Tampa Electric Company (TECO) helps to illuminate the sunshine state when the sun is not shining. The company transmits and distributes electricity in a 2,000-square mile service territory in West Central Florida (including Tampa). Its Tampa Electric division provides electric service to more than 678,000 customers and has a generating capacity of about 4,700 MW. The TECO Energy subsidiary also operates four fossil-fueled power plants and distributes natural gas to 340,000 customers through its Peoples Gas unit. Other services include residential surge protection and the trimming of trees interfering with power lines.
Tampa Electric serves nearly customers in West Central Florida. Its West Central Florida service area includes all of Hillsborough County and parts of Pasco, Pinellas, and Polk counties. Peoples Gas System has operations in Florida's major metropolitan areas.
Tampa Electric has two business segments. Its Tampa Electric division provides retail electric service. Peoples Gas System, the gas division of Tampa Electric Company, is engaged in the purchase, distribution and sale of natural gas for residential, commercial, industrial and electric power generation customers.
Revenues decreased by 8% in 2011 as the company's generation declined in line with lower energy sales due to a mild winter and wet summer.
Net income decreased by 3% in 2011 due to the drop in revenues and an increase in depreciation and amortization expenses, reflecting the costs of plant additions.
To help reduce the need for building more fossil-fuel power generation plants, Tampa Electric is partnering with customers to help them be more efficient in their energy use. It offers its customers 12 residential and 16 commercial energy efficiency programs.
The company is also investing heavily in reducing toxic emissions at its fossil-fuel fired power plants. In 2010 it completed a decade-long, $1.2 billion program that installed scrubbing equipment which reduces nitrogen oxide emissions at all four of its Big Bend Power Station units.
The company is a subsidiary of TECO Energy.
Tampa Electric was founded in 1899 and was reincorporated in 1949.