
Alabama - 491,000 KWH
$37,814 Revenue
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 - 7,974,349 Mcf of natural gas -
Florida
$21,213,000 Expense
18<PAGE>
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.
1. Facility name, address and location:
Alborada Power Station (owned by TCAE, an EWG)
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
s w itchyard with two 13.8KV transformers and associated
equipment.
2. Facility name, address and location:
Empresa Electrica de Guatemala, S.A. (EEGSA) (a foreign
utility)
Guatemala City, Guatemala
Description:
Principal electric distribution company in Guatemala.
(b) Name of each system company that holds an interest in such EWG
or foreign utility company; and the description of the
interest held.
1. TCAE
At December 31, 1998:
TECO Power had a 100-percent ownership interest in TPS
Guatemala One.
TPS Guatemala One had a 96.06-percent ownership interest in
TCAE.
2. EEGSA
At December 31, 1998:
TECO Power had a 100-percent ownership interest in TPS
International Power.
19<PAGE>
TPS International Power had a 100-percent ownership interest
in TPS de Ultramar.
TPS de Ultramar had a 99-percent ownership interest in TPS de
Ultramar Guatemala.
TPS de Ultramar Guatemala had a 30-percent ownership interest
in DECA.
DECA had an 80-percent ownership in EEGSA.
(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.
1. TCAE
At December 31, 1998:
TECO Power had advanced to TPS Guatemala One - $8,916,262.
TPS Guatemala One had invested in TCAE - $1,144,247.
Standby letters of credit totaling $6.9 million at December
31, 1998 were obtained by TECO Energy to support certain
activities of TCAE.
There were no other guarantees or loans between the system
companies and TPS Guatemala One or TCAE.
2. EEGSA
At December 31, 1998:
TECO Power had invested $100,744,500 in TPS International
Power.
TPS International Power had invested $100,744,500 in TPS de
Ultramar.
TPS de Ultramar had invested $100,744,500 in TPS de Ultramar
Guatemala.
TPS de Ultramar Guatemala had invested $100,744,500 in DECA.
DECA had invested $520,000,000 in EEGSA.
20<PAGE>
There were no other loans or guarantees between or among the
system companies and TPS de Ultramar, TPS de Ultramar
Guatemala, DECA and EEGSA.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
Total capitalization of TCAE at December 31, 1998 was
$2,697,276.
Total earnings of TCAE for the year ended December 31, 1998
were $4,468,876. TPS Guatemala One s portion of the earnings
of TCAE for the year ended December 31, 1998 was $4,292,802.
Total capitalization of EEGSA at December 31, 1998 was
$36,383,000.
Total earnings of EEGSA for the year ended December 31, 1998
were $17,396,572.
TPS de Ultramar Guatemala s portion of the earnings of DECA
for the year ended December 31, 1998 was $1,758,000.
(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
December 31, 1998 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 are organizational charts showing the
relationship of TECO Energy, TECO Power, TPS Guatemala One and TCAE
and the relationship of TECO Energy, TECO Power, TPS International,
TPS de Ultramar, TPS de Ultramar Guatemala, DECA and EEGSA.
21<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 25th day of February, 1999.
(CORPORATE SEAL) TECO ENERGY, INC.
Attest: BY: /S/ W.L. Griffin
W.L. Griffin
Vice President-Controller
D. E. Schwartz, Secretary
(CORPORATE SEAL) TECO POWER SERVICES CORPORATION
Attest: BY: /S/ S.M. Ross
S. M. Ross
Vice President-Controller
D. E. Schwartz, Secretary
(CORPORATE SEAL) HARDEE POWER I, INC.
Attest: BY: /S/ S.M. Ross
S. M. Ross
Vice President-Controller and
Assistant Secretary
D. E. Schwartz, 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
22<PAGE>
<TABLE>
Exhibit A
Page 1 of 52
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
December 31, 1998
(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 $ 844 $ 15,026 $ 612 $ 387 $ - $ 16,869
Short-term investments - 6 - - - 6
Receivables, less
allowance for
uncollectibles 142,763 233,202 301,166 215,373 (662,872) 229,632
Inventories, at average
cost
Fuel 87,314 5,902 - - - 93,216
Materials and supplies 45,466 18,587 - - - 64,053
Prepayments 8,447 5,243 12 1,373 - 15,075
284,834 277,966 301,790 217,133 (662,872) 418,851
Investment in subsidiaries - - 1,789,553 - (1,789,553) -
Property, plant & equipment,
at original cost
Utility plant in svc-ele 3,742,544 248,771 - - - 3,991,315
Utility Plant in svc-gas 518,508 - - - - 518,508
Construction work in
progress 71,492 29,555 - - - 101,047
Other property 8,129 980,719 - - 758 989,606
4,340,673 1,259,045 - - 758 5,600,476
Less accum. deprec. (1,722,220) (570,700) - - - (2,292,920)
2,618,453 688,345 - - 758 3,307,556
Other assets
Other investments - 70,665 1,316 - - 71,981
Deferred income taxes 116,113 7,939 1,946 - (26,869) 99,129
Deferred charges &
other assets 127,087 198,005 (4,337) - (39,016) 281,739
243,200 276,609 (1,075) - (65,885) 452,849
$3,146,487 $1,242,920 $2,090,268 $217,133 ($2,517,552) $4,179,256
1 Diversified companies consist of TECO Investments, TECO Diversified consolidated, TeCom, TECO Power
Services consolidated, BGA, Peoples Gas Company, Peoples Sales & Service and TECO Gas Services, Inc.
2 Includes TECO Energy Parent and certain non-operating subsidiaries.<PAGE>
</TABLE>
Exhibit A
Page 2 of 52
<TABLE>
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
December 31, 1998
(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 $ 4,580 $ 10,381 $ - $ 21,000 $ - $ 35,961
Notes payable 79,700 156 89,982 239,300 (90,138) 319,000
Accounts payable 189,078 236,575 340,745 13,923 (572,163) 208,158
Customer deposits 77,531 742 - - - 78,273
Interest accrued 8,860 1,477 3,378 445 - 14,160
Taxes accrued 8,763 8,654 (11,094) (1,451) 294 5,166
368,512 257,985 423,011 273,217 (662,007) 660,718
Deferred income taxes 447,566 132,764 (53,619) - (26,869) 499,842
Investment tax credit 45,077 1,631 - - - 46,708
Regulatory liability -
tax related 73,007 - - - (39,015) 33,992
Other deferred credits 123,213 22,459 4,920 - (1) 150,591
Long-term debt, less
amount due within one year 774,502 296,094 200,000 9,000 - 1,279,596
Preferred stock of
Tampa Electric - - - - - -
Common stock 1,026,125 466,923 496,660 100 (1,493,198) 496,610
Retained earnings 288,485 65,064 1,080,657 (65,184) (296,462) 1,072,560
Unearned compensation
related to ESOP - - (61,361) - - (61,361)
$3,146,487 $1,242,920 $2,090,268 $217,133 ($2,517,552) $4,179,256
1 Diversified companies consist of TECO Investments, TECO Diversified consolidated, TeCom, TECO Power
consolidated, BGA, Peoples Gas Company, Peoples Sales & Service and TECO Gas Services, Inc.
2 Includes TECO Energy Parent and certain non-operating subsidiaries.<PAGE>
</TABLE>
Exhibit A
Page 3 of 52
<TABLE>
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED December 31, 1998
<CAPTION>
(thousands of dollars)
Tampa TECO
Electric Diversified TECO Energy - TECO Energy, Inc.
Company Companies (1)Parent/Other(2) Finance Eliminations (Consolidated)
<S> <C> <C> <C> <C> <C> <C>
Revenues $1,487,411 $674,108 $ - $ 1,952 $(205,342) $1,958,129
Expenses
Operation 787,866 455,946 6,620 2,045 (222,406) 1,030,071
Maintenance 98,773 30,117 - - - 128,890
Depreciation 167,149 61,136 - - 44 228,329
Non-recurring charges 9,600 16,310 - - - 25,910
Taxes-other than income 118,141 31,308 1 - - 149,450
Taxes-fed. & state income 86,313 (18,860) - - (67,453) -
1,267,842 575,957 6,621 2,045 (289,815) 1,562,650
Income from operations 219,569 98,151 (6,621) (93) 84,473 395,479
Other income (expense)
Other income (expense), net (9,791) 544 7,146 - (7,651) (9,752)
Preferred dividend req.
of Tampa Electric - - - - - -
(9,791) 544 7,146 - (7,651) (9,752)
Income before interest &
income taxes 209,778 98,695 525 (93) 76,822 385,727
Interest charges
Interest expense 63,431 6,283 7,490 16,344 10,795 104,343
Allowance for borrowed
funds used during
construction - - - - - -
63,431 6,283 7,490 16,344 10,795 104,343
Income before provision
for income taxes 146,347 92,412 (6,965) (16,437) 66,027 281,384
Provision for income taxes - 23,249 (1,951) (6,340) 66,054 (81,012)
146,347 69,163 (5,014) (10,097) (27) 200,372
Gain on disposal of
discontinued operations,
net of income taxes - - 6,149 - - 6,149
Net Income $ 146,347 $ 69,163 $ 1,135 $(10,097) $ (27) $ 206,521
1 Diversified companies consist of TECO Investments, TECO Diversified consolidated, TeCom, TECO Power
Services consolidated, BGA, Peoples Gas Company, Peoples Sales & Service and TECO Gas Services.
2 Includes TECO Energy Parent and certain non-operating subsidiaries.<PAGE>
</TABLE>
Exhibit A
Page 4 of 52
<TABLE>
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(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 $289,625 $ 67,392 $1,026,139 $(55,087) $ (303,480) $1,024,589
Add
Griffis merger - 1,613 750 - (1,613) 750
Net income 146,347 69,163 213,068(2) (10,097) (211,960) 206,521
Tax benefits - ESOP
dividends - - 2,067 - - 2,067
435,972 138,168 1,242,024 (65,184) (517,053) 1,233,927
Deduct
Cash dividends on
capital stock
Preferred - - - - - -
Common 147,487 73,104 161,367 - (220,591) 161,367
Other - Adjustment - - - - - -
Balance, end of period $288,485 $ 65,064 $1,080,657 $(65,184) $(296,462) $1,072,560
1 Diversified companies consist of TECO Investments, TECO Diversified consolidated, TeCom,
TECO Power consolidated, BGA, Peoples Gas Company, Peoples Sales & Service and TECO Gas Services,
Inc.
2 Includes $211,933 of TECO Energy's equity in earnings of subsidiaries.
3 Includes TECO Energy Parent and certain non-operating subsidiaries.<PAGE>
</TABLE>
Exhibit A
Page 5 of 52
TECO TRANSPORT CORPORATION
CONSOLIDATED BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 205
Receivables, less allowance for uncollectibles 77,512
Inventories, at average cost
Materials and supplies 10,911
Prepayments 1,540
90,168
Property, plant and equipment, at original cost
Construction work in progress 27,523
Other property 522,995
550,518
Less accumulated depreciation 331,855
218,663
Other assets
Deferred income taxes 322
Deferred charges & other assets 570
892
$309,723 <PAGE>
Exhibit A
Page 6 of 52
TECO TRANSPORT CORPORATION
CONSOLIDATED BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 1,817
Accounts payable taxes 29,959
Interest accrued 476
Taxes accrued 885
33,137
Deferred income taxes 20,278
Investment tax credit 1,631
Other deferred credits 14,157
Long-term debt, less amount due within one year 142,179
Common stock 52,133
Retained earnings 46,208
$309,723 <PAGE>
Exhibit A
Page 7 of 52
TECO TRANSPORT CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $230,003
Expenses
Operation 134,371
Maintenance 19,161
Depreciation 26,588
Taxes-other than income 6,687
186,807
Income from operations 43,196
Other income 46
Income before interest & income taxes 43,242
Interest expense 6,228
Income before provision for income taxes 37,014
Provision for income taxes 13,178
Net income $ 23,836 <PAGE>
Exhibit A
Page 8 of 52
TECO TRANSPORT CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period $46,384
Add
Net income 23,836
70,220
Deduct
Cash dividends on capital stock
Common 24,012
Balance, end of period $46,208 <PAGE>
Exhibit A
Page 9 of 52
TECO COAL CORPORATION
CONSOLIDATED BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ (6)
Short-term investments 6
Receivables, less allowance for uncollectibles 41,703
Inventories, at average cost
Fuel 4,663
Materials and supplies 1,340
Prepayments 1,747
49,453
Property, plant and equipment, at original cost
Construction work in progress 2,032
Other property 178,422
180,454
Less accumulated depreciation 72,311
108,143
Other assets
Deferred income taxes 6,768
Deferred charges & other assets 15,625
22,393
$179,989 <PAGE>
Exhibit A
Page 10 of 52
TECO COAL CORPORATION
CONSOLIDATED BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 10,239
Taxes accrued 3,026
13,265
Deferred income taxes 2,301
Other deferred credits 3,319
Common stock 148,677
Retained earnings 12,427
$179,989 <PAGE>
Exhibit A
Page 11 of 52
TECO COAL CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $232,354
Expenses
Operation 170,464
Maintenance 9,550
Asset Adjustment 13,596
Depreciation 10,618
Taxes-other than income 18,220
222,448
Income before interest & income taxes 9,906
Interest expense 1
Income before provision for income taxes 9,905
Provision for income taxes 1,307
Net income $ 8,598 <PAGE>
Exhibit A
Page 12 of 52
TECO COAL CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period $15,870
Add
Net income 8,598
24,468
Deduct
Cash dividends on capital stock
Common 12,041
Balance, end of period $12,427 <PAGE>
Exhibit A
Page 13 of 52
TECO PROPERTIES CORPORATION
CONSOLIDATED BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 284
Receivables, less allowance for uncollectibles 19,506
Prepayments -
19,790
Property, plant and equipment, at original cost
Other property 11,689
Less accumulated depreciation 540
11,149
Other assets
Other investments 13,174
Deferred income taxes 573
Deferred charges & other assets 7,555
21,302
$52,241 <PAGE>
Exhibit A
Page 14 of 52
TECO PROPERTIES CORPORATION
CONSOLIDATED BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ 156
Taxes accrued (77)
79
Deferred income taxes 994
Common stock 49,985
Retained earnings 1,183
$52,241 <PAGE>
Exhibit A
Page 15 of 52
TECO PROPERTIES CORPORATION
CONSOLIDATED INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $4,057
Expenses
Operation 613
Maintenance (27)
Depreciation 52
Taxes-other than income 54
692
Income from operations 3,365
Other income 772
Income before provision for income taxes 4,137
Provision for income taxes 1,606
Net income $2,531 <PAGE>
Exhibit A
Page 16 of 52
TECO PROPERTIES CORPORATION
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period $1,730
Add
Net income 2,531
4,261
Deduct
Cash dividends on capital stock
Common 3,078
Balance, end of period $1,183 <PAGE>
Exhibit A
Page 17 of 52
TECO COALBED METHANE, INC.
BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 355
Receivables, less allowance for uncollectibles 6,948
7,303
Property, plant and equipment, at original cost
Other property 210,272
Less accumulated depreciation 102,802
107,470
$114,773 <PAGE>
Exhibit A
Page 18 of 52
TECO COALBED METHANE, INC.
BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 177
Notes payable 78,383
Accounts payable (1,990)
Taxes accrued (74)
76,496
Deferred income taxes 29,524
Other deferred credits 313
Retained earnings 8,440
$114,773 <PAGE>
Exhibit A
Page 19 of 52
TECO COALBED METHANE, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $39,017
Expenses
Operation 15,831
Depreciation 11,451
Taxes-other than income 1,837
Taxes-section 29 credits (1) (18,860)
10,259
Income before interest & income taxes 28,758
Interest expense 34
Income before provision for income taxes 28,724
Provision for income taxes 3,776
Net income $24,948
(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 20 of 52
TECO COALBED METHANE, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period $10,181
Add
Net income 24,948
35,129
Deduct
Cash dividends on capital stock
Common 26,689
Balance, end of period $ 8,440 <PAGE>
Exhibit A
Page 21 of 52
TECO INVESTMENTS, INC.
BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 153
Receivables, less allowance for uncollectibles 3,657
3,810
Other assets
Other investments 57,491
Deferred charges & other assets 4
57,495
$61,305<PAGE>
Exhibit A
Page 22 of 52
TECO INVESTMENTS, INC.
BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable $ 157
Taxes accrued (570)
(413)
Deferred income taxes 55,839
Common stock 5,168
Retained earnings 711
$61,305 <PAGE>
Exhibit A
Page 23 of 52
TECO INVESTMENTS, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $ 361
Expenses
Operation 49
Income before provision for income taxes 312
Provision for income taxes 115
Net income $ 197 <PAGE>
Exhibit A
Page 24 of 52
TECO INVESTMENTS, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period $ 736
Add
Net income 197
933
Deduct
Cash dividends on capital stock
Common 222
Balance, end of period $ 711 <PAGE>
Exhibit A
Page 25 of 52
TECO FINANCE, INC.
BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 387
Receivables, less allowance for uncollectibles 215,373
Prepayments 1,373
$217,133 <PAGE>
Exhibit A
Page 26 of 52
TECO FINANCE, INC.
BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Long-term debt due within one year $ 21,000
Notes payable 239,300
Accounts payable 13,923
Interest accrued 445
Taxes accrued (1,451)
273,217
Long-term debt, less amount due within one year 9,000
Common stock 100
Retained earnings (65,184)
$217,133 <PAGE>
Exhibit A
Page 27 of 52
TECO FINANCE, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $ 1,952
Expenses
Operation 2,045
Depreciation -
2,045
Income before interest & income taxes (93)
Interest expense 16,344
Income before provision for income taxes (16,437)
Provision for income taxes (6,340)
Net income ($10,097)<PAGE>
Exhibit A
Page 28 of 52
TECO FINANCE, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period ($55,087)
Add
Net income (10,097)
(65,184)
Deduct
Cash dividends on capital stock
Common -
Balance, end of period ($65,184)<PAGE>
Exhibit A
Page 29 of 52
PEOPLES GAS COMPANY
BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 235
Receivables, less allowance for uncollectibles 3,414
Materials and supplies 1,063
Prepayments 65
4,777
Property, plant and equipment, at original cost
Other property 51,134
Less accum. Deprec. 18,872
32,262
Other assets
Deferred charges & other assets 36
$ 37,075 <PAGE>
Exhibit A
Page 30 of 52
PEOPLES GAS COMPANY
BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ -
Accounts payable 11,783
Customer deposits 742
Interest accrued 2
Taxes accrued 509
13,036
Deferred income taxes 7,778
Other 153
Common stock 5,053
Retained earnings 11,055
$ 37,075 <PAGE>
Exhibit A
Page 31 of 52
PEOPLES GAS COMPANY
INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $30,500
Expenses
Cost of goods sold 12,204
Operation 10,126
Maintenance 427
Taxes other than income 886
Depreciation 2,855
26,498
Income from operations 4,002
Other income (458)
Income before interest and income taxes 3,544
Interest expense 20
Provision for income taxes 1,351
Net income $ 2,173 <PAGE>
Exhibit A
Page 32 of 52
PEOPLES GAS COMPANY
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period $ 9,239
Add
Griffis merger (1) 1,613
Net income 2,173
13,025
Deduct
Cash dividends on capital stock
Common 1,970
Balance, end of period $11,055
1. In January 1998, TECO Energy acquired Griffis, Inc. In a stock-for-stock
merger transaction that was accounted for as a pooling of interests. The
acquired company operates as part of Peoples Gas Company.<PAGE>
Exhibit A
Page 33 of 52
PEOPLES SALES AND SERVICE COMPANY
BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 511
Receivables, less allowance for uncollectibles 1,389
Materials and supplies 772
Prepayments 16
2,688
Property, plant and equipment, at original cost
Other property -
Less accum. Deprec. -
-
Other assets
Deferred charges & other assets 519
$3,207 <PAGE>
Exhibit A
Page 34 of 52
PEOPLES SALES AND SERVICE COMPANY
BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ -
Accounts payable 924
Taxes accrued 137
1,061
Deferred income taxes 11
Other 612
Common stock 251
Retained earnings 1,272
$3,207 <PAGE>
Exhibit A
Page 35 of 52
PEOPLES SALES AND SERVICE COMPANY
INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $11,573
Expenses
Cost of product sold 2,850
Operation 10,167
Taxes other than income 5
Depreciation 2
13,024
Income from operations (1,451)
Other Income 6
Income before provision for income taxes (1,445)
Provision for income taxes (558)
Net income $ (887)<PAGE>
Exhibit A
Page 36 of 52
PEOPLES SALES AND SERVICE COMPANY
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period $ 2,159
Add
Net income (887)
1,272
Deduct
Cash dividends on capital stock
Common -
Balance, end of period $ 1,272 <PAGE>
Exhibit A
Page 37 of 52
TECO GAS SERVICES, INC.
BALANCE SHEET
December 31, 1998
(thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents $ 339
Receivables, less allowance for uncollectibles 2,224
Materials and supplies -
Prepayments -
2,563
Property, plant and equipment, at original cost
Other property 43
Less accum. Deprec. 17
26
Other assets
Deferred charges & other assets -
$ 2,589 <PAGE>
Exhibit A
Page 38 of 52
TECO GAS SERVICES, INC.
BALANCE SHEET
December 31, 1998
(thousands of dollars)
LIABILITIES AND CAPITAL
Current liabilities
Notes payable $ -
Accounts payable 281
Taxes accrued 100
381
Deferred income taxes 4
Other -
Common stock 1
Retained earnings 2,203
$ 2,589 <PAGE>
Exhibit A
Page 39 of 52
TECO GAS SERVICES, INC.
INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Revenues $ 9,295
Expenses
Cost of product sold 6,581
Operation 286
Taxes other than income 8
Depreciation 4
6,879
Income before provision for income taxes 2,416
Provision for income taxes 932
Net income $ 1,484 <PAGE>
Exhibit A
Page 40 of 52
TECO GAS SERVICES, INC.
STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Balance, beginning of period $ 2,188
Add
Net income 1,484
3,672
Deduct
Cash dividends on capital stock
Common 1,469
Balance, end of period $ 2,203 <PAGE>
Exhibit A
Page 41 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
December 31, 1998
(thousands of dollars)
<CAPTION>
TPS Int l TPS TPS Hardee
TECO Power Power Holdings Guatemala Power
ASSETS (parent only) (parent only) Inc. One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash
equivalents $ 23 $ 431 $ 1 $ 2,964 $ 3,631 $ 2,476
Receivables 32,331 1,378 - 86 2,009 7,766
Inventories at average
cost
Fuel - - - - - 1,239
Materials and
supplies - - - - 664 2,558
Prepayments 76 - - 141 388 193
32,430 1,809 1 3,191 6,692 14,232
Investment in
subsidiaries 183,723 125,710 - 6,220 - -
Property, plant &
equipment, at
original cost
Plant in service - - - - 41,946 206,825
Other property 2,716 - - - 286 -
2,716 - - - 42,232 206,825
Less accum. deprec. (591) - - - (5,334) (36,985)
2,125 - - - 36,898 169,840
Other assets
Notes Receivable 18,723 - - 13,750 - -
Deferred charges &
other assets 843 24 - 1,903 4,678 3,538
$237,844 $127,543 $ 1 $ 25,064 $ 48,268 $187,610 <PAGE>
</TABLE>
Exhibit A
Page 42 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET (Continued)
December 31, 1998
(thousands of dollars)
Hardee Hardee TPS Pasco TPS San TPS
ASSETS Power I Power II Operation Power Jose Operaciones
<S> <C> <C> <C> <C> <C> <C>
Current assets
Cash and cash
equivalents $ - $ - $ 1,242 $ 2 $ 926 $ 249
Receivables 4,248 12,546 507 2 - 106
Inventories at average
cost
Fuel - - - - - -
Materials and
supplies - - - - - -
Prepayments - - (2) - - -
4,248 12,546 1,747 4 926 355
Investment in
subsidiaries 11,291 (1) 34,070 - - 17,862 -
Property, plant &
equipment, at
original cost
Plant in service - - - - - -
Other property - - - - - 22
- - - - - 22
Less accum. deprec. - - - - - (1)
- - - - - 21
Other assets
Notes Receivable - - - - - -
Deferred charges &
other assets - - - 6 - 10
$ 15,539 $ 46,616 $ 1,747 $ 10 $ 18,788 $ 386
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 47 through 52.<PAGE>
</TABLE>
Exhibit A
<TABLE>
Page 43 of 52
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET (Continued)
December 31, 1998
(thousands of dollars)
<CAPTION>
TPS TPS de Elimin- TECO Power
ASSETS Administraciones Ultramar ations (Consolidated)
<S> <C> <C> <C> <C>
Current assets
Cash and cash
equivalents $ 205 $ 50 $ - $ 12,200
Receivables 179 - (50,650) 10,508
Inventories at average
cost
Fuel - - - 1,239
Materials and
supplies - - - 3,222
Prepayments - 420 - 1,216
384 470 (50,650) 28,385
Investment in
subsidiaries - 102,453 (335,988) 145,341
Property, plant &
equipment, at
original cost
Plant in service - - - 248,771
Other property 83 - - 3,107
83 - - 251,878
Less accum. deprec. (5) - - (42,916)
78 - - 208 962
Other assets
Notes Receivable - - (13,750) 18,723
Deferred charges &
other assets (6) 480 - 11,476
$ 456 $ 103,403 $(400,388) $ 412,887 <PAGE>
</TABLE>
Exhibit A
Page 44 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
December 31, 1998
(thousands of dollars)
<CAPTION>
TPS Int'l TPS TPS Hardee
LIABILITIES AND TECO Power Power Holdings Guatemala Power
CAPITAL (parent only)(parent only) Inc. One TCAE Partners
Current Liabilities
<S> <C> <C> <C> <C> <C> <C>
Long-term debt due
within one year $ - $ - $ - $ - $ 2,442 $ 5,945
Accounts payable 169,559 3,090 - 22,709 (1,044) 2,955
Interest accrued - - - - 189 896
Taxes accrued 782 - - (300) 2,945 -
170,341 3,090 - 22,409 4,532 9,796
Deferred income taxes (2,230) - - (68) (668) -
Other deferred credits 7 - - - 2,466 513
Sub debt - TECO Finance - - - - 13,750 -
Notes Payable 13,750 - - - - -
Long-term debt, less
amount due within one
year - - - - 21,975 131,940
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 -
Partners capital - TPSIP - - - - - -
Minority Interests - - - - - -
Common stock 52,341 123,483 1 1 - -
Retained earnings 3,635 970 - 2,722 5,022 1,469
$237,844 $ 127,543 $ 1 $ 25,064 $ 48,268 $187,610 <PAGE>
</TABLE>
Exhibit A
Page 45 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET (Continued)
December 31, 1998
(thousands of dollars)
<CAPTION>
TCAE
LIABILITIES AND Hardee Hardee TPS Minority Pasco TPS San TPS
CAPITAL Power I Power II Operations Interest Power Jose Operaciones
<S> <C> <C> <C> <C> <C> <C> <C>
Current Liabilities
Long-term debt due
within one year $ - $ - $ - $ - $ - $ - $ -
Accounts payable - - 1,878 (403) 3 - -
Interest accrued - - - - - - -
Taxes accrued 60 180 (132) - - - 34
60 180 1,746 (403) 3 - 34
Deferred income taxes 3,607 10,820 - - - - -
Other deferred credits - - - - - - -
Sub debt - TECO Finance - - - - - - -
Notes Payable - - - - - - -
Long-term debt, less
amount due within one
year - - - - - - -
Partners capital - HPI - - - - - - -
Subordinated debt - HPI - - - - - - -
Partners capital - HPII - - - - - - -
Subordinated debt - HPII - - - - - - -
Partners capital - TPS
Guatemala One - - - (47) - - -
Partners Capital - TPSIP - - - - - - 184
Minority Interests - - - 648 - - -
Common stock 10,973 32,919 1 - 7 18,788 -
Retained earnings 899 2,697 - (198) - - 168
$ 15,539 $ 46,616 $ 1,747 $ - $ 10 $ 18,788 $ 386<PAGE>
</TABLE>
Exhibit A
Page 46 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET (Continued)
December 31, 1998
(thousands of dollars)
<CAPTION>
LIABILITIES AND TPS TPS de Elimin- TECO Power
CAPITAL Administrationes Ultramar ations (Consolidated)
Current Liabilities
<S> <C> <C> <C> <C>
Long-term debt due
within one year $ - $ - $ - $ 8,387
Accounts payable 207 1,110 (39,039) 161,025
Interest accrued - - - 1,085
Taxes accrued 85 - - 3,654
291 1,110 (39,039) 174,151
Deferred income taxes - - - 11,461
Other deferred credits - - - 2,986
Sub debt - TECO Finance - - - 13,750
Notes Payable - - (13,750) -
Long-term debt, less
amount due within one
year - - - 153,915
Partners capital - HPI - - (10,972) -
Subordinated debt - HPI - - (1) -
Partners capital - HPII - - (32,916) -
Subordinated debt - HPII - - (3) -
Partners capital - TPS
Guatemala One - - (1,144) -
Partners capital - TPSIP 80 100,745 (101,009) -
Minority Interests - - - 648
Common stock - - (186,173) 52,341
Retained earnings 84 1,548 (15,381) 3,635
$ 456 $ 103,403 $(400,388) $ 412,887<PAGE>
</TABLE>
Exhibit A
Page 47 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
<CAPTION>
TPS Int l TPS Hardee
TECO Power Power Pasco Guatemala Power
(parent only) (parent only) Power One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Revenues $ 353 $ - $ - $ 4,293 $ 15,427 $ 80,483
Expenses
Operation 6,981 334 1 1,037 2,713 3,231
Maintenance - - - - - 1,006
Fuel - - - - - 21,213
Depreciation 217 - - 460 2,065 6,232
BB4 - pass through - - - - - 23,249
Taxes other than income - - - - 168 2,692
7,198 334 1 1,497 4,946 57,623
Income from operations (6,845) (334) (1) 2,796 10,481 22,860
Other income - - 2 1,951 209 141
Income before interest &
income taxes (6,845) (334) 1 4,747 10,690 23,001
Interest charges
Long-term debt - - - - 4,506 11,154
Other interest expense (221) - - - - (47)
(221) - - - 4,506 11,107
Income before provision
for income taxes (6,625) (334) 1 4,747 6,184 11,894
Provision for income
taxes (2,549) 172 - (407) 1,715 -
Net income $ (4,075) $(506) $ 1 $ 5,154 $ 4,469 $ 11,894<PAGE>
</TABLE>
Exhibit A
Page 48 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT (Continued)
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
Hardee Hardee TPS TPS San TPS
Power I Power II Operations Jose Operaciones
<S> <C> <C> <C> <C> <C>
Revenues $ 2,973 $ 8,921 $ - $ - $ 246
Expenses
Operation - - - - 80
Maintenance - - - - -
Fuel - - - - -
Depreciation - - - - 1
BB4 - pass through - - - - -
Taxes other than income - - - - -
- - - - 81
Income from operations 2,973 8,921 - - 165
Other income - - - - 2
Income before interest &
income taxes 2,973 8,921 - - 167
Interest charges
Long-term debt - - - - -
Other interest expense - - - - -
- - - - -
Income before provision
for income taxes 2,973 8,921 - - 167
Provision for income
taxes 1,147 3,442 - - -
Net income $ 1,826 $ 5,479 $ - $ - $ 167<PAGE>
</TABLE>
Exhibit A
Page 49 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT (Continued)
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
<CAPTION>
TPS TPS de Elimin- TECO Power
Administrationes Ultramar ations (Consolidated)
<S> <C> <C> <C> <C>
Revenues $ 387 $ 1,758 $ (16,187) $ 98,654
Expenses
Operation 295 210 - 14,882
Maintenance - - - 1,006
Fuel - - - 21,213
Depreciation 5 - - 8,980
BB4 - pass through - - - 23,249
Taxes other than income 4 - - 2,864
304 210 - 72,194
Income from operations 83 1,548 (16,187) 26,460
Other income 1 - (2,127) 179
Income before interest &
income taxes 84 1,548 (18,314) 26,639
Interest charges
Long-term debt - - (1,951) 13,709
Other interest expense - - - (268)
- - (1,951) 13,441
Income before provision
for income taxes 84 1,548 (16,363) 13,198
Provision for income
taxes - - - 3,520
Net income $ 84 $ 1,548 $ (16,363) $ 9,678 <PAGE>
</TABLE>
Exhibit A
Page 50 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
<CAPTION>
TPS Int l TPS Hardee
TECO Power Power Pasco Guatemala Power
(parent only) (parent only) Power One TCAE Partners
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning
of period $ 3,090 $ (323) $ - $ 1,664 $ 8,845 $ 2,140
Add: Net income 9,678(1) 1,293(2) 1 5,154 4,469 11,894
12,768 970 1 6,818 13,314 14,034
Deduct:
Cash dividends on
capital stock
Common 9,133 - 1 4,096 8,292 12,565
Balance, end of
period $ 3,635 $ 970 $ - $ 2,722 $ 5,022 $ 1,469
1 Includes $13,753 of TECO Power Service s equity in earnings of subsidiaries.
2 Includes $1,799 of TPS International Power s equity in earnings of subsidiaries.<PAGE>
</TABLE>
Exhibit A
Page 51 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS (Continued)
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
<CAPTION>
TCAE
Hardee Hardee TPS Minority TPS San TPS
Power I Power II Operations Interest Jose Operaciones
<S> <C> <C> <C> <C> <C> <C>
Balance, beginning
of period $ 864 $ 2,592 $ - $(349) $ - $ 1
Add: Net income 1,826 5,479 - 151 - 167
2,690 8,071 - (198) - 168
Deduct:
Cash dividends on
capital stock
Common 1,791 5,374 - - - -
Balance, end of
period $ 899 $ 2,697 $ - $(198) $ - $ 168<PAGE>
</TABLE>
Exhibit A
Page 52 of 52
<TABLE>
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS (Continued)
TWELVE MONTHS ENDED December 31, 1998
(thousands of dollars)
<CAPTION>
TECO
TPS TPS de Elimin- Power
Administrationes Ultramar ations (Consolidated)
<S> <C> <C> <C> <C>
Balance, beginning
of period $ - $ - $ (15,434) $ 3,090
Add: Net income 84 1,548 (32,066) 9,678
84 1,548 (47,500) 12,768
Deduct:
Cash dividends on
capital stock
Common - - 32,119 9,133
Balance, end of
period $ 84 $ 1,548 $ (15,381) $ 3,635<PAGE>
</TABLE>
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
ORGANIZATIONAL CHART
SHOWING THE RELATIONSHIP OF EACH EWG
OR FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES
IN THE HOLDING-COMPANY SYSTEM
TECO Energy
TECO Power
TPS Guatemala One
TCAE (EWG)
TPS International Power
TPS de Ultramar
TPS de Ultramar Guatemala
DECA
EEGSA (foreign utility)
At December 31, 1998:
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.
TECO Energy had a 100-percent ownership interest in
TECO Power.
TECO Power had a 100-percent ownership interest in
TPS International Power.
TPS International Power had a 100-percent ownership
interest in TPS de Ultramar.
TPS de Ultramar had a 99-percent ownership interest
in TPS de Ultramar Guatemala.
TPS International Power had a 1-percent ownership
interest in TPS de Ultramar Guatemala.
TPS de Ultramar Guatemala had a 30-percent ownership
interest in DECA.
DECA had an 80-percent ownership interest in EEGSA.
<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-31-1998
<PERIOD-START> JAN-1-1998
<PERIOD-END> DEC-31-1998
<PERIOD-TYPE> YEAR
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 4,179,256
<TOTAL-OPERATING-REVENUES> 1,958,129 <F1>
<NET-INCOME> 206,521 <F2> <F3>
<FN>
<F1> Includes the recognition of $38.3 million of previously deferred
revenues at Tampa Electric Company.
<F2> Net income form continuing operations was $200.4 million and
includes the effect on one-time non-recurring charges, which
reduced income by $21.3 million.
<F3> Net income includes a $6.1 million after-tax gain from the
disposal of discontinued operations.
</FN>
<PAGE>
</TABLE>
