U-3A-2 Amenment No.2

File No. 69-250

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.

 

 

FORM U-3A-2/A

(Amendment No. 2)

 

 

Statement by Holding Company Claiming

Exemption under Rule U-3A-2 from the

Provisions of the Public Utility Holding

Company Act of 1935

 

To be Filed Annually Prior to March 1

 

TECO Energy, Inc. hereby files with the Securities and Exchange Commission, pursuant to Rule 2, Amendment No. 2, updating page 34 of 36, EEGSA earnings and capitalization due to numbers not available at the time of filing in March 04 and correcting Exhibit A, page 3 of 20, Eliminations for Revenue and Operation incorrectly stated at the time of filing in March 04.

Total capitalization of EEGSA at Dec. 31, 2003 was $713.5 million. Total earnings of EEGSA for the year ended Dec. 31, 2003 were $42.5 million.

 

Total capitalization of CGESJ at Dec. 31, 2003 was $89.2 million. Total earnings of CGESJ at Dec. 31, 2003 were $18.0 million.

 

Total capitalization of Commonwealth Chesapeake Company, LLC at Dec. 31, 2003 was $167.9 million. TM Power Venture’s portion of the earnings of Commonwealth Chesapeake Company, LLC for the year ended Dec. 31, 2003 was $5.8 million.

 

Total capitalization of TPS Dell, LLC at Dec. 31, 2003 was $333.7 million. Total earnings of TPS Dell, LLC was $0, as the project has ceased construction.

 

Total capitalization of TPS McAdams, LLC at Dec. 31, 2003 was $349.0 million. Total earnings of TPS McAdams, LLC was $0, as the project has ceased construction.

 

Total capitalization of Union Power Partners, LP at Dec. 31, 2003 was $646.7 million. Total earnings of Union Power Partners, LP was $(589.5) million.

 

Total capitalization of Panda Gila River, LP at Dec. 31, 2003 was $700.3 million. Total earnings of Panda Gila River, LP was $(642.9) million.

 

Total capitalization of Hamakua Energy Partners, LP at Dec. 31, 2003 was $5.2 million. Total earnings of Hamakua Energy Partners, LP for the year ended Dec. 31, 2003 was $1.7 million. (5)

 

Total capitalization of Frontera Generation Limited Partnership at Dec. 31, 2003 was $202.2 million. Total earnings of Frontera Generation Limited Partnership for the year ended Dec. 31, 2003 was $(73.7) million.

 

Total capitalization of Texas Independent Energy Operating Company, LLC was $1.1 million. Total earnings of Texas Independent Energy Operating Company, LLC for the year ended Dec. 31, 2003 was $0 million. (6)

 

(5) The earnings and capitalization of Hamakua Energy Partners, LP represent 100% of the earnings and capitalization provided by the EWG.
(6) The amounts represent 100% of the earnings and capitalization that are provided by the EWG.

 

34

TECO Energy has caused this statement to be duly executed on its behalf by its authorized officer by the 29th day of October, 2004.

 

(CORPORATE SEAL)    TECO ENERGY, INC.
     BY:  

/s/ S.M. PAYNE

Attest:        S.M. Payne
         Vice President-Corporate
        Accounting and Taxes
D. E. Schwartz, Secretary         

 

Name, title and address of officer to whom notices and correspondence concerning this statement should be addressed:

 

Name:    S. M. Payne
Title:    Vice President-Corporate Accounting & Taxes
Address:    TECO Energy, Inc.
     TECO Plaza
     702 North Franklin Street
     Tampa, FL 33602

 

36

Exhibit A

Page 3 of 20

 

TECO ENERGY, INC.

CONSOLIDATING STATEMENT OF INCOME

TWELVE MONTHS ENDED December 31, 2003

(thousands of dollars)

 

     Tampa
Electric
Company
     Diversified
Companies (1)
     TECO Energy-
Parent/Other (2)
     TECO
Finance
     Eliminations
     TECO
Energy, Inc.
(Consolidated)
  

Revenue

    $ 1,994,537     $ 910,228     $ 264     $ 348     $ (165,412 )   $ 2,739,965  

Expenses

                                                 

Operation

      1,160,658       772,060       7,210       1,995       (168,041 )     1,773,882  

Maintenance

      94,274       58,127       —         —         —         152,401  

Depreciation

      243,019       82,910       14       —         44       325,987  

Asset adjustment

      79,597       65,465       —         —         —         145,062  

Goodwill impairment

      —         122,662       —         —         —         122,662  

Restructuring charges

      14,028       7,995       2,613       —         —         24,636  

Taxes-other than income

      136,754       38,440       28       —         —         175,222  

Taxes-Fed & State income

      —         —         —         —         —         —    
    
 
 
 
 
 
       1,728,330       1,147,659       9,865       1,995       (167,997 )     2,719,852  
    
 
 
 
 
 

Income from operations

      266,207       (237,431 )     (9,601 )     (1,647 )     2,585       20,113  

Other income (expense)

                                                 

Allowance for other funds

      19,777       —         —         —         —         19,777  

Other income (expense), net

      1,209       110,068       5,166       —         (1,895 )     114,548  

Loss on debt extinguishment

      —         —         —         —         —         —    

TMDP arbitration reserve

      —         (32,000 )     —         —         —         (32,000 )

Earnings from equity investment

      —         (411 )     —         —         —         (411 )
    
 
 
 
 
 
       20,986       77,657       5,166       —         (1,895 )     101,914  
    
 
 
 
 
 

Income before Int. & income taxes

      287,193       (159,774 )     (4,435 )     (1,647 )     690       122,027  

Interest charges

                                                 

Interest expense

      108,182       141,995       36,581       —         1,604       288,362  

Distribution on redeemable pref. sec.

      —         —         39,950       —         —         39,950  

Allow. for borrowed funds

      (7,638 )     —         —         —         —         (7,638 )
    
 
 
 
 
 
       100,544       141,995       76,531       —         1,604       320,674  
    
 
 
 
 
 

Income before prov. for income tax

      186,649       (301,769 )     (80,966 )     (1,647 )     (914 )     (198,647 )

Prov for income taxes

      63,237       (165,944 )     (30,920 )     (636 )     (887 )     (135,150 )

Minority interest

      —         48,801       —         —         —         48,801  
    
 
 
 
 
 

Net (loss) Income from continuing operations

      123,412       (87,024 )     (50,046 )     (1,011 )     (27 )     (14,696 )

Discontinued operations

                                                 

Income (loss) from discontinued operations

      —         (1,395,450 )     810       —         —         (1,394,640 )

Provision for income taxes

      —         (486,359 )     (17,915 )     —         —         (504,274 )
    
 
 
 
 
 

Net (loss) gain on discontinued operations

      —         (909,091 )     18,725       —         —         (890,366 )

Cumulative effect of change in accounting principle

      —         (1,111 )     (3,233 )     —         —         (4,344 )
    
 
 
 
 
 

Net (loss) income

    $ 123,412     $ (997,226 )   $ (34,554 )   $ (1,011 )   $ (27 )   $ (909,406 )
    
 
 
 
 
 
(1) Diversified companies consist of: TECO Diversified Consolidated, TECO Wholesale Generation Consolidated and TECO Stevedoring.
(2) TECO Energy Parent/Other consist of: TECO Energy Parent, TECO Investments and several other non-operating subsidiaries.