TECO Energy

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TECO Energy
Type Public company
Traded as NYSETE
S&P 500 Component
Industry Energy
Founded 1899
Headquarters Tampa, Florida
Key people John B. Ramil, President & CEO
Revenue
  • Decrease US$ 2,851.3 million (2013) [1]
  • Decrease US$ 2,996.6 million (2012) [1]
Operating income
  • Decrease US$ 463.7 million (2013) [1]
  • Decrease US$ 556.5 million (2012) [1]
Net income
  • Decrease US$ 197.7 million (2013) [1]
  • Decrease US$ 212.7 million (2012) [1]
Total assets
  • Increase US$ 7,448.0 million (2013) [2]
  • Increase US$ 7,334.9 million (2012) [1]
Total equity
  • Increase US$ 2,333.7 million (2013) [1]
  • Increase US$ 2,291.8 million (2012) [1]
Employees 4,300 [3]
Website www.tecoenergy.com

TECO Energy Inc., also known as Tampa Electric, (NYSETE) is an S&P 500 energy-related company based in Tampa, Florida. In addition to the regulated Florida operations of Tampa Electric and Peoples Gas, TECO Energy businesses are engaged in coal production at TECO Coal in Kentucky and Virginia and electric power generation and related businesses at TECO Guatemala. TECO has about 687,000 customers.[4]

Environmental Record[edit]

Researchers at the University of Massachusetts Amherst have identified TECO Energy as the 37th-largest corporate producer of air pollution in the United States, with roughly 11 million pounds of toxic chemicals released annually into the air.[5] Major pollutants indicated by the study include hydrochloric acid, sulfuric acid, chromium compounds, arsenic compounds, and nickel compounds.[6]

In 2000, TECO Energy was fined $3.5 million for making changes to emissions producing facilities without installing new updated pollution controls. This led to the switch from coal to natural gas in one of its plants by 2004 and optimization of pollution controls in another. These changes were enacted to drastically cut harmful emissions, notably sulfur dioxide and nitrogen oxide pollutants.[7]

TECO Energy proposed a $330 million emissions control project, which will make one of its power stations one of the cleanest coal-fired power plants in nation. The renovation is set to be completed in 2010 and will reduce nitrogen oxide emissions at the plant by approximately 85 percent from levels recorded in 1998.[8]

Since 1998, TECO has invested $1.2 billion in improvements to their systems, including the repowering of one coal-fired station to natural gas and the addition of pollution controls on a second.[9]

See also[edit]

References[edit]

  1. ^ a b c d e f g h i "TECO ENERGY INC 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 28, 2014. 
  2. ^ "TECO ENERGY INC 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. May 2, 2014. 
  3. ^ http://finance.yahoo.com/q/pr?s=TE
  4. ^ Energy Companies in Florida August 2013 Florida Trend page 44
  5. ^ Political Economy Research Institute Toxic 100 (Study released May 11, 2006) retrieved 15 August 2007
  6. ^ Toxics Release Inventory courtesy rtknet.org
  7. ^ TECO energy agrees to $3.5 mln fine with US EPA (released 3 Mar 2000) retrieved 6 May 2008
  8. ^ Tampa Electric Completes First Phase of a $330 Million Air Pollution Control Project (released 5 Jun 2007) retrieved 6 May 2008
  9. ^ TECO Energy leaders to participate in climate change summit (released 11 Jul 2007) retrieved 8 May 2008

External links[edit]