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):
July 5, 1994
TAMPA ELECTRIC COMPANY
(Exact name of registrant as specified in its charter)
FLORIDA 1-5007 59-0475140
(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 of 10<PAGE>
Item 5. Other Events
See the Press Release dated July 5, 1994, filed as Exhibit
99.1 and incorporated herein by reference, describing action of
the Florida Public Service Commission regarding the 1994
regulatory rate of return on common equity of the registrant.
See the Press Release dated July 19, 1994, filed as
Exhibit 99.2 and incorporated herein by reference, describing
changes in the management of the registrant. In addition,
Girard F. Anderson has been elected a director of the registrant.
Page 2 of 10<PAGE>
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated July 5, 1994.
99.2 Press Release dated July 19, 1994.
Page 3 of 10<PAGE>
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: July 20, 1994 Tampa Electric Company
By:/s/ L. L. Lefler
L. L. Lefler
Vice President-
Controller
(Chief Accounting
Officer)
Page 4 of 10<PAGE>
INDEX TO EXHIBITS
Exhibit No. Description of Exhibits Page No.
99.1 Press Release dated July 5, 1994 6
99.2 Press Release dated July 19, 1994 8
Page 5 of 10<PAGE>
(Tampa Electric Company Letterhead)
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact: Mitch Lubitz
Office: 813/228-4281
Home: 813/521-1202
PSC sets ROE cap for Tampa Electric
TAMPA, July 5, 1994 -- The Florida Public Service
Commission today took action to cap Tampa Electric's 1994
regulatory rate of return on common equity (ROE) at 12.45
percent, and left unchanged the company's authorized ROE.
In February, the commission set Tampa Electric's
authorized ROE at a midpoint of 11.35 percent with a range
of 10.35 percent to 12.35 percent.
With respect to 1994 only, the PSC approved, with
slight modification, a proposal by the commission staff and
Tampa Electric to provide that any regulatory return above
12.45 percent ROE would be used to increase Tampa Electric's
storm damage reserve for its transmission and distribution
facilities. Any amounts in excess of this requirement and
this return would be refunded to Tampa Electric customers.
The commission will determine the appropriate amount of
the storm damage reserve later this year. The self-insurance
storm reserve was created as a result of the unavailability
of private storm insurance in the state after Hurricane
Andrew severely damaged T&D facilities in 1992.
The commission's proposed agency action today is
expected to become final 21 days after the publication of
its written order, unless a party asks for a hearing.
-more-
Page 6 of 7<PAGE>
RETURN ON EQUITY -- 2
Tampa Electric is the largest subsidiary of TECO
Energy, a diversified energy-related holding company
headquartered in Tampa. Besides Tampa Electric, its
principal businesses are TECO Transport & Trade, TECO Coal,
TECO Coalbed Methane and TECO Power Services.
-30-
Page 7 of 7<PAGE>
(TECO Energy, Inc. Letterhead)
Exhibit 99.2
FOR IMMEDIATE RELEASE
Contact: Mike Mahoney
Office: (813) 228-4271
Home: (813) 961-9456
TECO ENERGY PROMOTES TWO TOP EXECUTIVES,
ELECTS ANDERSON TO BOARD OF DIRECTORS
TAMPA, July 19, 1994 -- Girard F. Anderson, president of
Tampa Electric Company, has been elected president and chief
operating officer of TECO Energy, Inc., and a member of the
company's board of directors, it was announced today by Timothy
L. Guzzle, chairman and chief executive officer.
In addition, Keith S. Surgenor, TECO Energy's vice
president-human resources, has been named to succeed Anderson as
president and chief operating officer of Tampa Electric, TECO
Energy's largest subsidiary.
Guzzle, who previously held the title of president of TECO
Energy, said Surgenor would report to Anderson, along with the
presidents of the company's subsidiaries in transportation,
coalbed methane gas production, coal mining, independent power
and real estate. The company's financial, legal, human
resources, strategic planning and business development functions
will all continue to report directly to Guzzle.
(more)
Page 8 of 10<PAGE>
TECO Energy--2
"Jerry Anderson's involvement in the operations of all our
businesses, including Tampa Electric, will strengthen our
management effort. And, we are giving Keith Surgenor, who has
been actively involved in Tampa Electric's planning and
operations, greater responsibility as chief operating officer for
all utility operations," he said.
Guzzle said that with Anderson and Surgenor helping to
conduct day-to-day operations he would have more time to focus on
"opportunities that are strategic for the continued development
and growth of TECO Energy."
"These appointments also put the company in a better
position to deal with any health contingency on my part," he
said, pointing out that he had been treated for colon cancer last
year. "My condition continues to be monitored and treated as
needed, and the prognosis continues to be optimistic."
Guzzle himself joined TECO Energy in 1988 as president and
chief operating officer. In 1989 he assumed the responsibilities
of chief executive officer and in 1991 was elected board
chairman.
Jerry Anderson has served as president of Tampa Electric
since 1987 and was named by the board to the additional post of
executive vice president-utility operations of TECO Energy later
that same year.
(more) <PAGE>
TECO Energy--3
Anderson, 62, began his career with Tampa Electric in 1959
as a student engineer. He held various production management
jobs through the years and in 1980 was elected vice president of
production operations and maintenance. In 1985 he became senior
vice president of Power Distribution responsible for customer
services, system engineering and transmission and distribution
operations.
He is a long-time resident of Tampa, attended Tampa public
schools and was graduated from the University of Florida.
Keith Surgenor joined the company in 1988 as vice president
of human resources for TECO Energy and Tampa Electric. Before
joining the company he was vice president of Allegheny
International's industrial and technology businesses, with
revenues that exceeded $1 billion, and president and chief
executive officer of Kilgore Corp., a manufacturer of military
signals and flares.
Surgenor, 46, is originally from Kingsport, Tenn. He holds
a bachelor's degree in Industrial Management/Mechanical
Technology from East Tennessee State University and an MBA from
the University of Tennessee. Through the past 20 years he has
held management positions in operations, engineering, human
resources and general management with Eastman Kodak, Rockwell
International and Allegheny International.
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