TECO Energy Reports First-Quarter Results

  TECO Energy Reports First-Quarter Results

Company maintains 2013 earnings-per-share guidance from continuing operations
                      in a range between $0.90 and $1.00

Business Wire

TAMPA, Fla. -- April 30, 2013

TECO Energy, Inc. (NYSE:TE) today reported first-quarter 2013 net income of
$41.5 million, or $0.19 per share, compared with $50.5 million, or $0.24 per
share, in the first quarter of 2012. Net income from continuing operations was
$41.2 million, or $0.19 per share, in the 2013 first quarter, compared with
$44.6 million, or $0.21 per share, for the same period in 2012. The 2013
first-quarter net income of $0.3 million reported in discontinued operations
was related to the TECO Guatemala sale transaction.

TECO Energy President and Chief Executive Officer John Ramil said, “We are off
to a good start for 2013, and our results this quarter position us well for
the remainder of the year despite another mild winter in Florida. The
utilities are benefiting from continued improvements in the state and local
economies, and TECO Coal is operating profitably even in a weak market, with a
strong focus on margins and cost control.”

Ramil went on to say, “Tampa Electric has filed its full base rate increase
request with the Florida Public Service Commission, and we look forward to
working with the commission, its staff and the intervenors to reach a
constructive outcome.”

Segment Reporting

The table below includes TECO Energy segment information on a GAAP basis,
which includes all charges and gains for the periods shown.

Segment Information              3 months               12 months
                                                      
(millions)                        ended Mar. 31          ended Mar. 31
Net Income Summary                  2013      2012       2013       2012
Tampa Electric                    $ 31.8     $ 31.4      $ 193.5     $ 202.5
Peoples Gas System                  13.8       11.0        36.9        28.9
TECO Coal                           3.0        9.8         43.4        53.2
Parent & other                     (7.4 )    (7.6 )     (31.1 )    (34.6 )
Net income from continuing          41.2       44.6        242.7       250.0
operations
Discontinued operations            0.3      5.9       (39.0 )    21.4  
Total net income attributable     $ 41.5    $ 50.5     $ 203.7    $ 271.4 
to TECO Energy


All amounts included in the operating company discussions below are after tax,
unless otherwise noted.

Tampa Electric

Tampa Electric’s net income for the first quarter of 2013 was $31.8 million,
compared with $31.4 million for the same period in 2012. Results for the
quarter reflected a 1.4% higher average number of customers, lower base
revenues due to milder weather than in 2012, lower interest expense, and
higher depreciation and operations and maintenance expenses. First-quarter net
income in 2013 included $1.1 million of Allowance for Funds Used During
Construction (AFUDC) equity, which represents allowed equity cost capitalized
to construction costs, compared with $0.4 million in the 2012 quarter.

Total degree days in Tampa Electric's service area in the first quarter of
2013 were 9% below normal, and 16% below the same period in 2012, resulting in
pretax base revenue approximately $4.0 million lower than in 2012. Total net
energy for load, which is a calendar measurement of retail energy sales rather
than a billing-cycle measurement, decreased 3.7% in the first quarter of 2013,
compared with the same period in 2012. The quarterly energy sales shown on the
statistical summary that accompanies this earnings release reflect the energy
sales based on the timing of billing cycles, which can vary period to period.
While residential sales in 2013 were similar to 2012 levels, sales to
commercial customers decreased in the first quarter of 2013 due to
cooler-than-normal weather in March. Commercial customers are more sensitive
to air conditioning load, which was higher in the first quarter of 2012 than
in the 2013 period. Sales for resale decreased due to the expiration of
several wholesale contracts.

Operations and maintenance expense, excluding all Florida Public Service
Commission (FPSC)-approved cost-recovery clauses, increased $2.1 million in
the 2013 quarter, reflecting primarily higher pension and other employee
benefit expenses, partially offset by lower costs due to the timing of
generating unit outage expenditures. Depreciation and amortization expense
increased $1.0 million in 2013 due to additions to facilities to serve
customers, partially offset by a $1.0 million adjustment to depreciation
expense related to combustion turbine repairs. Interest expense decreased $4.0
million due to lower long-term debt interest rates and balances and a lower
interest rate on customer deposits.

Peoples Gas

Peoples Gas System reported net income of $13.8 million for the quarter,
compared with $11.0 million in 2012. First-quarter results in 2013 reflected
customer growth of 1.3% and higher therm sales to all retail customer classes.
Therms sold to commercial and interruptible industrial customers increased due
to improving economic conditions. Non-fuel operations and maintenance expense
decreased $0.8 million compared to the 2012 period, primarily due to
higher-than-normal self-insurance expenses in 2012. Interest expense decreased
slightly due to lower long-term debt interest rates and a lower interest rate
on customer deposits.

TECO Coal

TECO Coal reported first-quarter net income of $3.0 million on sales of 1.3
million tons, compared with $9.8 million on sales of 1.4 million tons in the
same period in 2012. In 2013, first-quarter results reflect an average net
per-ton selling price, excluding transportation allowances, of almost $90 per
ton, which included higher priced carry-over tons from 2012, compared to an
average selling price of almost $96 per ton in 2012. In the first quarter of
2013, the all-in total per-ton cost of sales was almost $88, which is higher
than full-year guidance. The cost of sales in January and February included
some higher-cost tons from December inventory that included costs associated
with personnel reductions and with idling certain mining operations. The cost
of sales in March was in line with full year 2013 cost guidance. Due to the
effects of tax percentage depletion, TECO Coal's effective income tax rate in
the first quarter of 2013 was essentially zero, compared with 24% in the 2012
period.

Parent & other

The cost for Parent & other in continuing operations in the first quarter of
2013 was $7.4 million, compared with a cost of $7.6 million in the same period
in 2012. The cost for the 2013 quarter included slightly lower interest
expense due to the repayment of $8.8 million of parent debt in 2012 and
certain favorable tax adjustments recorded at Parent.

The total cost for Parent & other for the first quarter of 2013 was $7.1
million, compared with $8.3 million for the 2012 period. Total cost for the
2013 first quarter reflected a $0.3 million benefit at Parent related to the
sale of TECO Guatemala in 2012, which were recorded as discontinued
operations.

2013 Guidance

TECO Energy is maintaining its earnings-per-share guidance for 2013 in a range
between $0.90 and $1.00. TECO Energy expects earnings in 2013 to be driven by
the factors discussed below.

At Tampa Electric, full-year customer growth of 1.2% is anticipated in 2013,
but total retail energy sales growth is expected to be lower than customer
growth due to lower average customer usage. Sales to the lower margin
industrial-phosphate customers are expected to be lower in 2013 due to
increased self-generation following outages of customers’ generating equipment
that increased sales to these customers in 2012. Operations and maintenance
expenses are expected to increase in 2013 due to increased expenses to operate
the system and reliably serve customers and higher employee-related expenses.
Pension expense is expected to increase driven by discount rate assumptions in
the current low-interest rate environment. In 2013, Tampa Electric expects its
full-year thirteen-month average return on equity (ROE) to be less than 9%.

Peoples Gas expects to continue to earn above the middle of its allowed ROE
range of 9.75% to 11.75% from moderate customer growth, which is expected to
continue in 2013 in line with the trends experienced in 2012, and continued
focus on cost management. It also expects to benefit from continued interest
from customers utilizing petroleum and other fuel sources to convert to
natural gas due to the attractive economics.

TECO Coal now has almost 95% of its expected sales of between 5.2 million and
5.7 million tons contracted for 2013. The product mix is expected to be about
50% specialty coals, which include stoker, metallurgical and PCI coals, and
the remainder utility steam coal. The average selling price across all
products is expected to be more than $86 per ton. All of the 2.7 million tons
of steam coal sales planned for 2013 are committed and priced. The all-in
total cost of production is still expected to be in a range between $81 and
$85 per ton, due to actions taken in 2012 to reduce mining costs and lower
royalty payments and severance taxes, which are a function of selling price.
Because of the zero effective tax rate in the first quarter, TECO Coal’s
full-year 2013 effective income tax rate is expected to be less than the
previously forecast 25%.

Webcast

As previously announced, TECO Energy will host a webcast with the investment
community to discuss its first-quarter results and 2013 outlook at 5:00 pm
Eastern time, Tuesday, April 30, 2013. The webcast will be accessible through
the link on TECO Energy’s website: www.tecoenergy.com. The webcast and
accompanying slides will be available for replay for 30 days through the
website, beginning approximately two hours after the conclusion of the live
event.

TECO Energy, Inc. (NYSE: TE) is an energy-related holding company. Its
principal subsidiary, Tampa Electric Company, is a regulated utility in
Florida with both electric and gas divisions (Tampa Electric and Peoples Gas
System). Its other major subsidiary, TECO Coal, owns and operates coal
production facilities in Kentucky and Virginia.

Note: This press release contains forward-looking statements, which are
subject to the inherent uncertainties in predicting future results and
conditions. Actual results may differ materially from those forecasted. The
forecasted results are based on the company's current expectations and
assumptions, and the company does not undertake to update that information or
any other information contained in this press release, except as may be
required by law. Factors that could impact actual results include: regulatory
actions by federal, state or local authorities; unexpected capital needs or
unanticipated reductions in cash flow that affect liquidity; the ability to
access the capital and credit markets when required; general economic
conditions affecting energy sales at the utility companies; economic
conditions, both national and international, affecting the Florida economy and
demand for TECO Coal’s production; costs for alternative fuels used for power
generation affecting demand for TECO Coal’s thermal coal production; weather
variations and changes in customer energy usage patterns affecting sales and
operating costs at Tampa Electric and Peoples Gas and the effect of extreme
weather conditions or hurricanes; general operating conditions; input
commodity prices affecting cost at all of the operating companies; operating
cost and environmental or safety regulations affecting the production levels
and margins at TECO Coal; fuel cost recoveries and related cash at the
utilities; natural gas demand at Peoples Gas; and the ability of TECO Energy's
subsidiaries to operate equipment without undue accidents, breakdowns or
failures. Additional information is contained under "Risk Factors" in TECO
Energy, Inc.'s Annual Report on Form 10-K for the period ended Dec. 31, 2012.

Summary Information (as of Mar. 31, 2013)
                                 Three Months         Twelve Months
                                                    
                                  Ended                Ended
(millions except per share                                       
amounts)
                                    2013      2012       2013          2012
Revenues                          $ 661.1   $ 697.1    $ 2,960.6    $ 3,144.5
Net income from continuing        $ 41.2    $ 44.6     $ 242.7       $ 250.0
operations
Net income from discontinued
operations attributable to TECO    0.3      5.9       (39.0   )    21.4
Energy
Net income attributable to TECO   $ 41.5    $ 50.5     $ 203.7      $ 271.4
Energy
                                                                     
Earnings per share from           $ 0.19    $ 0.21     $ 1.12        $ 1.16
continuing operations- basic
Earnings per share from                                            
discontinued operations                                           
attributable to TECO Energy –       --        0.03       (0.18   )     0.10
basic
Total earnings per share
attributable to TECO Energy –     $ 0.19    $ 0.24     $ 0.94       $ 1.26
basic
                                                                     
Total earnings per share –        $ 0.19    $ 0.23     $ 0.94        $ 1.26
diluted
Average common shares               214.6     213.9      214.5         213.8
outstanding – basic
Average common shares               215.6     215.3      215.4         215.1
outstanding – diluted


                                 TECO Energy

                                  MARCH 2013

Figures appearing in these statements are presented as general information and
not in connection with any sale or offer to sell or solicitation of an offer
to buy any securities, nor are they intended as a representation by the
company of the value of its securities. All figures reported are subject to
adjustments as the annual audit by independent accountants may determine to be
necessary and to the explanatory notes affecting income and balance sheet
accounts contained in the company’s Annual Report on Form 10-K. Reference
should also be made to information contained in that and other reports filed
by TECO Energy, Inc. and Tampa Electric Company with the Securities and
Exchange Commission.

TECO ENERGY, Inc.
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(All significant intercompany transactions have been eliminated in the
consolidated financial statements.)

                            Three Months Ended      Twelve Months Ended
                             Mar. 31,                Mar. 31,
(millions except share      2013       2012       2013         2012
data)
                                                                   
Revenues
Regulated electric and gas   $ 539.1     $ 556.4     $ 2,360.1     $ 2,439.1
Unregulated                  122.0    140.7    600.5      705.4   
Total revenues               661.1    697.1    2,960.6    3,144.5 
Expenses
Regulated operations &
maintenance
Fuel                           140.0       157.5       677.2         744.1
Purchased power                14.6        28.2        91.7          127.0
Cost of natural gas sold       49.5        41.6        163.7         170.0
Other                          120.8       112.2       471.1         439.2
Operation & maintenance
other expense
Mining related costs           95.5        103.9       452.7         537.5
Other                          1.3         1.7         7.4           7.4
Depreciation and               82.0        81.2        331.4         320.4
amortization
Taxes, other than income     53.3     56.0     219.6      221.6   
Total expenses               557.0    582.3    2,414.8    2,567.2 
Income from operations       104.1    114.8    545.8      577.3   
Other income (expense)
Allowance for other funds      1.1         0.4         3.3           1.2
used during construction
Other income                   1.6         1.8         9.3           7.7
Loss on debt                 0.0      0.0      (1.3    )   0.0     
extinguishment
Total other income           2.7      2.2      11.3       8.9     
Interest charges
Interest expense               43.0        48.5        179.5         195.7
Allowance for borrowed
funds used during            (0.6  )   (0.2  )   (1.9    )   (0.7    )
construction
Total interest charges       42.4     48.3     177.6      195.0   
Income before provision        64.4        68.7        379.5         391.2
for income taxes
Provision for income taxes   23.2     24.1     136.8      141.2   
Income from continuing         41.2        44.6        242.7         250.0
operations
Discontinued operations
Income (loss) from             0.4         8.4         (18.7   )     32.6
discontinued operations
Provision for income taxes   0.1      2.4      20.1       10.9    
Total discontinued             0.3         6.0         (38.8   )     21.7
operations, net
Less: Income from
discontinued operations      0.0      0.1      0.2        0.3     
attributable to
noncontrolling interest
Income from discontinued
operations attributable to   0.3      5.9      (39.0   )   21.4    
TECO Energy, net
Net income attributable to  $ 41.5    $ 50.5    $ 203.7     $ 271.4   
TECO Energy
                                                                   
                                                                   
Average common shares
outstanding - basic            214.6       213.9       214.5         213.8
(millions)
Average common shares
outstanding - diluted          215.6       215.3       215.4         215.1
(millions)
                                                                   
Earnings per average
common share outstanding:
Earnings per share from
continuing operations --     $ 0.19      $ 0.21      $ 1.12        $ 1.16
basic
Earnings per share from
continuing operations --     $ 0.19      $ 0.20      $ 1.12        $ 1.16
diluted
                                                                   
Earnings per share from
discontinued operations --   $ 0.00      $ 0.03        ($0.18  )   $ 0.10
basic
Earnings per share from
discontinued operations --   $ 0.00      $ 0.03        ($0.18  )   $ 0.10
diluted
                                                                   
Earnings per share
attributable to TECO         $ 0.19      $ 0.24      $ 0.94        $ 1.26
Energy -- basic
Earnings per share
attributable to TECO         $ 0.19      $ 0.23      $ 0.94        $ 1.26
Energy -- diluted


TECO ENERGY, Inc.
CONSOLIDATED BALANCE SHEETS (Unaudited)
(All significant intercompany transactions have been eliminated in the
consolidated financial statements.)

                                       Mar. 31,              Dec. 31,
(millions)                                 2013              2012      
                                                               
Assets
Current assets
Cash and cash equivalents               $    212.9             $  200.5
Receivables                                  269.7                282.7
Inventories at average cost
Fuel                                         146.1                123.6
Materials and supplies                       81.0                 82.1
Derivative assets                            11.8                 0.0
Income tax receivables                       0.0                  0.4
Deferred income taxes                        65.7                 63.3
Prepayments and other current                33.3                 33.9
assets
Regulatory assets                          52.7              70.3      
Total current assets                       873.2             856.8     
Property, plant and equipment
Utility plant in service
Electric                                     6,694.0              6,655.8
Gas                                          1,260.5              1,228.3
Construction work in progress                333.4                336.1
Other property                             443.9             443.8     
Property plant and equipment at              8,731.8              8,664.0
original cost
Accumulated depreciation                   (2,754.5   )       (2,695.5  )
Total property, plant and                  5,977.3           5,968.5   
equipment, net
Other assets
Regulatory assets                            377.4                382.6
Derivative assets                            1.0                  0.2
Deferred charges and other assets          124.9             126.8     
Total other assets                         503.3             509.6     
Total assets                           $    7,353.8         $  7,334.9   
                                                               
Liabilities and capital
Current liabilities
Accounts payable                        $    207.8             $  232.8
Other current liabilities                    20.0                 19.9
Customer deposits                            163.9                162.9
Derivative liabilities                       0.9                  14.6
Interest accrued                             55.3                 33.2
Taxes accrued                                48.3                 32.1
Regulatory liabilities                     118.3             105.6     
Total current liabilities                  614.5             601.1     
Other liabilities
Deferred income taxes                        304.8                277.9
Investment tax credits                       9.6                  9.7
Regulatory liabilities                       622.5                631.4
Derivative liabilities                       0.3                  0.6
Deferred credits and other                   535.9                549.7
liabilities
Long-term debt, less amount due within one year
Recourse                                   2,972.7           2,972.7   
Total other liabilities                    4,445.8           4,442.0   
Total liabilities                            5,060.3              5,043.1
Capital
Common equity                                217.5                216.6
Additional paid in capital                   1,570.4              1,564.5
Retained earnings                            535.5                541.7
Accumulated other comprehensive            (29.9      )       (31.0     )
(loss)
Total capital                              2,293.5           2,291.8   
Total liabilities and capital          $    7,353.8         $  7,334.9   
                                                               
Book Value Per Share                    $    10.54             $  10.58


TECO ENERGY, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(All significant intercompany transactions have been eliminated in the
consolidated financial statements.)

                            Three Months Ended       Twelve Months Ended
                             Mar. 31,                  Mar. 31,
(millions)                   2013      2012      2013      2012   
                                                                 
Cash flows from operating
activities
Net income attributable to   $ 41.5       $ 50.5       $ 203.7      $ 271.4
TECO Energy
                                                                    
Adjustments to reconcile
net income to net cash
from operating activities:
Depreciation and               82.0         83.0         336.6        327.8
amortization
Deferred income taxes          23.4         24.8         135.4        143.6
Investment tax credits         (0.1   )     0.0          (0.3   )     (0.4   )
Allowance for other funds      (1.1   )     (0.4   )     (3.3   )     (1.2   )
used during construction
Non-cash stock                 3.6          2.5          13.1         9.6
compensation
Loss (gain) on sales of        (0.2   )     0.0          18.3         (0.4   )
business / assets, pretax
Deferred recovery clause       4.5          (20.5  )     17.2         (56.5  )
Asset impairment, pretax       0.0          0.0          16.1         0.0
Receivables, less
allowance for                  13.0         49.3         1.3          19.0
uncollectibles
Inventories                    (21.4  )     (9.5   )     (14.3  )     10.0
Prepayments and other          0.6          2.2          (3.5   )     (2.5   )
current assets
Taxes accrued                  15.8         13.9         14.0         (1.4   )
Interest accrued               22.1         20.6         (4.4   )     (1.0   )
Accounts payable               (25.0  )     1.7          (27.9  )     10.2
Other                        (0.8   )   5.8       (11.4  )   20.1   
                            157.9     223.9     690.6     748.3  
                                                                    
Cash flows from investing
activities
Capital expenditures           (103.0 )     (117.4 )     (490.7 )     (478.6 )
Allowance for other funds      1.1          0.4          3.3          1.1
used during construction
Net proceeds from sale of      0.3          0.0          194.7        0.8
business / assets
Restricted cash              0.0       0.0       8.9       0.0    
                            (101.6 )   (117.0 )   (283.8 )   (476.7 )
                                                                    
Cash flows from financing
activities
Dividends                      (47.8  )     (47.5  )     (190.7 )     (186.6 )
Proceeds from sale of          3.9          0.3          7.6          5.5
common stock
Proceeds from long-term        0.0          0.0          538.1        0.0
debt
Repayment of long-term
debt / Purchase in lieu of     0.0          (88.7  )     (561.7 )     (164.4 )
redemption
Dividend to noncontrolling     0.0          0.0          (0.3   )     (0.6   )
interest
Net increase (decrease) in     0.0          44.0         (44.0  )     44.0
short-term debt
Restricted cash              0.0       0.0       (1.9   )   0.0    
                            (43.9  )   (91.9  )   (252.9 )   (302.1 )
                                                                    
Net increase (decrease) in     12.4         15.0         153.9        (30.5  )
cash and cash equivalents
Cash and cash equivalents    200.5     44.0      59.0      89.5   
at beginning of period
Cash and cash equivalents   $ 212.9    $ 59.0     $ 212.9    $ 59.0   
at end of period



TECO ENERGY, Inc.
SEGMENT INFORMATION (Unaudited)


(millions)          Tampa      Peoples  TECO       TECO       Other &       TECO
                  Electric   Gas      Coal       Guatemala  Eliminations  Energy
Three months ended
Mar. 31,
2013   Revenues -   $ 417.8     $ 121.9   $ 117.9     $ --        $  3.5         $ 661.1
       outsiders
       Sales to      0.2       --      --       --        (0.2   )    --      
       affiliates
       Total          418.0       121.9     117.9       --           3.3           661.1
       revenues
       Depreciation
       and            59.0        13.0      9.7         --           0.3           82.0
       amortization
       Total
       interest       23.4        3.4       1.7         --           13.9          42.4
       charges ^(2)
       Allocated
       interest       --          --        1.6         --           (1.6   )      --
       expense ^(2)
       Provision
       (Benefit)      19.8        8.7       (0.1  )     --           (5.2   )      23.2
       for income
       taxes
       Income from
       continuing     31.8        13.8      3.0         --           (7.4   )      41.2
       operations
       Discontinued
       operations
       attributable   --          --        --          --           0.3           0.3
       to TECO
       Energy, net
       of tax ^(3)
       Net income
       (loss)
      attributable $ 31.8     $ 13.8   $ 3.0     $ --      $  (7.1   )   $ 41.5    
       to TECO
       Energy ^(1)
2012   Revenues -   $ 446.3     $ 110.0   $ 138.4     $ --        $  2.4         $ 697.1
       outsiders
       Sales to      0.3       0.2     -        --        (0.5   )    --      
       affiliates
       Total          446.6       110.2     138.4       --           1.9           697.1
       revenues
       Depreciation
       and            57.4        12.6      10.8        --           0.4           81.2
       amortization
       Total
       interest       30.0        4.4       1.8         --           12.1          48.3
       charges ^(2)
       Allocated
       interest       --          --        1.7         --           (1.7   )      --
       expense ^(2)
       Provision
       (Benefit)      18.9        6.9       3.1         --           (4.8   )      24.1
       for income
       taxes
       Income from
       continuing     31.4        11.0      9.8         --           (7.6   )      44.6
       operations
       Discontinued
       operations
       attributable   --          --        --          6.6          (0.7   )      5.9
       to TECO
       Energy, net
       of tax ^(3)
       Net income
       (loss)
      attributable $ 31.4     $ 11.0   $ 9.8     $ 6.6     $  (8.3   )   $ 50.5    
       to TECO
       Energy ^(1)
Twelve months ended
Mar. 31,
2013   Revenues -   $ 1,952.2   $ 408.5   $ 588.4     $ --        $  11.5        $ 2,960.6
       outsiders
       Sales to      0.5       2.1     --       --        (2.6   )    --      
       affiliates
       Total          1,952.7     410.6     588.4       --           8.9           2,960.6
       revenues
       Depreciation
       and            239.2       51.0      39.9        --           1.3           331.4
       amortization
       Total
       interest       103.2       15.0      7.0         --           52.4          177.6
       charges ^(2)
       Allocated
       interest       --          --        6.7         --           (6.7   )      --
       expense ^(2)
       Provision
       (Benefit)      121.1       23.3      12.5        --           (20.1  )      136.8
       for income
       taxes
       Income from
       continuing     193.5       36.9      43.4        --           (31.1  )      242.7
       operations
       Discontinued
       operations
       attributable   --          --        --          (35.9 )      (3.1   )      (39.0   )
       to TECO
       Energy, net
       of tax ^(3)
       Net income
       (loss)
      attributable $ 193.5    $ 36.9   $ 43.4    $ (35.9 )  $  (34.2  )   $ 203.7   
       to TECO
       Energy ^(1)
2012   Revenues -   $ 2,032.8   $ 406.3   $ 697.7     $ --        $  7.7         $ 3,144.5
       outsiders
       Sales to      1.2       1.4     --       --        (2.6   )    --      
       affiliates
       Total          2,034.0     407.7     697.7       --           5.1           3,144.5
       revenues
       Depreciation
       and            224.6       49.2      45.2        --           1.4           320.4
       amortization
       Total
       interest       120.9       17.7      7.0         --           49.4          195.0
       charges ^(2)
       Allocated
       interest       --          --        6.8         --           (6.8   )      --
       expense ^(2)
       Provision
       (Benefit)      123.6       18.3      17.0        --           (17.7  )      141.2
       for income
       taxes
       Income from
       continuing     202.5       28.9      53.2        --           (34.6  )      250.0
       operations
       Discontinued
       operations
       attributable   --          --        --          22.6         (1.2   )      21.4
       to TECO
       Energy, net
       of tax ^(3)
       Net income
       (loss)
      attributable $ 202.5    $ 28.9   $ 53.2    $ 22.6    $  (35.8  )   $ 271.4   
       to TECO
       Energy ^(1)
                                                                                 
(1   ) Results are based on GAAP net income. For a complete reconciliation between GAAP and
       non-GAAP items, see Results Reconciliation in Earnings Release.
       
       Segment net income is reported on a basis that includes internally allocated
(2   ) financing costs. Internally allocated costs were at pretax rates of 6.00% for January
       2012 through March 2013 and 6.25% for April 2011 through December 2011.
       
       All periods have been adjusted to reflect the reclassification of results from
(3   ) operations to discontinued operations for TECO Guatemala and certain charges at
       Parent that directly relate to TECO Guatemala.
       

TAMPA ELECTRIC COMPANY
ELECTRIC OPERATING STATISTICS (Unaudited)

             Operating Revenues*                     Sales -- Kilowatt-hours*
Three
Months                                    Percent                            Percent
Ended Mar.
31,
             2013         2012       Change    2013        2012        Change
                                                                                 
Residential   $ 189,623       $ 197,298     (3.9   )   1,725,254    1,725,085    0.0
Commercial      130,656         139,859     (6.6   )   1,353,249    1,393,856    (2.9  )
Industrial
--              17,801          18,432      (3.4   )   222,029      222,724      (0.3  )
Phosphate
Industrial      23,330          24,073      (3.1   )   262,886      258,310      1.8
-- Other
Other sales
of              41,364          42,648      (3.0   )   420,548      416,155      1.1
electricity
                                                                     
                402,774         422,310     (4.6   )   3,983,966    4,016,130    (0.8  )
                                                                                 
Deferred
and other       (2,832    )     7,502       (137.7 )   --           --           --
revenues
Provision
for Revenue     --              --          --         --           --           --
Stipulation
Sales for       1,337           3,127       (57.2  )   40,783       64,736       (37.0 )
resale
Other
operating       16,708          13,666      22.3       --           --           --
revenue
SO[2]
Allowance       --              --          --         --           --           --
Sales
NOx
Allowance     --           --         --       --          --          --    
Sales
            $ 417,987     $ 446,605    (6.4   )  4,024,749   4,080,866   (1.4  )
                                                                                 
Average       690,184      680,753    1.4      --          --          --    
customers
                                                                                 
Retail Net
Energy For                                      4,088,024   4,243,598   (3.7  )
Load
                                                                                 
Total                                           533         636         (16.2 )
Degree Days
                                                                                 
                                                                     
              Operating Revenues*                      Sales -- Kilowatt-hours*
Twelve
Months                                      Percent                              Percent
Ended Mar.
31,
             2013         2012       Change    2013        2012        Change
                                                                                 
Residential   $ 951,280       $ 966,762     (1.6   )   8,395,335    8,469,217    (0.9  )
Commercial      603,080         613,682     (1.7   )   6,144,405    6,209,236    (1.0  )
Industrial
--              75,054          64,846      15.7       912,376      769,623      18.5
Phosphate
Industrial      100,465         100,071     0.4        1,092,943    1,079,416    1.3
-- Other
Other sales
of              182,770         184,784     (1.1   )   1,831,357    1,831,233    0.0
electricity
                                                                     
                1,912,649       1,930,145   (0.9   )   18,376,416   18,358,725   0.1
                                                                                 
Deferred
and other       (36,974   )     31,040      (219.1 )   --           --           --
revenues
Provision
for Revenue     --              --          --         --           --           --
Stipulation
Sales for       14,420          18,534      (22.2  )   243,108      312,614      (22.2 )
resale
Other
operating       62,666          54,248      15.5       --           --           --
revenue
SO[2]
Allowance       1               4           (75.0  )   --           --           --
Sales
NOx
Allowance     --           --         --       --          --          --    
Sales
            $ 1,952,762   $ 2,033,971  (4.0   )  18,619,524  18,671,339  (0.3  )
                                                                                 
Average       686,593      677,449    1.3      --          --          --    
customers
                                                                                 
Retail Net
Energy For                                      19,098,978  19,346,732  (1.3  )
Load
                                                                                 
Total                                           4,087       4,355       (6.2  )
Degree Days
                                                                                 
* in
thousands


PEOPLES GAS SYSTEM
GAS OPERATING STATISTICS (Unaudited)

                Operating Revenues*             Therms*               
Three Months                            Percent                          Percent
Ended Mar. 31,
                2013      2012     Change   2013       2012       Change
                                                                           
By Customer
Segment:
Residential      $ 42,261    $ 40,662    3.9       29,510      27,045      9.1
Commercial         39,243      38,620    1.6       124,783     118,355     5.4
Industrial         3,601       2,376     51.6      71,255      55,665      28.0
Off System         18,295      13,201    38.6      50,469      43,995      14.7
Sales
Power              3,059       3,405     (10.2 )   204,989     208,585     (1.7  )
generation
Other revenues   12,450    10,040   24.0    --         --         --    
               $ 118,909  $ 108,304  9.8     481,006    453,645    6.0   
                                                                           
By Sales Type:
System supply    $ 74,068    $ 68,566    8.0       89,900      82,727      8.7
Transportation     32,391      29,698    9.1       391,106     370,918     5.4
Other revenues   12,450    10,040   24.0    --         --         --    
               $ 118,909  $ 108,304  9.8     481,006    453,645    6.0   
                                                                           
Average          346,446   342,036  1.3     --         --         --    
customers
                                                                           
                                                                           
                                                               
                 Operating Revenues*               Therms*
Twelve Months                            Percent                           Percent
Ended Mar. 31,
                2013      2012     Change   2013       2012       Change
                                                                           
By Customer
Segment:
Residential      $ 126,954   $ 125,412   1.2       73,277      68,051      7.7
Commercial         134,769     131,622   2.4       427,879     405,252     5.6
Industrial         11,556      8,742     32.2      252,928     205,047     23.4
Off System         78,770      85,435    (7.8  )   230,438     202,287     13.9
Sales
Power              12,048      11,595    3.9       909,866     706,598     28.8
generation
Other revenues   37,278    36,280   2.8     --         --         --    
               $ 401,375  $ 399,086  0.6     1,894,388  1,587,235  19.4  
                                                                           
By Sales Type:
System supply    $ 252,863   $ 260,470   (2.9  )   341,441     311,391     9.7
Transportation     111,234     102,336   8.7       1,552,947   1,275,844   21.7
Other revenues   37,278    36,280   2.8     --         --         --    
               $ 401,375  $ 399,086  0.6     1,894,388  1,587,235  19.4  
                                                                           
Average          344,009   339,630  1.3     --         --         --    
customers
                                                                           
* in thousands
                                                                           

Contact:

TECO Energy, Inc.
News Media:
Cherie Jacobs, 813-228-4945
or
Investor Relations:
Mark Kane, 813-228-1772
Internet: http://www.tecoenergy.com
 
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