TECO Energy

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TECO Energy
Public company
Traded as NYSETE
S&P 500 Component
Industry Energy
Founded 1899
Headquarters Tampa, Florida, United States
Key people
John B. Ramil, President & CEO
Revenue
  • Increase US$ 2,566.4 million (2014) [1]
  • Decrease US$ 2,355.1 million (2013) [1]
  • Increase US$ 206.4 million (2014) [1]
  • Decrease US$ 188.7 million (2013) [1]
Total assets
  • Increase US$ 8,726.2 million (2014) [1]
  • Increase US$ 7,448.0 million (2013) [1]
Total equity
  • Increase US$ 2,333.7 million (2013) [1]
  • Increase US$ 2,291.8 million (2012) [1]
Number of employees
4,300 [2]
Website www.tecoenergy.com

TECO Energy Inc.(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 (no relation to the Chicago-based company of the same name), TECO Energy businesses include New Mexico Gas Company (the former gas division of Public Service Company of New Mexico acquired by TECO Energy in 2014].[3] ). TECO's three utilities serve a total of 1.6 million customers in Florida and New Mexico.[4]

In 2012, TECO exited its business in Guatemala.[5]

On September 4, 2015, Emera, a utility holding company based in Halifax, Nova Scotia, Canada, announced the pending acquisition of TECO Energy; the deal is expected to close by mid-2016.[6]

On September 21, TECO exited its TECO Coal business. [7]

Environmental Record

Researchers at the University of Massachusetts Amherst in 2006 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.[8] Major pollutants indicated by the study included hydrochloric acid, sulfuric acid, chromium compounds, arsenic compounds, and nickel compounds.[9]

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.[10]

TECO Energy completed a $330 million emissions control project in 2010, which made one of its power stations one of the cleanest coal-fired power plants in nation. The renovation reduced nitrogen oxide emissions at the plant by approximately 91 percent from levels recorded in 1998.[11]

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, reducing sulfur dioxide and nitrogen oxide emissions by more than 91 percent and carbon dioxide levels by 20 percent from 1998 levels.[12]

See also

References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 "TECO ENERGY INC 2014 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 27, 2015.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles> Cite error: Invalid <ref> tag; name "xbrlus_1" defined multiple times with different content
  2. http://finance.yahoo.com/q/pr?s=TE
  3. Penn, Ivan (2013-05-28). "TECO Energy acquires New Mexico natural gas company". Tampa Bay Times. Retrieved 2015-02-14.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  4. TECO Energy, Inc. 2014 Annual Report
  5. "TECO sells Guatemala power plants, exits international business". Tampa Bay Times. Retrieved 2015-02-14.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  6. Tampa Bay Times: "Tampa Electric announces its sale to Canadian company Emera", September 4, 2015.
  7. http://www.platts.com/latest-news/electric-power/houston/teco-energy-sells-coal-mining-assets-to-booth-21422509
  8. Political Economy Research Institute Toxic 100 (Study released May 11, 2006) retrieved 15 August 2007
  9. Toxics Release Inventory courtesy rtknet.org
  10. TECO energy agrees to $3.5 mln fine with US EPA (released 3 Mar 2000) retrieved 6 May 2008
  11. Tampa Electric Completes First Phase of a $330 Million Air Pollution Control Project (released 5 Jun 2007) retrieved 6 May 2008
  12. TECO Energy leaders to participate in climate change summit (released 11 Jul 2007) retrieved 8 May 2008

External links