FILE NO. 69-250
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM U-3A-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., TECO Power Services Corporation and Hardee Power I, Inc.,
hereby file with the Securities and Exchange Commission, pursuant to Rule 2,
their statements claiming exemption as holding companies from the provisions of
the Public Utility Holding Company Act of 1935 (the "Act") and submit the
following information:
1. Name, State of organization, location and nature of business of claimants
and every subsidiary thereof, other than any exempt wholesale generator
(EWG) or foreign utility company in which claimants directly or
indirectly hold an interest.
Claimant, TECO Energy, Inc. ("TECO Energy"), is a corporation organized
on January 15, 1981 under the laws of the State of Florida and a holding
company exempt from registration pursuant to Rule 2 under the Act (File
no. 69-250). TECO Energy owns no operating assets, but does own directly
or indirectly the common stock of, or an ownership interest in, 150
subsidiaries.
Claimant, TECO Power Services Corporation ("TECO Power"), is a
corporation organized on May 26, 1987 under the laws of the State of
Florida and a holding company exempt from registration pursuant to Rule 2
under the Act (File no. 69-250). TECO Power owns no operating assets, but
does own directly or indirectly the common stock of, or an ownership
interest in, 84 subsidiaries.
Claimant, Hardee Power I, Inc. ("Hardee Power I"), is a corporation
organized on March 21, 1990 under the laws of the State of Florida and a
holding company exempt from registration pursuant to Rule 2 under the Act
(File no. 69-250). Hardee Power I, owns no operating assets, but does own
a general partnership interest in Hardee Power Partners, Ltd. ("Hardee
Power Partners"), a public utility company for purposes of the Act.
Hardee Power Partners is a limited partnership organized under the laws
of Florida. Hardee Power I is a direct wholly owned subsidiary of TECO
Power and has no subsidiaries or partnership interests other than a
partnership interest in Hardee Power Partners.
TECO Energy previously applied for and received an order pursuant to
Sections 9(a)(2) and 10 of the Act approving its direct or indirect
acquisition of up to 100% of the voting securities of Hardee Power
Partners. (See Act Release No. 35-25199). Other than Hardee Power
Partners, no subsidiary of TECO Power or Hardee Power I is a public
utility company for purposes of the Act.
The name, location, state of organization and nature of business of the
claimants and every subsidiary thereof, other than any EWG or foreign
utility company in which claimant directly or indirectly holds an
interest are as follows:
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
----------------------------- --------------------------------------------
TECO Energy, Inc. Florida. Parent company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
2
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Tampa Electric Company(1) Florida. Through its electric
TECO Plaza division (Tampa Electric), operates
702 North Franklin Street as an electric utility serving West
Tampa, Florida 33602 Central Florida. Through its gas
division (Peoples Gas System),
operates as a local natural gas
distribution business serving
territories in Florida.
TERMCO, Inc. Florida. Acts as exclusive
TECO Plaza broker for Tampa Electric for
702 North Franklin Street the purchase and sale
Tampa, Florida 33602 of real property.
Power Engineering & Florida. Engaged in the
Construction, Inc. repair of customer owned
TECO Plaza transmission and distribution
702 North Franklin Street equipment primarily for
Tampa, Florida 33602 emergency, convenience and safety
within Tampa Electric's retail
territory.
TECO Investments, Inc.(1) Florida. Invests capital
TECO Plaza in short- and long-term
702 North Franklin Street financial investments.
Tampa, Florida 33602
TECO Inventory Company(1) Florida. Non-operating company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TECO Finance, Inc.(1) Florida. Provides financing
TECO Plaza for the unregulated activities
702 North Franklin Street of TECO Energy.
Tampa, Florida 33602
TECO Oil & Gas, Inc.(1) Florida. Non-operating company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TECO Diversified, Inc.(1) Florida. Holding company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TECO Coal Corporation Kentucky. Holding company.
200 Allison Boulevard
Corbin, Kentucky 40701
3
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Bear Branch Coal Company Kentucky. Coal mining.
200 Allison Boulevard
Corbin, Kentucky 40701
Raven Rock Development Kentucky. Real estate investment.
Corporation
200 Allison Boulevard
Corbin, Kentucky 40701
Clintwood Elkhorn Mining Kentucky. Coal mining and
Company processing.
200 Allison Boulevard
Corbin, Kentucky 40701
Gatliff Coal Company Kentucky. Coal mining and
200 Allison Boulevard processing.
Corbin, Kentucky 40701
Pike-Letcher Land Company Kentucky. Land management.
200 Allison Boulevard
Corbin, Kentucky 40701
Premier Elkhorn Coal Company Kentucky. Coal mining and
200 Allison Boulevard processing.
Corbin, Kentucky 40701
Rich Mountain Coal Company Tennessee. Coal mining.
200 Allison Boulevard
Corbin, Kentucky 40701
Perry County Coal Corporation Kentucky. Coal mining and
200 Allison Boulevard processing.
Corbin, Kentucky 40701
Ray Coal Company, Inc. Kentucky. Land management.
200 Allison Boulevard
Corbin, Kentucky 40701
Whitaker Coal Corporation Kentucky. Holds coal mining
200 Allison Boulevard permits.
Corbin, Kentucky 40701
TECO Synfuel Holdings, LLC Delaware. Holds a membership
200 Allison Boulevard interest in Pike Letcher Synfuel,
Corbin, Kentucky 40701 LLC.
TECO Synfuel Operations, LLC Delaware. Managing member of
200 Allison Boulevard Pike Letcher Synfuel, LLC.
Corbin, Kentucky 40701
4
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Pike Letcher Synfuel, LLC Delaware. Operator of synfuel
200 Allison Boulevard manufacturing facilities.
Corbin, Kentucky 40701
TECO Coalbed Methane Florida, Florida. Holds residual assets and
Inc. liabilies of Coalbed Methane
(Formerly TECO Coalbed Methane, business which was sold in late
Inc.) 2002.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TECO Solutions, Inc. Florida. Holding company.
702 North Franklin Street
Tampa, Florida 33602
Prior Energy Corporation Delaware. Natural gas energy
TECO Plaza management services. Does not own
702 North Franklin Street or operate any facilities for the
Tampa, Florida 33602 distribution of natural or
manufactured gas at retail.
Prior Intrastate Corporation Delaware. Natural gas energy
TECO Plaza management services. Does not own
702 North Franklin Street or operate any facilities for the
Tampa, Florida 33602 distribution of natural or
manufactured gas at retail.
TECO Energy Services, Inc. Florida. Energy services company
(Formerly TECO BGA, Inc.) that performs engineering analysis,
TECO Plaza design and construction management.
702 North Franklin Street
Tampa, Florida 33602
BGA Special Project One Florida. Limited partner of
TECO Plaza TECO AGC, Limited.
702 North Franklin Street
Tampa, Florida 33602
TECO AGC, Inc. Florida. General partner of
TECO Plaza TECO AGC, Limited.
702 North Franklin Street
Tampa, Florida 33602
TECO AGC, Limited Florida. Owns and operates a
TECO Plaza chilled water district cooling
702 North Franklin Street system in Tampa.
Tampa, Florida 33602
5
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
TECO Thermal Systems, Inc. Florida. Owns and operates a
(Formerly TECO BGA Thermal chilled water district cooling
Systems, Inc.) system in Miami.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
BCH Mechanical, Inc. Florida. Mechanical contracting.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
SDB Leasing Corporation Florida. Equipment leasing company
TECO Plaza for BCH Mechanical companies.
702 North Franklin Street
Tampa, Florida 33602
Staffing Systems, Inc. Florida. Professional employee
TECO Plaza organization that provides payroll
702 North Franklin Street services to BCH Mechanical
Tampa, Florida 33602 companies.
TECO Gas Services, Inc. Florida. Natural gas energy
TECO Plaza management services. Does not own
702 North Franklin Street or operate any facilities for the
Tampa, Florida 33602 distribution of natural or
manufactured gas at retail.
TECO Properties Corporation Florida. Real estate
TECO Plaza investment.
702 North Franklin Street
Tampa, Florida 33602
Brandon Properties Partners, Florida. Real estate
Ltd. investment.
8925 Eagle Watch Drive
Riverview, Florida 33569
K-T No. 1, LLC Florida. Real estate
3100 Clay Street STE 275 investment.
Orlando, Florida 32804
B-T One, LLC Florida. Real estate
17900 SE 17th Street, STE 300 investment.
Ocala, Florida 34471
Hernando Oaks, LLC Florida. Real estate
1610 Barrancas Avenue investment.
Pensacola, Florida 32501
6
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Walden Woods Business Center, Florida. Real estate
Ltd. investment.
24301 Walden Center Drive
Bonita Springs, Florida 34134
TECO Partners, Inc. Florida. Sales and marketing.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TECO Fiber, Inc. Florida. Holds a membership
TECO Plaza interest in Litestream Technologies.
702 North Franklin Street
Tampa, Florida 33602
Litestream Technologies, LLC Florida. Provides bundled
TECO Plaza telecommunications services over
702 North Franklin Street fiber-optic networks to residential
Tampa, Florida 33602 customers.
TECO Propane Ventures, LLC Delaware. Holds an interest in
TECO Plaza U.S. Propane, LLC.
702 North Franklin Street
Tampa, Florida 33602
U.S. Propane, LLC Delaware. Retail propane
8801 South Yale Avenue STE 310 distribution. Holds an interest
Tulsa, Oklahoma 74137 in U.S. Propane, LP.
U.S. Propane, LP Delaware. Retail propane
8801 South Yale Avenue STE 310 distribution. Holds an interest
Tulsa, Oklahoma 74137 in Heritage Holdings, Inc. and is
the general partner of Heritage
Propane Partners, LP, having publicly
traded units and limited partner
of Heritage Operating, LP. U.S.
Propane, LP is also the general
partner of Heritage Operating, LP.
Heritage Holdings, Inc. Oklahoma. Holds an interest in
8801 South Yale Avenue STE 310 Heritage Propane Partners, LP.
Tulsa, Oklahoma 74137
Heritage Propane Partners, Delaware. Retail propane
LP distribution.
8801 South Yale Avenue
STE 310
Tulsa, Oklahoma 74137
7
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Heritage Operating, LP Delaware. Retail propane
8801 South Yale Avenue distribution.
STE 310
Tulsa, Oklahoma 74137
TECO Transport Corporation Florida. Holding company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TECO Bulk Terminal, LLC Louisiana. Transfers and
TECO Plaza stores coal and other dry bulk
702 North Franklin Street commodities.
Tampa, Florida 33602
TECO Ocean Shipping, Inc. Florida. Transports coal and
TECO Plaza other dry bulk commodities in
702 North Franklin Street ocean-going vessels to various
Tampa, Florida 33602 domestic and international
destinations.
TECO Barge Line, Inc. Florida. Transport coal and
TECO Plaza other dry bulk commodities in
702 North Franklin Street river barges.
Tampa, Florida 33602
TECO Towing Company Florida. Charters river barges
TECO Plaza and purchases fuel for subsequent
702 North Franklin Street resale to affiliated companies.
Tampa, Florida 33602
TECO Commerce, Inc. Florida. Non-operating company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
MaterialsXpress, LLC Delaware. Private internet-based
1915 Rexford Road procurement marketplace for
Charlotte, North Carolina 28211 materials in the natural gas
distribution industry.
TECO Stevedoring Services, Inc.(1) Florida. Unloads coal from
TECO Plaza ocean-going vessels.
702 North Franklin Street
Tampa, Florida 33602
Peoples Sales & Service Company(1) Florida. Non-operating
TECO Plaza company.
702 North Franklin Street
Tampa, Florida 33602
8
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Suwannee Gas Marketing, Inc.(1) Florida. Holding company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
Seminole Gas Marketing Florida. General partnership
P.O. Box 2563 that markets natural gas to
1900 5th Avenue North end-users. Does not own or
Birmingham, Alabama 35202 operate any facilities for the
distribution of natural or
manufactured gas at retail.
Peoples Gas System(Florida), Florida. Name-holding company
Inc. (1) with no operations.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TECO Funding Company I, LLC(1) Delaware. Formed in connection
300 Delaware Avenue 9th Floor with the issuance of trust preferred
Wilmington, Delaware 19801 securities to the public in 2000.
TECO Funding Company II, LLC(1) Delaware. Formed in connection
300 Delaware Avenue 9th Floor with the issuance of mandatorily
Wilmington, Delaware 19801 convertible trust preferred
securities to the public in 2002.
TECO Funding Company III, LLC(1) Delaware. Formed in connection
300 Delaware Avenue 9th Floor with potential future issuance of
Wilmington, Delaware 19801 trust preferred securities.
TECO Power Services Corporation(1) Florida. Holding company.(2)
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
Hardee Power I, Inc. Florida. General partner
TECO Plaza of Hardee Power Partners. (2)
702 North Franklin Street
Tampa, Florida 33602
Hardee Power II, Inc. Florida. Limited partner of
TECO Plaza Hardee Power Partners.
702 North Franklin Street
Tampa, Florida 33602
Hardee Power Partners, Ltd. Florida. Limited
TECO Plaza partnership that owns
702 North Franklin Street Hardee Power Station, a
Tampa, Florida 33602 wholesale power generation
project located in Florida. (2)
9
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
TPS Hamakua, Inc. Florida. General partner
TECO Plaza of Hamakua Energy Partners, LP,
702 North Franklin Street an EWG.
Tampa, Florida 33602
TPS Hawaii, Inc. Florida. A limited partner of
TECO Plaza Hamakua A, LLC, a holding company.
702 North Franklin Street
Tampa, Florida 33602
Hamakua A, LLC Delaware. A limited partner of
J.A. Jones Drive Hamakua Energy Partners, LP,
Charlotte, an EWG.
North Carolina 28287
TPS Hamakua Land, Inc. Florida. A general partner of
TECO Plaza Hamakua Land Partnership, LLP.
702 North Franklin Street
Tampa, Florida 33602
TPS Operations Holding Company Florida. Holding company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TPS Virginia Operations Virginia. Operator of Commonwealth
Company Chesapeake Power Station, a wholesale
TECO Plaza power generation project located in
702 North Franklin Street Virginia.
Tampa, Florida 33602
TPS Arizona Operations Florida. Operator of the Gila
Company River Power Station, a wholesale
TECO Plaza power generation project under
702 North Franklin Street construction.
Tampa, Florida 33602
TPS Arkansas Operations Arkansas. Operator of the Union
Company Power Station, a wholesale power
TECO Plaza generation project under
702 North Franklin Street construction.
Tampa, Florida 33602
TPS Dell Operations Florida. Operator of the Dell
Company Power Station, a wholesale power
TECO Plaza generation project for which
702 North Franklin Street construction has ceased.
Tampa, Florida 33602
10
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
TPS Dell WDP, LLC Arkansas. Real estate holding
TECO Plaza company.
702 North Franklin Street
Tampa, Florida 33602
TPS McAdams Operations Florida. Operator of the McAdams
Company Power Station, a wholesale power
TECO Plaza generation project for which
702 North Franklin Street construction has ceased.
Tampa, Florida 33602
TPS Operations Company Florida. Operator of Hardee Power
TECO Plaza Station, a wholesale power generation
702 North Franklin Street project located in Florida.
Tampa, Florida 33602
TPS Frontera Operations I, Florida. General partner of TPS
Inc. Frontera Operations, LP.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TPS Frontera Operations II, Florida. Limited partner of TPS
Inc. Frontera Operations, LP.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TPS Frontera Operations, Florida. Operator of Frontera Power
LP Station, a wholesale power generation
TECO Plaza project located in Texas.
702 North Franklin Street
Tampa, Florida 33602
TECO Power Ventures, Inc. Florida. Holding company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TPS TriCo, LLC Delaware. Holding company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TPS Tejas GP, LLC Delaware. General partner of
TECO Plaza Frontera Generation Limited
702 North Franklin Street Partnership, an EWG.
Tampa, Florida 33602
11
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
TPS Tejas LP, LLC Delaware. Limited partner of
TECO Plaza Frontera Generation Limited
702 North Franklin Street Partnership, an EWG.
Tampa, Florida 33602
TPS Dell Finance, LLC Delaware. Formed for the purpose of
TECO Plaza bond financing.
702 North Franklin Street
Tampa, Florida 33602
TPS LP, Inc. Florida. Limited partner of
TECO Plaza TECO-Panda Generating Company, LP.
702 North Franklin Street
Tampa, Florida 33602
TPS GP, Inc. Florida. General partner of
TECO Plaza TECO-Panda Generating Company,
702 North Franklin Street LP.
Tampa, Florida 33602
TECO-Panda Generating Delaware. Limited partnership with
Company, LP interests in wholesale power
4100 Spring Valley Road generation projects.
STE 1001
Dallas, Texas 75244
Union Power I, LLC Delaware. Limited liability company
4100 Spring Valley Road that owns 1% interest in Union Power
STE 1001 Partners, LP, an EWG.
Dallas, Texas 75244
Union Power II, LLC Delaware. Limited liability company
4100 Spring Valley Road that owns a 99% interest in Union
STE 1001 Power Partners, LP, an EWG.
Dallas, Texas 75244
Panda Gila River I, LLC Delaware. Limited liability company
4100 Spring Valley Road that owns a 1% interest in Panda
STE 1001 Gila River, LP, an EWG.
Dallas, Texas 75244
Panda Gila River II, LLC Delaware. Limited liability company
4100 Spring Valley Road that owns a 99% interest in Panda
STE 1001 Gila River, LP, an EWG.
Dallas, Texas 75244
Trans-Union Interstate I, Delaware. Limited liability company
LLC that owns a 1% interest in Trans-
4100 Spring Valley Road Union Interstate Pipeline, LP.
STE 1001
Dallas, Texas 75244
12
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Trans-Union Interstate II Delaware. Limited liability company
LLC that owns a 99% interest in Trans-
4100 Spring Valley Road Union Interstate Pipeline, LP.
STE 1001
Dallas, Texas 75244
Trans-Union Interstate Delaware. Natural gas energy
Pipeline, LP management services. Does not own
4100 Spring Valley Road or operate any facilities for the
STE 1001 distribution of natural or
Dallas, Texas 75244 manufactured gas at retail.
TPS LP II, Inc. Florida. Limited partner of TECO-
TECO Plaza Panda Generating Company II, LP.
702 North Franklin Street
Tampa, Florida 33602
TPS GP II, Inc. Florida. General Partner of TECO-
TECO Plaza Panda Generating Company II, LP.
702 North Franklin Street
Tampa, Florida 33602
TECO-Panda Generating Delaware. Owns an interest in
Company II, LP electric generating turbines.
4100 Spring Valley Road
STE 1001
Dallas, Texas 75244
TPS Holdings, Inc. Florida. Non-operating company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TPS Guatemala One, Inc. Florida. Developer and general
TECO Plaza partner of the Alborada Power
702 North Franklin Street Station.
Tampa, Florida 33602
TECO EnergySource, Inc. Florida. Energy marketing company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TPS Materials, Inc. Florida. Parts warehousing
TECO Plaza operations company.
702 North Franklin Street
Tampa, Florida 33602
Pasco Power GP, Inc. Florida. Holds an indirect
TECO Plaza interest in Pasco Cogen., Ltd.
702 North Franklin Street
Tampa, Florida 33602
13
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Pasco Project Investment Florida. General partner of Pasco
Partnership, Ltd. Cogen, Ltd.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
Pasco Cogen, Ltd. Florida. Natural gas-fired
TECO Plaza cogeneration plant.
702 North Franklin Street
Tampa, Florida 33602
TM Power Ventures, LLC Delaware. Joint venture formed
712 Main Street, STE 2200 for developing projects for
Houston, Texas 77002 production of electricity, thermal
energy, chilled water and byproducts.
Mosbacher Power Group, LLC Delaware. Non-operating company.
712 Main Street, STE 2200
Houston, Texas 77002
TM Czech Power, LLC Delaware. Holding company.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TM Kladno Electricidad, Spain. Holding company.
s.r.l.
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
TM Kladno, B.V. The Netherlands. Holding company.
Weena 336
3012 NJ Rotterdam
The Netherlands
Nations Kladno, B.V. The Netherlands. Holding company.
1076 A2 Amsterdam
Locatellikade 1,
Parnassustoren
The Netherlands
Matra Powerplant The Netherlands. Holding company of
Holdings, B.V. ECK Generating, s.r.o., an EWG.
J.J. Viottastraat 46
1071 J. Amsterdam,
The Netherlands
TM ECK, LLC Delaware. Holding company.
712 Main Street
STE 2200
Houston, Texas 77002
14
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
Nations Kladno (II) B.V. The Netherlands. Holding company of
1076 A2 Amsterdam Energeticke Centrum Kladno, spol.
Locatellikade 1, s.r.o., a foreign utility company.
Parnassustoren
The Netherlands
TM Delmarva Power LLC Delaware. Holds an interest in
712 Main Street Commonwealth Chesapeake.
STE 200 Company, LLC, an EWG.
Houston, Texas 77002
TMPV Caledonia LLC Delaware. Non-operating company.
712 Main Street
STE 200
Houston, Texas 77002
TPS International Power, Inc. Cayman Islands. Subsidiary
P. O. Box 866 formed for the purpose of
Anderson Square Building developing wholesale power
3rd Floor generation projects.
George Town, Grand Cayman,
Cayman Islands, B.W.I.
TPS San Jose International, Cayman Islands. Subsidiary
Inc. formed for the purpose of
P. O. Box 866 developing wholesale power
Anderson Square Building generation projects.
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
Tecnologia Maritima, S.A. Guatemala. Owner of port storage
13 Calle 3-40, Zona 10 facility.
Edifico Atlantis
Oficina 503, 5t(o.) Nivel
Guatemala City,
Guatemala, C.A.
TPS Palmera, LDC Cayman Islands. Holds an
P.O. Box 866 interest in Triangle Finance
Anderson Square Building Company, LLC and Palm Import
3rd Floor and Export Corporation.
Georgetown, Grand Cayman
Cayman Islands, B.W.I.
Tasajero I, LDC Cayman Islands. Holds a
P.O. Box 866 partnership interest in TPS
Anderson Square Building Operaciones de Guatemala, Ltda. and
3rd Floor TPS Administraciones, Ltda.
George Town, Grand Cayman
Cayman Islands, B.W.I.
15
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
---------------------------------------------------------------------------------------------------------
TPS Operaciones de Guatemala. Operations company for
Guatemala, Ltda. Central Generadora Electrica San Jose
13 Calle 3-40, Zona 10 S.R.L. (CGESJ), an EWG and foreign
Edifico Atlantis utility and Tampa Centro Americana de
Oficina 503, 5t(o.) Nivel Electricidad, Limitada (TCAE), an
Guatemala City, EWG.
Guatemala, C.A.
TPS Administraciones, Guatemala. Administration
Ltda. company for CGESJ, an EWG and foreign
13 Calle 3-40, Zona 10 utility and TCAE, an EWG.
Edificio Atlantis
Oficina 503, 5t(o.) Nivel
Guatemala City
Guatemala C.A.
TPS San Jose, LDC Cayman Islands. Developer and
P. O. Box 866 joint venture partner in CGESJ.(3)
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I
Palm Import and Export British Virgin Islands. Holds
Corporation an interest in CGESJ and TPS San
P.O. Box 146 Jose, LDC.
Road Tolon, Tortola B.V.I.
Triangle Finance Delaware. Subsidiary formed
Company, LLC for the purpose of borrowing
702 North Franklin Street and lending funds.
Tampa, Florida 33602
San Jose Power Holding Cayman Islands. Holds a
Company, Ltd. partnership interest in
P.O. Box 1111GT CGESJ.
Georgetown, Grand Cayman
Cayman Islands, B.W.I.
TPS de Ultramar, Ltd. Cayman Islands. Holding company.
P.O. Box 866
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
16
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
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TPS de Ultramar Guatemala. Holding company.
Guatemala, S.A.
13 Calle 3-40, Zona 10
Edificio Atlantis
Oficina 503, 5t(o.) Nivel
Guatemala City, Guatemala
C.A.
Generacion Electrica Guatemala. Subsidiary formed for the
Centroamericana, S.A. purpose of developing wholesale
13 Calle 3-40, Zona 10 power generation projects.
Edificio Atlantis
Oficina 503, 5t(o.)
Nivel
Guatemala City,
Guatemala C.A.
Administradora de Guatemala. Holding company.
Inmuebles Santo
Tomas, S.A.
13 Calle 3-40, Zona 10
Edificio Atlantis
Oficina 503, 5t(o.)
Nivel
Guatemala City,
Guatemala C.A.
Distribucion Electrica Guatemala. Holding company.
CentroAmericana II, S.A.
(DECA II)
13 Calle 3-40, Zona 10
Edificio Atlantis
Oficina 503, 5t(o.) Nivel
Guatemala City, Guatemala C.A.
Navega.com, S.A. Guatemala. Provides fiber optics
13 Calle 3-40,Zona 10 through different carriers by
Edificio Atlantis telecommunications networks.
Oficina 503,5t(o.) Nivel
Guatemala City,
Guatemala C.A.
Credieegsa, S.A. Guatemala. Credit union for foreign
13 Calle 3-40, utility company employees.
Zona 10
Edificio Atlantis
Oficina 503,5t(o.) Nivel
Guatemala City,
Guatemala C.A.
17
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
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Commercializdora Guatemala. Subsidiary formed to
Electrica de conduct non-regulatory business of
Guatemala S.A. a foreign utility.
13 Calle 3-40,
Zona 10,
Edificio Atlantis
Oficina 503,5t(o.)
Nivel
Guatemala City,
Guatemala C.A.
Energica, S.A. Guatemala. Subsidiary formed to
13 Calle 3-40, conduct installation business of a
Zona 10, foreign utility.
Edificio Atlantis
Oficina 503,5t(o.)
Nivel
Guatemala City,
Guatemala C.A.
Transportista Guatemala. Transmission and wheeling
Electrica company.
Centroamericana,
S.A.
13 Calle 3-40,
Zona 10,
Edificio Atlantis
Oficina 503,5t(o.)
Nivel
Guatemala City,
Guatemala C.A.
TPS Escuintla I, LDC Cayman Islands. Non-operating
P. O. Box 866 company.
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
TPS Pavana, Ltd. Cayman Islands. Non-operating
P.O. Box 866 company.
Anderson Square Building
3rd Floor
George Town, Grand Cayman
Cayman Islands, B.W.I.
18
STATE OF ORGANIZATION AND
NAME AND LOCATION NATURE OF BUSINESS
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TM Global Power, LLC Delaware. Formed for the purpose
712 Main Street, STE 2200 of developing non-U.S. projects for
Houston, Texas 77002 production of electricity, thermal
energy, chilled water and by-products.
Bear Energy Corporation British Virgin Islands.
Craigmuir Chambers General partner of CPC Limited
P.O. Box 71 Partnership.
Road Tolon, Tortola
B.V.I.
CPC Limited Partnership Cayman Islands. Formed for the
Maples & Calder purpose of developing wholesale
P.O. Box 309 power generation projects.
Ugland House
South Church Street
Grand Cayman,
Cayman Islands
Mosbacher Power Delaware. Formed for the purpose
International LLC of developing power generation
712 Main Street, STE 2200 projects.
Houston, Texas 77002
Mosbacher Power Brasil, Brazil. Non-operating
Ltda. company.
712 Main Street,
STE 2200
Houston, Texas 77002
RAM Power India I, Ltd. British Virgin Islands.
Craigmuir Chambers Non-operating company.
P.O. Box 71
Road Tolon, Tortola
B.V.I.
TPS Holdings II, Inc. Florida. Non-operating company.
(Formerly TPS Celanese I, Inc.)
TECO Plaza
702 North Franklin Street
Tampa, Florida 33602
19
(1) Direct subsidiary of TECO Energy, Inc.
(2) Hardee Power I, as the general partner of Hardee Power Partners; TECO
Power, as the owner of all outstanding voting securities of Hardee
Power I and Hardee Power II and thus the indirect owner of all
outstanding voting securities of Hardee Power Partners; and TECO
Energy, as the owner of all outstanding voting securities of TECO Power
and thus the indirect owner of all outstanding voting securities of
Hardee Power Partners, are each a "holding company" with respect to
Hardee Power Partners for purposes of the Act.
(3) TPS San Jose, LDC held 92-percent and Palm Import and Export
Corporation held 8-percent of the Class A shares of San Jose Power
Holding Company at Dec. 31, 2002. TPS San Jose, LDC owned 99-percent of
Triangle Finance Company, LLC at Dec. 31, 2002.
2. A brief description of the properties of claimants and each of its
subsidiary public utility companies used for the generation, transmission,
and distribution of electric energy for sale, or for the production,
transmission, and distribution of natural or manufactured gas, indicating
the location of principal generating plants, transmission lines, producing
fields, gas manufacturing plants, and electric and gas distribution
facilities, including all such properties which are outside the State in
which the claimants and its subsidiaries are organized and all
transmission or pipelines which deliver or receive electric energy or gas
at the borders of such State.
The only properties to which this question applies are the following
properties of Tampa Electric Company and Hardee Power Partners:
Tampa Electric Company - Electric Operations
Tampa Electric Company had five electric generating plants and five
combustion turbine units in service with a total net generating
capability at December 31, 2002 of 3,784 megawatts (MW) including Big
Bend (1,759-MW capability for four coal units), Gannon (1,107-MW
capability for six coal units), Hookers Point (90-MW capability for five
oil units), Phillips (37-MW capability for two diesel units), Polk
(260-MW capability from one integrated gasification combined cycle (IGCC)
unit) and three combustion turbine units (CT's) located at the Big Bend
(165-MW) and two CT's at Polk (360-MW) stations. Additionally, Tampa
Electric has 6-MW of generating capability from generation units located
at the City of Tampa. Tampa Electric Company also leases various
distributive generation units (50-MW) at Hookers Point. The capability
indicated represents the demonstrable, dependable load carrying abilities
of the generating units during peak periods as proven under actual
operating conditions. Units at Hookers Point went into service from 1948
to 1955, at Gannon from 1957 to 1967, and at Big Bend from 1970 to 1985.
The Polk IGCC unit began commercial operation in September 1996. In 1991,
Tampa Electric purchased two power plants (Dinner Lake and Phillips) from
the Sebring Utilities Commission (Sebring). Dinner Lake (11-MW capability
from one natural gas unit) and Phillips were placed in service by Sebring
in 1966 and 1983, respectively. In March 1994, Dinner Lake Station was
placed on long-term reserve standby and was retired from service in
January 2003. Hookers Point Station's Unit
20
5(67-MW) was placed on long-term standby in January 2001. All units at
Hookers Point were retired from service in January 2003.
Engineering for repowering Gannon Station began in 2000 and the company
anticipates that commercial operation for the first repowered unit will
occur by May 1, 2003. The repowering of an additional unit is scheduled
to be completed by May 1, 2004. When these units are repowered, the
station will be renamed the Bayside Power Station. Total station capacity
is expected to increase to about 1,800 megawatts.
Tampa Electric owns 187 substations having an aggregate transformer
capacity of 17,677,068 KVA. The transmission system consists of
approximately 1,210 pole miles of high voltage transmission lines, and
the distribution system consists of 7,019 pole miles of overhead lines
and 3,143 trench miles of underground lines. As of December 31, 2002,
there were 597,146 meters in service. All of this property is located in
the State of Florida.
All plants and important fixed assets are held in fee except that title
to some of the properties is subject to easements, leases, contracts,
covenants and similar encumbrances and minor defects, of the nature
common to properties of the size and character of those of Tampa
Electric.
Tampa Electric has easements for rights-of-way adequate for the
maintenance and operation of its electrical transmission and distribution
lines that are not constructed upon public highways, roads and streets.
It has the power of eminent domain under Florida law for the acquisition
of any such rights-of-way for the operation of transmission and
distribution lines. Transmission and distribution lines located in public
ways are maintained under franchises or permits.
Tampa Electric has a long-term lease for the office building in downtown
Tampa, Florida which serves as headquarters for TECO Energy, Tampa
Electric, and numerous other TECO Energy subsidiaries.
Tampa Electric Company - Gas Operations
Tampa Electric Company, through its Peoples Gas System division, owns
approximately 9,000 miles of distribution mains, over 4,500 miles of
service lines, plus meters, regulators, and other related equipment used
in serving natural gas to approximately 281,000 residential, commercial
and industrial customers located wholly within the State of Florida.
The natural gas distribution properties are located primarily in the
metropolitan areas of Jacksonville, Daytona Beach, Orlando, Eustis,
Avon Park, Lakeland, Tampa, St. Petersburg, Sarasota, Palm Beach
Gardens, Pompano Beach, Fort Lauderdale, Ft. Myers, Hollywood, North
Miami, Miami Beach, Miami, Naples, Panama City and Ocala, Florida.
Hardee Power Partners
21
Hardee Power Partners
Hardee Power Partners has one electric generating plant, the Hardee Power
Station, which went into commercial operation January 1, 1993. The
station is located in Hardee County, Florida, on property under a
long-term lease. The plant has a net generating capability of 370 MWs
consisting of one combined cycle unit (220 MWs) and two combustion
turbines (75 MWs). Capability as used herein represents the demonstrable
dependable load carrying abilities of the unit during peak periods as
proven under actual operating conditions. Hardee Power Partners owns no
transmission or distribution facilities.
3. The following information for the last calendar year with respect to
the claimants and each of their subsidiary public utility companies:
(a) Number of KWH of electric energy sold (at retail or wholesale), and Mcf
of natural or manufactured gas distributed at retail.
TECO Energy - None
Tampa Electric
19,008,857,000 KWH - Florida
$1,582.9 million Revenue
Tampa Electric (Peoples Gas System division)
32,088,765 Mcf(Sales) Florida
$214.6 million Revenue
93,774,191 Mcf(Transportation) Florida
$76.0 million Revenue
TECO Power - None
Hardee Power I - None
Hardee Power Partners
997,869,000 KWH - Florida
$ 111.5 million Revenue
(b) Number of KWH of electric energy and Mcf of natural or
manufactured gas distributed at retail outside the state in which
each such company is organized.
TECO Energy - None
Tampa Electric - None
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
22
(c) Number of KWH of electric energy and Mcf of natural or
manufactured gas sold at wholesale outside the State in which each
such company is organized or at the State line.
TECO Energy - None
Tampa Electric - 3,616,000 Total KWH
$122,499 Total Revenue
Texas - 1,627,000 KWH
$ 54,166 Revenue
Missouri - 1,989,000 KWH
$68,333 Revenue
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
(d) Number of KWH of electric energy and Mcf of natural or
manufactured gas purchased outside the State in which each such
company is organized or at the State line.
TECO Energy - None
Tampa Electric - 405,683,000 Total KWH
$22.7 million Total Expense
Texas 253,253,000 KWH
$13.3 million Expense
Missouri 139,249,000 KWH
$ 9.0 million Revenue
North Carolina 8,877,000 KWH
$ 304,596 Revenue
Kentucky 4,304,000 KWH
$ 158,958 Revenue
TECO Power - None
Hardee Power I - None
Hardee Power Partners - None
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States
dollars:
23
(a) Name, location, business address and description of the facilities used
by the EWG or foreign utility company for the generation, transmission
and distribution of electric energy for sale or for the distribution at
retail of natural or manufactured gas.
1. Facility name, address and location:
Tampa Centro Americana de Electricidad, Limitada (TCAE)
Alborada Power Station (owned by TCAE, an EWG)
13 Calle 3-40, Zona 10
Edificio 503, 5t Nivel
Guatemala City Guatemala C.A.
Approximately 35 miles southwest of Guatemala City,
Guatemala
Description:
A 78-MW oil-fired electric generating facility. Also
includes a 230KV switchyard with two 13.8KV transformers
and associated equipment.
2. Facility name, address and location:
Empresa Electrica de Guatemala, S.A. (EEGSA) (a foreign
utility company)
13 Calle 3-40, Zona 10
Edificio 503, 5t Nivel
Guatemala City Guatemala C.A.
Located in Guatemala City, Guatemala
Description:
Principal electric distribution company in Guatemala.
3. Facility name, address and location:
Central Generadora Electrica San Jose, S.R.L. (CGESJ)
San Jose Power Station (owned by CGESJ, an EWG and a
foreign utility company
13 Calle 3-40, Zona 10
Edificio 503, 5t Nivel
Guatemala City Guatemala C.A.
Approximately 45 miles southwest of Guatemala City, Guatemala
Description:
A 120-MW coal-fired electric generating facility. Also
includes a 230-KV switchyard with two 13.8-KV transformers
and associated equipment.
4. Facility name, address and location:
ECK Generating, s.r.o (an EWG)
Dubska Teplarna
272 03 Kladno, Czech Republic
Approximately 30km west of Prague, Czech Republic
24
Description:
A 342-MW facility consisting of two ABB circulating
fluidized bed boilers with two 125-MW steam turbine
generators, a 65-MW ABB gas turbine, and a refurbished
coal-fired boiler with a 28-MW and 6-MW steam turbine. All
supply steam, electricity and hot water to the local
industrial customers, city hot water system and local
electricity utility.
5. Facility name, address and location:
Energeticke Centrum Kladno, a.s.
(a foreign utility company)
Dubska Teplarna
272 03 Kladno, Czech Republic
Approximately 30km west of Prague, Czech Republic
Description:
Distributes thermal and electrical energy to Poldi Steel
and other industrial customers in the Poldi Steel industry
complex.
6. Facility name, address and location:
Commonwealth Chesapeake Company (CCC), LLC
(an EWG)
3415 White Oak Way
Newchurch, VA 23415
Located on the Delmarva Peninsula, Acconmack County,
Virginia
Description:
A 312-megawatt combustion turbine peaking plant using
low-sulfur fuel oil. First phase entered service in the
third quarter of 2000. Second phase entered service in the
second quarter of 2001.
7. Facility name, address and location:
TPS Dell, LLC (an EWG)
702 North Franklin St.
Tampa, Florida 33602
Location is City of Dell, Mississippi County, Arkansas
Description:
An approximately 600-megawatt gas-fired combined cycle
electric generation plant under construction, in the City
of Dell in Mississippi County, Arkansas. Construction was
suspended in 2002.
8. Facility name, address and location:
TPS McAdams, LLC (an EWG)
702 North Franklin St.
Tampa, Florida 33602
Location is Attala County, Mississippi
25
Description:
An approximately 600-megawatt gas-fired combined cycle
electric generation plant under construction, in McAdams
and Sallis, in Attala County, Mississippi. Construction
was suspended in 2002.
9. Facility name, address and location:
Union Power Partners, LP (an EWG)
4100 Spring Valley Rd.
STE 1001
Dallas, Texas 75244
Location is Union County, Arkansas
Description:
An approximately 2200-megawatt natural gas-fired combined
cycle electric generation plant. Under construction, to be
located in Union County, Arkansas. The first power block
entered service in January 2003, with final completion
expected in June 2003.
10. Facility name, address and location:
Panda Gila River, LP (an EWG)
4100 Spring Valley Rd.
STE 1001
Dallas, Texas 75244
Location is Maricopa County, Arizona.
Description:
An approximately 2150-megawatt natural gas-fired combined
cycle electric generation plant. Under construction, to be
located in Maricopa County, Arizona. The first power block
is expected to enter service in April 2003, with final
completion expected in August 2003.
11. Facility name, address and location:
Hamakua Energy Partners, LP
Hamakua Power Station(an EWG)
45-300 Lehua Street
P. O. Box 40
Honoka'a, Hawaii 96727
Located on the northeastern coast of the island of Hawaii,
just north of the town of Honoka'a.
Description:
The plant consists of a nominal 60 MW combined cycle
electric generation facility.
26
12. Facility name, address and location:
Frontera Generation Limited Partnership
Frontera Power Station (an EWG)
320 S. Goodwin Road
Mission, Texas 78572
Location is Hildalgo County, Texas.
Description:
An approximately 477-megawatt gas-fired combined cycle
electric generation plant.
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and the description of the interest held.
1. TCAE
At December 31, 2002:
TECO Power Services Corporation had a 100-percent ownership
interest in TPS Guatemala One, Inc.
TPS Guatemala One, Inc. had a 96.06-percent ownership interest in
TCAE.
2. EEGSA
At December 31, 2002:
TECO Power Services Corporation had a 100-percent ownership
interest in TPS International Power, Inc.
TPS International Power, Inc. had a 100-percent ownership interest
in TPS de Ultramar, Ltd.
TPS de Ultramar, Ltd. had a 99-percent ownership interest in TPS
de Ultramar Guatemala, S.A.
TPS International Power, Inc. had a 1-percent ownership interest
in TPS de Ultramar Guatemala, S.A.
TPS de Ultramar Guatemala, S.A. had a 30-percent ownership
interest in DECA II.
DECA II had an 80.88-percent ownership in EEGSA.
3. CGESJ
At December 31, 2002:
TECO Power Services Corporation had a 100-percent ownership
interest in TPS International Power, Inc.
TPS International Power, Inc. had a 100-percent ownership interest
in TPS San Jose International, Inc.
27
TPS International Power, Inc. had a 1-percent ownership interest
in TPS Palmera, LDC.
TPS San Jose International, Inc. had a 99-percent ownership
interest in TPS San Jose, LDC.
TPS San Jose International, Inc. had a 99-percent ownership
interest in TPS Palmera, LDC.
TPS San Jose, LDC had a 92-percent interest in the class A shares
of San Jose Power Holding Company, Ltd.
Palm Import and Export Corporation had an 8-percent interest in
the class A shares of San Jose Power Holding Company, Ltd.
TPS San Jose, LDC had a 99-percent interest in Palm Import and
Export Corporation.
TPS Palmera, LDC had a 1-percent interest in Palm Import and
Export Corporation.
TPS San Jose, LDC had a 99-percent interest in Triangle Finance
Company, LLC.
TPS Palmera, LDC had a 1-percent interest in Triangle Finance
Company, LLC.
San Jose Power Holding Company, Ltd. had a 92-percent interest in
CGESJ.
Palm Import and Export Corporation had an 8-percent interest in
CGESJ.
4. ECK Generating, s.r.o.
At December 31, 2002:
TECO Power Services Corporation had a 100-percent ownership
interest in TM Power Ventures, LLC.
TM Power Ventures, LLC had a 100-percent ownership interest in TM
Czech Power LLC.
TM Czech Power LLC had a 100-percent interest in TM Kladno
Electricidad, s.r.l.
TM Kladno Electricidad, s.r.l. had a 100-percent interest in TM
Kladno, B.V.
TM Kladno B.V. had a 50-percent interest in Nations Kladno B.V.
Nations Kladno B.V. had a 30-percent interest in Matra Powerplant
Holdings, B.V.
28
Matra Powerplant Holdings, B.V. had an 89-percent interest in ECK
Generating, s.r.o.
5. Energeticke Centrum Kladno, a.s.
At December 31, 2002:
TECO Power Services Corporation had a 100-percent ownership
interest in TM Power Ventures, LLC.
TM Power Ventures, LLC had a 100-percent ownership in TM ECK LLC.
TM ECK LLC had a 50-percent interest in Nations Kladno (II) B.V.
Nations Kladno (II) B.V. had a 26.7-percent interest in
Energeticke Centrum Kladno, a.s.
6. Commonwealth Chesapeake Company, LLC
At December 31, 2002:
TECO Power Services Corporation had a 100-percent ownership
interest in TM Power Ventures, LLC.
TM Power Ventures, LLC had a 100-percent ownership in TM Delmarva
Power, LLC.
TM Delmarva Power, LLC had a 100-percent economic ownership
interest in Commonwealth Chesapeake Company, LLC.
7. TPS Dell, LLC
At December 31, 2002:
TECO Power Services Corporation had a 100-percent ownership
interest in TECO Power Ventures, Inc.
TECO Power Ventures, Inc. had a 100-percent ownership interest in
TPS TriCo, LLC.
TPS TriCo, LLC had a 100-percent ownership interest in TPS Dell,
LLC.
8. TPS McAdams, LLC
At December 31, 2002:
TECO Power Services Corporation had a 100-percent ownership
interest in TECO Power Ventures, Inc.
TECO Power Ventures, Inc. had a 100-percent ownership interest in
TPS TriCo, LLC.
29
TPS TriCo, LLC had a 100-percent ownership interest in TPS
McAdams, LLC.
9. Union Power Partners, LP
At December 31, 2002:
TECO Power Services Corporation had a 100-percent interest in TPS
LP, Inc. and TPS GP, Inc.
TPS LP, Inc. had a 49.5-percent interest in TECO-Panda Generating
Company, LP
TPS GP, Inc. had a .5-percent interest in TECO-Panda Generating
Company, LP
TECO-Panda Generating Company, LP had a 100-percent interest in
Union Power I, LLC and Union Power II, LLC.
Union Power I, LLC had a 1-percent interest in Union Power
Partners, LP
Union Power II, LLC had a 99-percent interest in Union Power
Partners, LP
10. Panda Gila River, LP
At December 31, 2002:
TECO Power Services Corporation had a 100-percent interest in TPS
LP, Inc. and TPS GP, Inc.
TPS LP, Inc. had a 49.5-percent interest in TECO-Panda Generating
Company, LP
TPS GP, Inc. had a .5-percent interest in TECO-Panda Generating
Company, LP
TECO-Panda Generating Company, LP had a 100-percent interest in
Panda Gila River I, LLC and Panda Gila River II, LLC.
Panda Gila River I, LLC had a 1-percent interest in Panda Gila
River, LP
Panda Gila River II, LLC had a 99-percent interest in Panda Gila
River, LP
11. Hamakua Energy Partners, LP
At December 31, 2002:
TECO Power Services Corporation had a 100-percent interest in TPS
Hamakua, Inc. and TPS Hawaii, Inc.
30
TPS Hawaii, Inc. had a 50-percent ownership interest in Hamakua A,
LLC.
TPS Hamakua, Inc. had a 1-percent interest in Hamakua Energy
Partners, LP
Hamakua A, LLC had a 98-percent interest in Hamakua Energy
Partners, LP
12. Frontera Generation Limited Partnership
At December 31, 2002:
TECO Power Services Corporation had a 100-percent interest in TECO
Power Ventures, Inc.
TECO Power Ventures, Inc. had a 100-percent ownership interest in
TPS TriCo, LLC.
TPS TriCo, LLC had a 100-percent ownership interest in TPS Tejas
GP, LLC and TPS Tejas LP, LLC.
TPS Tejas GP, LLC had a 1-percent ownership interest in Frontera
Generation Limited Partnership.
TPS Tejas LP, LLC had a 99-percent ownership interest in Frontera
Generation Limited Partnership.
(c) Type and amount of capital invested, directly or indirectly, by
the holding company claiming exemption; any direct or indirect
guarantee of the security of the EWG or foreign utility company by
the holding company claiming exemption; and any debt or other
financial obligation for which there is recourse, directly or
indirectly, to the holding company claiming exemption or another
system company, other than the EWG or foreign utility company.
1. TCAE
At December 31, 2002:
TECO Power Services Corporation had advanced $22.7 million to TPS
Guatemala One, Inc.
TPS Guatemala One, Inc. had invested $13.7 million in TCAE.
Standby letters of credit totaling $4.8 million at
December 31, 2002 were provided by TECO Energy to support certain
activities of TCAE.
2. EEGSA
At December 31, 2002:
31
TECO Power Services Corporation had invested $301.6 million in TPS
International Power, Inc.
TPS International Power, Inc. had invested $132.8 million in TPS
de Ultramar, Ltd.
TPS de Ultramar, Ltd. had invested $122.9 million in TPS de
Ultramar Guatemala, S.A.
TPS de Ultramar Guatemala, S.A. had invested $116.7 million in
DECA II.
DECA II had invested $520,000,000 in EEGSA.
Guarantees totaling $15 million at December 31, 2002 were
provided by TECO Energy to support certain activities of EEGSA.
3. CGESJ
At December 31, 2002:
TECO Power Services Corporation had invested $301.6 million in TPS
International Power, Inc.
TPS International Power, Inc. had invested $(23.7) million in TPS
San Jose International, Inc.
TPS International Power, Inc. had invested $164.3 million TPS San
Jose, LDC.
TPS San Jose, LDC had invested $16.4 million in San Jose Power
Holding Company, Ltd.
TPS San Jose, LDC had invested $13,173 in Palm Import and Export
Corporation.
TPS San Jose, LDC had invested $76.9 million in Triangle Finance
Company, LLC.
Triangle Finance Company, LLC had invested $79.0 million in CGESJ.
San Jose Power Holding Company, Ltd. had invested $14.6 million in
CGESJ.
Palm Import and Export Corporation had invested $1.3 million in
CGESJ.
Standby letters of credit and guarantees totaling $16.2 million at
December 31, 2002 were provided by TECO Energy to support certain
activities of CGESJ.
32
4. ECK Generating, s.r.o
At December 31, 2002:
TECO Power Services Corporation had invested $183.4 million in TM
Power Ventures, LLC.
TM Power Ventures, LLC had invested $13.6 million in TM Czech
Power LLC.
TM Czech Power LLC had invested $13.6 million in TM Kladno
Electricidad, s.r.l.
TM Kladno Electricidad, s.r.l. had invested $13.6 million in TM
Kladno B.V.
TM Kladno B.V. had invested $13.6 million in Nations Kladno B.V.
Nations Kladno B.V. had invested $13.6 million in Matra Powerplant
Holdings, B.V.
Matra Powerplant Holdings, B.V. had invested $13.6 million in ECK
Generating, s.r.o.
Standby letters of credit totaling $2 million at
December 31, 2002 were provided by TECO Energy to support certain
activities of ECK Generating, s.r.o.
5. Energeticke Centrum Kladno, a.s.
At December 31, 2002:
TECO Power Services Corporation had invested $183.4 million TM
Power Ventures, LLC.
TM Power Ventures, LLC had invested $100,000 in TM ECK LLC.
TM ECK LLC had invested $100,000 in Nations Kladno (II) B.V.
Nations Kladno (II) B.V. had invested $100,000 in Energeticke
Centrum Kladno, a.s.
6. Commonwealth Chesapeake Company LLC
At December 31, 2002:
TECO Power Services Corporation had invested $183.4 million in TM
Power Ventures, LLC.
TM Power Ventures, LLC had invested $165.9 million in TM Delmarva
Power LLC.
TM Delmarva Power, LLC had invested $165.9 million in Commonwealth
Chesapeake Company, LLC.
33
7. TPS Dell, LLC
At December 31, 2002:
TECO Power Services Corporation had invested $953.8 million in
TECO Power Ventures, Inc.
TECO Power Ventures, Inc. had invested $953.8 million in TPS
TriCo, LLC.
TPS TriCo, LLC had invested $323.7 million in TPS Dell, LLC.
8. TPS McAdams, LLC
At December 31, 2002:
TECO Power Services Corporation had invested $953.8 million in
TECO Power Ventures, Inc.
TECO Power Ventures, Inc. had invested $953.8 million in TPS
TriCo, LLC.
TPS TriCo, LLC had invested $354.3 million in TPS McAdams, LLC.
9. Union Power Partners, LP
At December 31, 2002:
TECO Power Services Corporation had invested $407.2 million(4) in
Union Power Partners, LP
10. Panda Gila River, LP
At December 31, 2002:
TECO Power Services Corporation had invested $350.4 million(4) in
Panda Gila River, LP.
11. Hamakua Energy Partners, LP
At December 31, 2002:
TECO Power Services Corporation had invested ($33,958) in TPS
Hamakua, Inc.
TECO Power Services Corporation had invested $12.3 million in TPS
Hawaii, Inc.
(4) TPS expects to invest $375 million in 2003 to repay the outstanding amounts
due under the project company's equity bridge loan guaranteed by TECO
Energy related to the Union and Gila River power stations. In addition,
TECO Energy has guaranteed approximately $60 million related to the
construction of these power stations. This construction undertaking
represents the estimated maximum exposure associated with completing the
construction if actual costs exceed current estimates and in-service dates
are delayed beyond current estimates. This contingent obligation estimate
is net of retainage letters of credit posted for these projects. This
estimate will decline rapidly as construction progresses and units are
brought into service.
34
TPS Hawaii, Inc. had invested $12.8 million in Hamakua A, LLC.,
and $1.4 million in Hamakua Energy Partners, LP.
TPS Hamakua, Inc. had invested ($10,735) in Hamakua Energy
Partners, LP.
Hamakua A, LLC had invested $14.1 million in Hamakua Energy
Partners, LP.
12. Frontera Generation Limited Partnership
At December 31, 2002:
TECO Power Services Corporation had invested $953.8 million in
TECO Power Ventures, Inc.
TECO Power Ventures, Inc. had invested $953.8 million in TPS
TriCo, LLC.
TPS TriCo, LLC had invested $2.8 million in TPS Tejas GP, LLC.
TPS TriCo, LLC had invested $273.0 million in TPS Tejas LP, LLC.
TPS Tejas GP, LLC had invested $2.8 million in Frontera Generation
Limited Partnership.
TPS Tejas LP, LLC had invested $273.0 million in Frontera
Generation Limited Partnership.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
Total capitalization of TCAE at Dec. 31, 2002 was $22.1 million.
Total earnings of TCAE for the year ended December 31, 2002 were
$8.7 million. TPS Guatemala One's portion of the earnings of TCAE
for the year ended Dec. 31, 2002 was $8.3 million.
Total capitalization of EEGSA at Dec. 31, 2001 was $412.3 million.
Total earnings of EEGSA for the year ended Dec. 31, 2001 were
$11.8 million.(5)
Total capitalization of CGESJ at Dec. 31, 2002 was $13.4 million.
Total earnings of CGESJ at Dec. 31, 2002 were $19.2 million.
(5) The earnings and capitalization for EEGSA at Dec. 31, 2002, are not
available until April 2003 and will be filed supplementally at that time.
The amounts reported are for the year 2001.
35
Total capitalization of ECK Generating, s.r.o. at Dec. 31, 2002
was $13.6 million. TM Power Venture's portion of the earnings of
ECK Generating, s.r.o. for the year ended Dec. 31, 2002 was $0.
Total capitalization of Energeticke Centrum Kladno, a.s. at Dec.
31, 2002 was $100,000. TM Power Venture's portion of the earnings
of Energeticke Centrum Kladno, a.s. for the year ended Dec. 31,
2002 was $0.
Total capitalization of Commonwealth Chesapeake Company, LLC at
Dec. 31, 2002 was $165.9 million. TM Power Venture's portion of
the earnings of Commonwealth Chesapeake Company, LLC for the year
ended Dec. 31, 2002 was $5.3 million.
Total capitalization of TPS Dell, LLC at Dec. 31, 2002 was $323.7
million. Total earnings of TPS Dell, LLC was $0, as the project
has ceased construction.
Total capitalization of TPS McAdams, LLC at Dec. 31, 2002 was
$354.3 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, 2002
was $407.2 million. Total earnings of Union Power Partners, LP was
$0, as the first phase of the project entered service in January
2003.
Total capitalization of Panda Gila River, LP at Dec. 31, 2002 was
$350.4 million. Project under construction and non-operating.
Total earnings of Panda Gila River, LP was $0, as the project was
under construction and non-operating.
Total capitalization of Hamakua Energy Partners, LP at Dec. 31,
2002 was $12.2 million. Total earnings of Hamakua Energy
Partners, LP for the year ended Dec. 31, 2002 was $2.2 million.
Total capitalization of Frontera Generation Limited Partnership at
Dec. 31, 2002 was $275.8 million. Total earnings of Frontera
Generation Limited Partnership was $12.0 million.
(e) Identify any service, sales or construction contract(s) between
the EWG or foreign utility company and a system company, and
describe the services to be rendered or goods sold and fees or
revenues under such agreement(s).
1. TPS Operaciones de Guatemala, Limitada (TPS Operaciones)
has an agreement to provide operations and maintenance
services to CGESJ. TPS Operaciones is reimbursed for its
direct expenses and received an operating fee of
36
$21,260/month, with performance incentives and price
escalation based on the Consumer Price Index (CPI).
2. TPS Administraciones, Limitada (TPS Administraciones) has
an agreement to provide administrative and support services
to CGESJ. TPS Administraciones is reimbursed for its direct
expenses and received an annual fee of $82,733, with price
escalation based on the CPI.
3. TPS Operaciones has an agreement to provide operations and
maintenance services to TCAE. TPS Operaciones is reimbursed
for its direct expenses and received an operating fee of
$32,904/month, with price escalation based on the CPI. A
bonus/penalty is paid/assessed to/against TPS Operaciones
based on performance guarantees.
4. TPS Administraciones provides administrative and support
services to TCAE. TPS Administraciones received a
$5,000/month fee and is being reimbursed for its direct
costs.
5. TPS Virginia Operations Company (VAOPS) O&M agreement fee
from Commonwealth Chesapeake Company, LLC is $12,500 per
month and is escalated annually by the CPI. VAOPS is being
reimbursed for its direct costs.
6. TPS Dell Operations Company (DellOPS) O&M agreement fee
from TPS Dell, LLC is $20,000 per month. DellOPS is being
reimbursed for its direct costs.
7. TPS McAdams Operations Company (McAdamsOPS) O&M agreement
fee from TPS McAdams, LLC is $20,000 per month. McAdamsOPS
is being reimbursed for its direct costs.
8. TPS Arizona Operations Company (AZOPS) O&M agreement fee
from Panda Gila River, LP is $14,583 per month. AZOPS is
being reimbursed for its direct costs.
9. TPS Arkansas Operations Company (AROPS) O&M agreement fee
from Union Power Partners, LP is $14,583 per month. AROPS
is being reimbursed for its direct costs.
10. TPS Frontera Operations Company (FronteraOPS) O&M agreement
fee from Frontera Generation Limited Partnership is $41,500
per month. FronteraOPS is being reimbursed for its direct
costs.
37
11. Tampa Electric Company (TEC) and TECO Panda Generating
Company II, LP (TPGC II) entered into an assignment and
assumption agreement whereby TEC obtained TPGC II's rights
and interests to four combustion turbines being purchased
from General Electric and assumed the corresponding
liabilities and obligations for such equipment. In
accordance with the terms of the assignment and assumption
agreement, TEC paid $62.5 million to TPGC II, as
reimbursement for amounts already paid to General Electric
by TPGC II for such equipment.
Attached hereto as Exhibit A are consolidating balance sheets and statements of
income and retained earnings for the twelve months ended December 31, 2002 of
TECO Energy, TECO Power, and Hardee Power I, and their subsidiaries.
Attached hereto as Exhibit B is an organizational chart showing the relationship
of TECO Energy, TECO Power and their subsidiaries and the EWG's and foreign
utility companies set forth in Item 4(a).
38
Each of TECO Energy, TECO Power, and Hardee Power I has caused this statement to
be duly executed on its behalf by its authorized officer on this 28th day of
February, 2003.
(CORPORATE SEAL) TECO ENERGY, INC.
BY: /S/ S.A. Myers
---------------------------
ATTEST: S.A. Myers
Vice President-Corporate
Accounting and Taxes
-------------------------
D. E. SCHWARTZ, SECRETARY
(CORPORATE SEAL) TECO POWER SERVICES CORPORATION
ATTEST: BY: /S/ A. Dean Remmers
-----------------------------
A. Dean Remmers
Vice President-Controller
-------------------------
D. E. SCHWARTZ, SECRETARY
(CORPORATE SEAL) HARDEE POWER I, INC.
ATTEST: BY: /S/ A. Dean Remmers
------------------------------
A. Dean Remmers
Vice President-Controller
-------------------------
D. E. SCHWARTZ, SECRETARY
Name, title and address of officer to whom notices and correspondence concerning
this statement should be addressed:
Name: S. A. Myers
Title: Vice President-Corporate Accounting & Taxes
Address: TECO Energy, Inc.
TECO Plaza
702 North Franklin Street
Tampa, FL 33602
39
Exhibit A
Page 1 of 20
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
December 31, 2002
(thousands of dollars)
TAMPA TECO
ELECTRIC DIVERSIFIED TECO ENERGY- TECO ENERGY, INC.
COMPANY COMPANIES(1) PARENT/OTHER(2) FINANCE ELIMINATIONS (CONSOLIDATED)
------------ ------------ -------------- ------- ------------ --------------
Assets
Current Assets:
Cash and Cash Equ. $ 6,946 $ 31,582 $ 372,042 $ 572 $ -- $ 411,142
Restricted Cash 1,624 -- -- -- 1,624
Short Term Inv. -- 6 -- -- -- 6
Receiv. less allow for uncollect 193,413 804,074 2,361,169 3,639 (2,704,569) 657,726
Interest Receivable Affiliates -- -- 12,765 -- (12,765) --
Current Derivative Asset 3,420 9,022 -- -- -- 12,442
Inventories at average cost:
Fuel 79,103 34,621 -- -- -- 113,724
Materials & Supplies 48,112 48,004 -- -- -- 96,116
Prepayments 14,904 15,522 -- -- -- 30,426
------------ ---------- ---------- ------ ----------- -----------
345,898 944,455 2,745,976 4,211 (2,717,334) 1,323,206
Investment in subsidiaries -- -- 2,659,669 -- (2,659,669) --
Property, plant & equip. orig cost
Utility plant in svc - ele 4,310,836 743,518 -- -- -- 5,054,354
Utility plant in svc - gas 746,731 -- -- -- -- 746,731
CWIP 768,496 788,342 -- -- -- 1,556,838
Other property 7,899 848,915 7 -- 582 857,403
------------ ---------- ---------- ------ ----------- -----------
5,833,962 2,380,775 7 -- 582 8,215,326
Less Accum. Depr. (2,161,004) (590,282) -- -- -- (2,751,286)
------------ ---------- ---------- ------ ----------- -----------
3,672,958 1,790,493 7 -- 582 5,464,040
Other Assets
Intangible Asset -- 11,139 -- -- -- 11,139
Goodwill -- 193,660 -- -- -- 193,660
Long Term Derivative Asset -- 122 -- -- -- 122
Other investments -- 984,763 9,696 -- 994,459
Deferred income tax 133,305 16,179 206,483 -- (15,734) 340,233
Deferred charges & other assets 192,516 93,134 45,548 -- (20,253) 310,945
------------ ---------- ---------- ------ ----------- -----------
325,821 1,298,997 261,727 -- (35,987) 1,850,558
------------ ---------- ---------- ------ ----------- -----------
$ 4,344,677 $4,033,945 $5,667,379 $4,211 $(5,412,408) $ 8,637,804
============ ========== ========== ====== =========== ===========
(1) Diversified companies consist of: TECO Diversified Consolidated, TECO
Power Services Consolidated and TECO Stevedoring.
(2) TECO Energy Parent/Other consist of: TECO Energy Parent, TECO Investments
and several other non-operating subsidiaries.
Exhibit A
Page 2 of 20
TECO ENERGY, INC.
CONSOLIDATING BALANCE SHEET
December 31, 2002
(thousands of dollars)
TAMPA TECO
ELECTRIC DIVERSIFIED TECO ENERGY- TECO ENERGY, INC.
COMPANY COMPANIES(1) PARENT/OTHER(2) FINANCE ELIMINATIONS (CONSOLIDATED)
------------ ------------ ---------------- ----------- ------------- --------------
Current liabilities
Long-term debt due w/i 1 year $ 81,050 $ 46,068 $ -- $ -- $ -- $ 127,118
Notes payable 10,500 -- 379,684 -- (29,684) 360,500
Accounts payable 185,651 2,470,309 262,611 134,740 (2,675,885) 377,426
Interest payable - affiliates -- 12,765 -- -- (12,765) --
Current derivative liability (77) 4,025 -- -- -- 3,948
Customer deposits 94,628 3 -- -- -- 94,631
Interest accrued 18,333 2,597 28,844 -- -- 49,774
Taxes accrued 46,928 54,145 (5,000) (454) 226 95,845
----------- ----------- ----------- ----------- ----------- -----------
437,013 2,589,912 666,139 134,286 (2,718,108) 1,109,242
Deferred income taxes 483,074 24,955 2,712 -- (15,734) 495,007
Investment tax credit 27,138 358 -- -- -- 27,496
Regulatory liability-tax related 36,602 -- -- -- -- 36,602
Other deferred credits 177,221 165,390 61,955 -- (20,253) 384,313
Long-term deb, less amt due w/i 1 yr 1,345,598 322,223 1,656,515 -- -- 3,324,336
Preferred stock of Tpa Electric -- -- 649,125 -- -- 649,125
Common stock 1,535,125 821,988 1,293,792 100 (2,380,634) 1,270,371
Retained earnings 302,906 109,119 1,368,234 (130,175) (277,679) 1,372,405
Unearned comp.related to ESOP -- -- (31,093) -- -- (31,093)
----------- ----------- ----------- ----------- ----------- -----------
$ 4,344,677 $ 4,033,945 $ 5,667,379 $ 4,211 $(5,412,408) $ 8,637,804
=========== =========== =========== =========== =========== ===========
(1) Diversified companies consist of: TECO Diversified Consolidated, TECO
Power Services Consolidated and TECO Stevedoring.
(2) TECO Energy Parent/Other consist of: TECO Energy Parent, TECO Investments
and several other non-operating subsidiaries.
Exhibit A
Page 3 of 20
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED December 31, 2002
(thousands of dollars)
TAMPA TECO
ELECTRIC DIVERSIFIED TECO ENERGY- TECO ENERGY, INC.
COMPANY COMPANIES(1) PARENT/OTHER(2) FINANCE ELIMINATIONS (CONSOLIDATED)
----------- ------------- -------------- ---------- ------------ --------------
Revenue $ 1,901,345 $ 992,143 $ -- $ 1,928 $ (219,584) $ 2,675,832
Expenses
Operation 1,100,573 762,592 8,587 2,025 (225,606) 1,648,171
Maintenance 111,974 50,160 -- -- -- 162,134
Depreciation 220,267 83,098 -- -- 44 303,409
Asset Adjustment -- -- -- -- -- --
Taxes-other than income 132,629 40,554 -- -- -- 173,183
Taxes-Fed & State income 100,338 (107,295) -- -- 6,957 --
----------- ----------- ----------- --------- ---------- -----------
1,665,781 829,109 8,587 2,025 (218,605) 2,286,897
----------- ----------- ----------- --------- ---------- -----------
Income from operations 235,564 163,034 (8,587) (97) (979) 388,935
Other income (expense)
Allowance for other funds 24,928 -- -- -- -- 24,928
Other income (expense), net 1,745 58,347 (28,023) -- (3,775) 28,294
Earnings from equity investment -- (5,949) (55) -- -- (6,004)
----------- ----------- ----------- --------- ---------- -----------
26,673 52,398 (28,078) -- (3,775) 47,218
----------- ----------- ----------- --------- ---------- -----------
Income before Int. & income taxes 262,237 215,432 (36,665) (97) (4,754) 436,153
Interest charges
Interest expense 75,889 76,140 (12,926) 4,293 3,727 147,123
Distribution on redeemable pref. sec -- -- 38,900 -- -- 38,900
Allow. for borrowed funds (9,627) -- -- -- -- (9,627)
----------- ----------- ----------- --------- ---------- -----------
66,262 76,140 25,974 4,293 3,727 176,396
----------- ----------- ----------- --------- ---------- -----------
Income before prov. for inc. tax 195,975 139,292 (62,639) (4,390) (8,481) 259,757
Prov for income taxes -- (499) (27,771) (1,693) (8,454) (38,417)
----------- ----------- ----------- --------- ---------- -----------
Net Income $ 195,975 $ 139,791 $ (34,868) $ (2,697) $ (27) $ 298,174
=========== =========== =========== ========= ========== ===========
(1) Diversified companies consist of: TECO Diversified Consolidated, TECO
Power Services Consolidated and TECO Stevedoring.
(2) TECO Energy Parent/Other consist of: TECO Energy Parent, TECO Investments
and several other non-operating subsidiaries.
Exhibit A
Page 4 of 20
TECO ENERGY, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 2002
(thousands of dollars)
TAMPA TECO
ELECTRIC DIVERSIFIED TECO ENERGY - TECO ENERGY, INC.
COMPANY COMPANIES(1) PARENT/OTHER(2) FINANCE ELIMINATIONS (CONSOLIDATED)
----------- ------------- --------------- ------------- ------------- --------------
Balance, beginning of period $ 304,288 $ 71,057 $ 1,257,448 $ (127,478) $ (229,681) $ 1,275,634
Add:
Net Income 195,975 139,791 328,926(3) (2,697) (363,821) 298,174
Comprehensive Income 81 (14,481) (4,430) -- (18,830)
Tax benefits - ESOP Dividends -- 1,287 -- 1,287
----------- ----------- ----------- ----------- ----------- -----------
500,344 196,367 1,583,231 (130,175) (593,502) 1,556,265
Deduct:
Cash dividends on capital stock
Preferred -- -- -- -- -- --
Common 197,438 118,630 215,795 -- (316,068) 215,795
Other - Adjustment -- (31,382)(4) (798)(5) -- 245 (31,935)
----------- ----------- ----------- ----------- ----------- -----------
Balance, end of period $ 302,906 $ 109,119 $ 1,368,234 $ (130,175) $ (277,679) $ 1,372,405
=========== =========== =========== =========== =========== ===========
(1) Diversified companies consist of: TECO Diversified Consolidated, TECO
Power Services Consolidated and TECO Stevedoring.
(2) TECO Energy Parent/Other consist of: TECO Energy Parent, TECO Investments
and several other non-operating subsidiaries.
(3) Includes $363,794 of TECO Energy's equity in earnings of subsidiaries.
(4) Net income from TECO Coalbed Methane is classified as discontinued
operations on TECO Energy's consolidated Income Statement.
(5) Net gain from discontinued operations and reclass of Suwanee to
TECO Energy.
Exhibit A
Page 4 of 20
TECO DIVERSIFIED, INC.
CONSOLIDATING BALANCE SHEET
December 31, 2001
(thousands of dollars)
TECO TECO
TECO TECO TECO TECO DIVERSIFIED DIVERSIFIED
SOLUTIONS COAL TRANSPORT CBM PARENT ELIMINATIONS (CONSOLIDATED)
----------- ----------- ----------- ----------- ----------- ------------ --------------
Assets
Current Assets:
Cash and Cash Equ. $ 2,683 $ 2,507 $ 380 $ 267 $ 299 $ -- $ 6,136
Restricted Cash -- -- -- -- -- -- --
Short Term Inv. -- 6 -- -- -- -- 6
Receiv. less allow for uncollect. 153,446 43,441 154,834 103,545 116,914 (1) 572,179
Interest Receivable Affiliates -- -- -- -- -- -- --
Current Derivative Asset 4,349 -- 1,448 -- -- -- 5,797
Inventories at average cost:
Fuel 9,856 16,635 -- -- -- -- 26,491
Materials & Supplies 61 5,513 15,592 -- -- -- 21,166
Prepayments 1,492 7,103 2,211 -- -- -- 10,806
----------- ----------- ----------- ----------- ----------- ----------- -----------
171,887 75,205 174,465 103,812 117,213 (1) 642,581
Investment in subsidiaries -- -- -- -- 457,079 (457,079) --
Property, plant & equip. orig cost
Utility plant in svc - ele -- -- -- -- -- -- --
Utility plant in svc - gas -- -- -- -- -- -- --
CWIP 534 7,514 8,841 -- -- -- 16,889
Other property 28,530 298,080 508,952 -- -- -- 835,562
----------- ----------- ----------- ----------- ----------- ----------- -----------
29,064 305,594 517,793 -- -- -- 852,451
Less Accum. Depr. 4,651 140,560 337,817 -- -- -- 483,028
----------- ----------- ----------- ----------- ----------- ----------- -----------
24,413 165,034 179,976 -- -- -- 369,423
Other Assets
Intangible Asset 4,465 -- -- -- -- -- 4,465
Goodwill 39,143 -- -- -- -- -- 39,143
Long Term Derivative Asset 36 -- -- -- -- -- 36
Other investments 51,764 -- -- -- -- -- 51,764
Deferred income tax (1,136) 11,491 125 -- -- -- 10,480
Deferred charges & other assets 7,563 31,772 552 -- 2 -- 39,889
----------- ----------- ----------- ----------- ----------- ----------- -----------
101,835 43,263 677 -- 2 -- 145,777
----------- ----------- ----------- ----------- ----------- ----------- -----------
$ 298,135 $ 283,502 $ 355,118 $ 103,812 $ 574,294 $ (457,080) $ 1,157,781
=========== =========== =========== =========== =========== =========== ===========
Exhibit A
Page 6 of 20
TECO DIVERSIFIED, INC.
CONSOLIDATING BALANCE SHEET
December 31, 2002
(thousands of dollars)
TECO TECO
TECO TECO TECO TECO DIVERSIFIED DIVERSIFIED
SOLUTIONS COAL TRANSPORT CBM PARENT ELIMINATIONS (CONSOLIDATED)
----------- ----------- ----------- ----------- ----------- ------------ --------------
Current liabilities
Long-term debt due w/i 1 year $ -- $ -- $ 25,309 $ -- $ -- $ -- $ 25,309
Notes payable -- -- -- -- -- -- --
Accounts payable 139,378 71,797 26,702 15,867 -- (1) 253,743
Interest Payable - Affiliates 375 669 (146) 189 -- -- 1,087
Current Derivative Liability -- -- -- -- -- -- --
Customer deposits 3 -- -- -- -- -- 3
Interest accrued -- -- 1,864 -- -- -- 1,864
Taxes accrued 7,848 2,620 19,715 13,516 -- -- 43,699
----------- ----------- ----------- ----------- ----------- ----------- -----------
147,604 75,086 73,444 29,572 -- (1) 325,705
-- --
Deferred income taxes 869 603 1,370 18,724 -- -- 21,566
Investment tax credit -- -- 358 -- -- -- 358
Regulatory liability-tax related -- -- -- -- -- -- --
Other deferred credits 1,466 7,833 72,510 38,084 -- -- 119,893
Long-term deb, less amt due w/i 1 yr -- -- 110,601 -- -- -- 110,601
--
Preferred stock of Tpa Electric -- -- -- -- -- -- --
Common stock 136,575 164,519 53,456 -- 487,646 (354,550) 487,646
Retained earnings 11,621 35,461 43,379 17,432 86,648 (102,529) 92,012
Unearned comp.related to ESOP -- -- -- -- -- -- --
----------- ----------- ----------- ----------- ----------- ----------- -----------
$ 298,135 $ 283,502 $ 355,118 $ 103,812 $ 574,294 $ (457,080) $ 1,157,781
=========== =========== =========== =========== =========== =========== ===========
Exhibit A
Page 7 of 20
TECO DIVERSIFIED, INC.
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED December 31, 2002
(thousands of dollars)
TECO TECO
TECO TECO TECO TECO DIVERSIFIED DIVERSIFIED
SOLUTIONS COAL TRANSPORT CBM PARENT ELIMINATIONS (CONSOLIDATIONS)
--------- --------- --------- ------ ----------- ------------ ----------------
Revenue $ 105,186 $ 317,135 $ 254,618 $ -- $ -- $ -- $ 676,939
Expenses
Operation 90,430 285,018 168,465 -- -- -- 543,913
Maintenance 3 20,471 20,025 -- -- -- 40,499
Depreciation 1,257 31,446 22,254 -- -- -- 54,957
Asset Adjustment -- -- -- -- -- -- --
Taxes-other than income 472 25,734 5,900 -- -- -- 32,106
Taxes-Fed & State income -- (107,295) -- -- -- -- (107,295)
--------- --------- --------- ----- ----- --------- ---------
92,162 255,374 216,644 -- -- -- 564,180
--------- --------- --------- ----- ----- --------- ---------
Income from operations 13,024 61,761 37,974 -- -- -- 112,759
Other income (expense)
Allowance for other funds -- -- -- -- -- -- --
Other income (expense), net 1,998 -- 108 -- -- -- 2,106
Earnings from equity investment 217 -- -- -- -- -- 217
--------- --------- --------- ----- ----- --------- ---------
2,215 -- 108 -- -- -- 2,323
--------- --------- --------- ----- ----- --------- ---------
Income before Int. & income taxes 15,239 61,761 38,082 -- -- -- 115,082
Interest charges
Interest expense 4,504 8,164 6,332 -- -- -- 19,000
Distribution on redeemable pref. sec
Allow. for borrowed funds -- -- -- -- -- -- --
--------- --------- --------- ----- ----- --------- ---------
4,504 8,164 6,332 -- -- -- 19,000
--------- --------- --------- ----- ----- --------- ---------
Income before prov. for inc. tax 10,735 53,597 31,750 -- -- -- 96,082
Prov for income taxes 2,422 (22,859) 10,777 -- -- -- (9,660)
--------- --------- --------- ----- ----- --------- ---------
Net Income $ 8,313 $ 76,456 $ 20,973 $ -- $ -- $ -- $ 105,742
========= ========= ========= ===== ===== ========= =========
Exhibit A
Page 8 of 18
TECO DIVERSIFIED, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 2001
(thousands of dollars)
TECO TECO
TECO TECO TECO TECO DIVERSIFIED DIVERSIFIED
SOLUTIONS COAL TRANSPORT CBM PARENT ELIMINATIONS (CONSOLIDATED)
----------- --------- ---------- --------- ----------- ------------ --------------
Balance, beginning of period $ (706) $ 26,118 $ 44,624 $ 9,124 $ 63,277 $ (79,160) $ 63,277
Add:
Net Income 5,206 59,047 27,563 29,957 121,773 (121,773) 121,773
Earnings of sub's
Comprehensive Income (8,125) -- (160) 289 -- -- (7,996)
Tax benefits - ESOP Dividends
--------- --------- --------- --------- --------- --------- ---------
(3,625) 85,165 72,027 39,370 185,050 (200,933) 177,054
Deduct:
Cash dividends on capital stock --
Preferred --
Common 1,447 56,659 28,089 30,787 116,980 (116,982) 116,980
Other - Adjustment (84)(1) -- -- -- (84)(1) 84 (84)
--------- --------- --------- --------- --------- --------- ---------
Balance, end of period $ (4,988) $ 28,506 $ 43,938 $ 8,583 $ 68,154 $ (84,035) $ 60,158
(1) TPV transfer to TECO Solutions in 2001
Exhibit A
Page 9 of 20
TECO SOLUTIONS, INC.
CONSOLIDATING BALANCE SHEET
December 31, 2002
(thousands of dollars)
TECO TECO
BCH TECO GAS TECO PROPANE PRIOR TECO
MECHANICAL BGA SERVICES PARTNERS VENTURES ENERGY PROPERTIES
---------- ------- -------- -------- -------- -------- ----------
Assets
Current Assets:
Cash and Cash Equ. $ 479 $ 374 $ 820 $ 354 $ 206 $ (143) $ 246
Restricted Cash -- -- -- -- -- -- --
Short Term Inv. -- -- -- -- -- -- --
Receiv. less allow for uncollect 19,715 11,211 6,765 626 9,035 78,365 26,078
Interest Receivable Affiliates -- -- -- -- -- -- --
Current Derivative Asset -- -- -- -- -- 4,349 --
Inventories at average cost: -- --
Fuel -- -- -- -- -- 9,856 --
Materials & Supplies 61 -- -- -- -- -- --
Prepayments 232 293 5 17 -- 945 --
------- ------- ------ ------ ------- -------- -------
20,487 11,878 7,590 997 9,241 93,372 26,324
Investment in subsidiaries -- -- -- -- -- -- --
Property, plant & equip. orig cost
Utility plant in svc - ele -- -- -- -- -- -- --
Utility plant in svc - gas -- -- -- -- -- -- --
CWIP 534 -- -- -- -- -- --
Other property 2,244 13,965 46 1,452 -- 1,141 9,682
------- ------- ------ ------ ------- -------- -------
2,778 13,965 46 1,452 -- 1,141 9,682
Less Accum. Depr. 2,021 1,585 10 423 -- 184 428
------- ------- ------ ------ ------- -------- -------
757 12,380 36 1,029 -- 957 9,254
Other Assets
Intangible Asset -- -- -- -- -- 4,465 --
Goodwill 27,900 1,663 -- -- -- 9,580 --
Long Term Derivative Asset -- -- -- -- -- 36 --
Other investments -- 471 -- 4,752 35,150 -- 11,391
Deferred income tax -- -- -- -- -- (2,780) 1,644
Deferred charges & other assets 96 7,352 253 (204) -- -- 66
------- ------- ------ ------ ------- -------- -------
27,996 9,486 253 4,548 35,150 11,301 13,101
------- ------- ------ ------ ------- -------- -------
$49,240 $33,744 $7,879 $6,574 $44,391 $105,630 $48,679
======= ======= ====== ====== ======= ======== =======
(TABLE CONTINUED BELOW)
TECO
SOLUTIONS SOLUTIONS
PARENT ELIMINATIONS (CONSOLIDATED)
--------- ------------ --------------
Assets
Current Assets:
Cash and Cash Equ. $ 347 $ -- $ 2,683
Restricted Cash -- -- --
Short Term Inv. -- -- --
Receiv. less allow for uncollect 2,836 (1,185) 153,446
Interest Receivable Affiliates -- -- --
Current Derivative Asset -- -- 4,349
Inventories at average cost:
Fuel -- -- 9,856
Materials & Supplies -- -- 61
Prepayments -- -- 1,492
-------- --------- ---------
3,183 (1,185) 171,887
Investment in subsidiaries 140,514 (140,514) --
Property, plant & equip. orig cost
Utility plant in svc - ele -- -- --
Utility plant in svc - gas -- -- --
CWIP -- -- 534
Other property -- -- 28,530
-------- --------- ---------
-- -- 29,064
Less Accum. Depr. -- -- 4,651
-------- --------- ---------
-- -- 24,413
Other Assets
Intangible Asset -- -- 4,465
Goodwill -- -- 39,143
Long Term Derivative Asset -- -- 36
Other investments -- -- 51,764
Deferred income tax -- -- (1,136)
Deferred charges & other assets -- 7,563
-------- --------- ---------
-- -- 101,835
-------- --------- ---------
$143,697 $(141,699) $ 298,135
======== ========= =========
Exhibit A
Page 10 of 20
TECO SOLUTIONS, INC.
CONSOLIDATING BALANCE SHEET
December 31, 2002
(thousands of dollars)
TECO TECO
BCH TECO GAS TECO PROPANE PRIOR
MECHANICAL BGA SERVICES PARTNERS VENTURES ENERGY
---------- --------- -------- --------- --------- ---------
Current liabilities
Long-term debt due w/i 1 year $ -- $ -- $ -- $ -- $ -- $ --
Notes payable -- -- -- -- -- --
Accounts payable 13,105 32,342 6,240 6,950 -- 81,982
Interest payable - Affiliates 108 86 8 21 64 15
Current Derivative Liability -- -- -- -- -- --
Customer deposits -- -- 3 -- -- --
Interest accrued -- -- -- -- -- --
Taxes accrued 836 (1,122) (12) (136) 54 7,841
--------- --------- -------- --------- --------- ---------
14,049 31,306 6,239 6,835 118 89,838
Deferred income taxes 399 (44) (24) 89 12,723 (12,482)
Investment tax credit -- -- -- -- -- --
Regulatory liability-tax related -- -- -- -- -- --
Other deferred credits 854 1,043 -- -- -- (431)
Long-term deb, less amt due w/i 1 yr -- -- -- -- -- --
Preferred stock of Tpa Electric -- -- --
Common stock 30,257 3,669 1 -- 19,560 23,000
Retained earnings 3,681 (2,230) 1,663 (350) 11,990 5,705
Unearned comp.related to ESOP -- -- -- -- -- --
--------- --------- -------- --------- --------- ---------
$ 49,240 $ 33,744 $ 7,879 $ 6,574 $ 44,391 $ 105,630
========= ========= ======== ========= ========= =========
(TABLE CONTINUED BELOW)
TECO
TECO SOLUTIONS SOLUTIONS
PROPERTIES PARENT ELIMINATIONS (CONSOLIDATED)
---------- --------- ------------ --------------
Current liabilities
Long-term debt due w/i 1 year $ -- $ -- $ -- $ --
Notes payable -- -- -- --
Accounts payable 4 (60) (1,185) 139,378
Interest payable - Affiliates 73 -- -- 375
Current Derivative Liability -- -- -- --
Customer deposits -- -- -- 3
Interest accrued -- -- -- --
Taxes accrued 387 -- -- 7,848
--------- --------- --------- ---------
464 (60) (1,185) 147,604
Deferred income taxes 208 -- -- 869
Investment tax credit -- -- -- --
Regulatory liability-tax related -- -- -- --
Other deferred credits -- -- -- 1,466
Long-term deb, less amt due w/i 1 yr -- -- -- --
Preferred stock of Tpa Electric -- -- -- --
Common stock 49,985 136,575 (126,472) 136,575
Retained earnings (1,978) 7,182 (14,042) 11,621
Unearned comp.related to ESOP -- -- -- --
--------- --------- --------- ---------
$ 48,679 $ 143,697 $(141,699) $ 298,135
========= ========= ========= =========
Exhibit A
Page 11 of 20
TECO SOLUTIONS, INC.
CONSOLIDATING STATEMENT OF INCOME
TWELVE MONTHS ENDED December 31, 2002
(thousands of dollars)
TECO TECO
BCH TECO GAS TECO PROPANE PRIOR
MECHANICAL BGA SERVICES PARTNERS VENTURES ENERGY
---------- -------- -------- -------- -------- --------
Revenue $ 57,594 $ 30,271 $ 2,310 $ 14,152 $ -- $ 11,781
Expenses
Operation 49,956 32,282 1,528 13,111 -- 4,364
Maintenance -- -- 3 -- --
Depreciation 89 745 4 237 -- 176
Asset Adjustment -- -- -- -- -- --
Taxes-other than income -- 280 39 -- -- 118
Taxes-Fed & State income -- -- -- -- -- --
-------- -------- -------- -------- -------- --------
50,045 33,307 1,571 13,351 -- 4,658
-------- -------- -------- -------- -------- --------
Income from operations 7,549 (3,036) 739 801 -- 7,123
Other income (expense)
Allowance for other funds -- -- -- -- -- --
Other income (expense), net (858) 538 -- (56) (47) (30)
Earnings from equity investment -- -- -- (1,071) 485 --
-------- -------- -------- -------- -------- --------
(858) 538 -- (1,127) 438 (30)
-------- -------- -------- -------- -------- --------
Income before Int. & income taxes 6,691 (2,498) 739 (326) 438 7,093
Interest charges
Interest expense 1,243 1,025 133 243 788 215
Distribution on redeemable pref. sec
Allow. for borrowed funds -- -- -- -- -- --
-------- -------- -------- -------- -------- --------
1,243 1,025 133 243 788 215
-------- -------- -------- -------- -------- --------
Income before prov. for inc. tax 5,448 (3,523) 606 (569) (350) 6,878
Prov for income taxes 2,109 (1,115) 236 (186) (2,187) 2,709
-------- -------- -------- -------- -------- --------
Net Income $ 3,339 $ (2,408) $ 370 $ (383) $ 1,837 $ 4,169
======== ======== ======== ======== ======== ========
(TABLE CONTINUED BELOW)
TECO
TECO SOLUTIONS SOLUTIONS
PROPERTIES PARENT ELIMINATIONS (CONSOLIDATED)
---------- --------- ------------ --------------
Revenue $ 471 $ -- $(11,393) $105,186
Expenses
Operation 582 -- (11,393) 90,430
Maintenance -- -- -- 3
Depreciation 6 -- -- 1,257
Asset Adjustment -- -- -- --
Taxes-other than income 35 -- -- 472
Taxes-Fed & State income -- -- -- --
-------- -------- -------- --------
623 -- (11,393) 92,162
-------- -------- -------- --------
Income from operations (152) -- -- 13,024
Other income (expense)
Allowance for other funds -- -- -- --
Other income (expense), net 2,451 -- -- 1,998
Earnings from equity investment 803 -- -- 217
-------- -------- -------- --------
3,254 -- -- 2,215
-------- -------- -------- --------
Income before Int. & income taxes 3,102 -- -- 15,239
Interest charges
Interest expense 857 -- -- 4,504
Distribution on redeemable pref. sec
Allow. for borrowed funds -- -- -- --
-------- -------- -------- --------
857 -- -- 4,504
-------- -------- -------- --------
Income before prov. for inc. tax 2,245 -- -- 10,735
Prov for income taxes 856 -- -- 2,422
-------- -------- -------- --------
Net Income $ 1,389 $ -- $ -- $ 8,313
======== ======== ======== ========
Exhibit A
Page 12 of 20
TECO SOLUTIONS, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED December 31, 2002
(thousands of dollars)
TECO TECO
BCH TECO GAS TECO PROPANE PRIOR TECO
MECHANICAL BGA SERVICES PARTNERS ENERGY ENERGY PROPERTIES
---------- -------- -------- -------- -------- -------- ----------
Balance, beginning of period $ 2,973 $ 178 $ 2,026 $ 33 $ 10,154 $ (7,925) $ (3,367)
Add:
Net Income 3,339 (2,408) 370 (383) 1,836 1,389 8,313
Earnings of sub's -- -- -- -- -- -- --
Comprehensive Income -- -- -- -- --
Tax benefits - ESOP Dividends -- -- -- -- -- -- --
-------- -------- -------- -------- -------- -------- --------
6,312 (2,230) 2,396 (350) 11,990 8,808 (1,978)
Deduct:
Cash dividends on capital stock
Preferred -- -- -- -- -- -- --
Common 2,631 -- 733 -- -- 3,103 --
Other - Adjustment -- -- -- -- -- -- --
-------- -------- -------- -------- -------- -------- --------
Balance, end of period $ 3,681 $ (2,230) $ 1,663 $ (350) $ 11,990 $ 5,705 $ (1,978)
======== ======== ======== ======== ======== ======== ========
(TABLE CONTINUED BELOW)
TECO
SOLUTIONS SOLUTIONS
PARENT ELIMINATIONS (CONSOLIDATED)
--------- ------------ --------------
Balance, beginning of period $ 3,137 $(12,197) $ (4,988)
Add:
Net Income (8,312) 8,313
Earnings of sub's -- --
Comprehensive Income -- 12,564
Tax benefits - ESOP Dividends -- --
-------- -------- --------
11,450 (20,509) 15,889
Deduct:
Cash dividends on capital stock
Preferred -- -- --
Common 4,268 (6,467) 4,268
Other - Adjustment --
-------- -------- --------
Balance, end of period $ 7,182 $(14,042) $ 11,621
======== ======== ========
Exhibit A
Page 13 of 20
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2002
(thousands of dollars)
TECO POWER TECO PASCO HARDEE HARDEE TPS OPS
(PARENT ONLY) ENERGY SOURCE POWER G.P. POWER I, INC. POWER II, INC. TPS GO, INC. HOLDING CO.
------------- ------------- ----------- ------------- -------------- ------------ ------------
Current assets
Cash and cash equivalents $ 93,736 $ 669 $ 5 $ 1,802 $ -- $ 831 $ 2,119
Restricted cash 1,624
Receivables 607,790 3,710 2 22,027 14,796 637 3,074
Inventories at average cost
Fuel -- -- 2,998 -- -- --
Materials and supplies -- -- 3,672 -- 1,424 --
Prepayments 1,818 (116) -- 131 -- 722 (6)
----------- ----------- ----------- ----------- ----------- ----------- -----------
703,344 4,263 7 32,254 14,796 3,614 5,187
Investment in subsidiaries 850,072 -- -- -- 38,452 -- --
Property, plant & equipment
at original cost
Plant in service -- -- -- 197,870 -- 42,253 38
Construction work
in Process (CWIP) 99,357 -- -- -- -- --
Other property 12,765 -- -- -- -- -- --
----------- ----------- ----------- ----------- ----------- ----------- -----------
112,122 -- -- 197,870 -- 42,253 38
Less accum. deprec. (2,895) -- -- (56,751) -- (10,460) --
----------- ----------- ----------- ----------- ----------- ----------- -----------
109,227 -- -- 141,119 -- 31,793 38
Other assets
Notes Receivable 960,170 -- -- -- -- -- --
Deferred charges &
other assets 44,266 -- 7 5,270 -- 10,825 120
----------- ----------- ----------- ----------- ----------- ----------- -----------
$ 2,667,079 $ 4,263 $ 14 $ 178,643 $ 53,248 $ 46,232 $ 5,345
=========== =========== =========== =========== =========== =========== ===========
Exhibit A
Page 14 of 20
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2002
(thousands of dollars)
TM POWER TECO
TPS INT'L VENTURES POWER TPS HAMAKUA/ TECO POWER
POWER LLC VENTURES INC. GP/LP HAWAII ELIMINATIONS (CONSOLIDATED)
--------- ----------- ------------- -------- ----------- ------------ --------------
Current assets
Cash and cash equivalents $ 14,502 $ 7,765 $ (100,326) $ 2,697 $ 1,073 $ -- $ 24,873
Cash and cash equivalents 1,624
Receivables 12,680 2,972 15,525 -- -- (599,410) 83,803
Inventories at average cost
Fuel 2,949 2,183 8,130
Materials and supplies 3,478 1,562 16,702 -- -- 26,838
Prepayments 867 321 979 -- -- 4,716
-------- ----------- ----------- -------- ----------- ----------- -----------
34,476 14,803 (67,120) 2,697 1,073 (599,410) 149,984
Investment in subsidiaries 118,878 13,650 -- (38,215) 16,744 (888,526) 111,055
Property, plant & equipment
at original cost
Plant in service 155,155 162,733 186,924 -- (1,455) 743,518
Construction work
in Process (CWIP) -- -- 672,096 -- -- 771,453
Other property 573 15 -- -- -- 13,353
-------- ----------- ----------- -------- ----------- ----------- -----------
155,728 162,748 859,020 -- -- (1,455) 1,528,324
Less accum. deprec (16,154) (9,863) (11,272) 141 (107,254)
-------- ----------- ----------- -------- ----------- ----------- -----------
139,574 152,885 847,748 -- -- (1,314) 1,421,070
Other assets
Notes Receivable 11,067 1,423 -- -- -- 972,660
Deferred charges &
other assets 73,883 4,634 75,804 5,411 -- 220,220
-------- ----------- ----------- -------- ----------- ----------- -----------
$377,878 $ 187,395 $ 856,432 $(30,107) $ 17,817 $(1,489,250) $ 2,874,989
======== =========== =========== ======== =========== =========== ===========
Exhibit A
Page 15 of 20
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2002
(thousands of dollars)
TECO POWER TECO PASCO HARDEE HARDEE TPS OPS
(PARENT ONLY) ENERGY SOURCE POWER G.P. POWER I, INC. POWER II, INC. TPS GO, INC. HOLDING CO.
------------- ------------- ----------- ------------- -------------- ------------ -----------
Current Liabilities
Long-term debt due
within one year $ -- $ -- $ -- $ 8,114 $ -- $ -- $ --
Accounts payable 30,184 3,685 3 6,325 -- 24,232 4,696
Interest accrued 11,678 -- -- 722 -- -- --
Taxes accrued 3,283 (20) -- 2,585 332 2,499 50
----------- ----------- ----------- ----------- ----------- ----------- -----------
45,145 3,665 3 17,746 332 26,731 4,746
Deferred income taxes (4,289) 1 5,645 16,936 1,200 (303)
Other deferred credits 41,020 630 -- 1,858 -- 119 --
Sub debt - TECO Finance 13,750 -- -- -- (10,168) --
Long-term debt, less
amount due within one year -- -- 102,947 -- 25,000 --
Advances from TECO Energy 2,180,466 --
Other liabilities - MI 38,453 -- 1,179 --
Common stock 334,341 8 10,973 32,919 1 7
Retained earnings 56,646 (32) 2 1,021 3,061 2,170 895
----------- ----------- ----------- ----------- ----------- ----------- -----------
$ 2,667,079 $ 4,263 $ 14 $ 178,643 $ 53,248 $ 46,232 $ 5,345
=========== =========== =========== =========== =========== =========== ===========
Exhibit A
Page 16 of 20
TECO POWER SERVICES CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2002
(thousands of dollars)
TM POWER TECO
TPS INT'L VENTURES POWER TPS HAMAKUA/ TECO POWER
POWER LLC VENTURES INC. GP/LP HAWAII ELIMINATIONS (CONSOLIDATED)
----------- ----------- ------------- ----------- ----------- ------------ --------------
Current Liabilities
Long-term debt due
within one year $ 12,645 $ -- $ -- $ -- $ -- $ -- $ 20,759
Accounts payable 122,334 4,020 582,809 -- 428 (742,755) 35,961
Interest accrued 11 -- -- -- -- -- 12,411
Taxes accrued 2,076 -- 2,199 (2,432) (560) -- 10,012
----------- ----------- ----------- ----------- ----------- ----------- -----------
137,066 4,020 585,008 (2,432) (132) (742,755) 79,143
Deferred income taxes -- -- 347 (18,226) 3,072 (1) 4,382
Other deferred credits 149 -- 198 -- -- (1,314) 42,660
Sub debt - TECO Finance -- -- -- -- -- -- 3,582
Long-term debt, less
amount due within one year 83,675 -- -- -- -- -- 211,622
Advances from TECO
Energy 2,180,466
Other liabilities - MI -- -- -- -- -- (38,453) 1,179
Common stock 75,615 189,959 265,333 36,323 16,859 (627,997) 334,341
Retained earnings 81,373 (6,584) 5,546 (45,772) (1,982) (78,730) 17,614
----------- ----------- ----------- ----------- ----------- ----------- -----------
$ 377,878 $ 187,395 $ 856,432 $ (30,107) $ 17,817 $(1,489,250) $ 2,874,989
=========== =========== =========== =========== =========== =========== ===========
Exhibit A
Page 17 of 20
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT
TWELVE MONTHS ENDED DECEMBER 31, 2002
(thousands of dollars)
TECO POWER TECO PASCO HARDEE HARDEE TPS OPS
(PARENT ONLY) ENERGY SOURCE POWER G.P. POWER I, INC. POWER II, INC. TPS GO, INC. HOLDING CO.
------------- ------------- --------- ------------- -------------- ------------ -----------
Revenues $ 1,113 $ 115,253 $ 1 $ 111,494 $ -- $ 19,629 $ 1,065
Expenses
Operation 29,677 -- -- 8,361 -- 3,746 24
Maintenance -- -- -- 4,683 -- 322 --
Fuel -- 115,306 -- 34,553 -- -- --
Depreciation & Amortization 1,587 -- -- 6,241 -- 2,160 --
BB4 - Pass Through -- -- -- 31,098 -- -- --
Taxes Other Than Income 952 -- -- 2,932 -- 239 --
--------- --------- --------- --------- --------- --------- ---------
32,216 115,306 -- 87,868 -- 6,467 24
--------- --------- --------- --------- --------- --------- ---------
Income from Operations (31,103) (53) 1 23,626 -- 13,162 1,041
Other Income 59,321 -- -- (10,886) 10,924 (604) --
--------- --------- --------- --------- --------- --------- ---------
Income Before Interest &
Income Taxes 28,218 (53) 1 12,740 10,924 12,558 1,041
--------- --------- --------- --------- --------- --------- ---------
Interest Charges
Long-Term Debt 39,358 -- -- 9,120 -- 1,539 --
Other Interest Expense -- -- -- (22) -- -- --
--------- --------- --------- --------- --------- --------- ---------
39,358 -- -- 9,098 -- 1,539 --
--------- --------- --------- --------- --------- --------- ---------
Income Before Provision
for Income Taxes (11,140) (53) 1 3,642 10,924 11,019 1,041
Equity Earnings in Subsidiaries 41,852 -- -- -- -- -- --
Provision for Income Taxes (991) (21) -- 1,383 4,150 3,871 400
--------- --------- --------- --------- --------- --------- ---------
Net Income $ 31,703 $ (32) $ 1 $ 2,259 $ 6,774 $ 7,148 $ 641
========= ========= ========= ========= ========= ========= =========
Exhibit A
Page 18 of 20
TECO POWER SERVICES CORPORATION
CONSOLIDATING INCOME STATEMENT
TWELVE MONTHS ENDED DECEMBER 31, 2002
(thousands of dollars)
TM POWER TECO
TPS INT'L VENTURES POWER TPS HAMAKUA/ TECO POWER
POWER LLC VENTURES INC. GP/LP HAWAII ELIMINATIONS (CONSOLIDATED)
--------- ---------- ------------- --------- --------- ------------ --------------
Revenues $ 67,469 23,135 $ 82,461 $ -- $ -- $(111,829) $ 309,791
Expenses
Operation 9,248 8,887 6,212 -- -- (2,045) 64,110
Maintenance 1,661 673 1,662 -- -- -- 9,001
Fuel 18,278 6,149 54,070 -- -- (109,783) 118,573
Depreciation & Amortization 6,239 5,250 6,721 -- -- (56) 28,142
BB4 - Pass Through -- -- -- -- -- -- 31,098
Taxes Other Than Income 566 905 2,850 -- -- -- 8,444
--------- --------- --------- --------- --------- --------- ---------
35,992 21,864 71,515 -- -- (111,884) 259,368
--------- --------- --------- --------- --------- --------- ---------
Income from Operations 31,477 1,271 10,946 -- -- 55 50,423
Other Income 6,939 (6,084) 21 (11,504) 1,995 (56) 50,066
--------- --------- --------- --------- --------- --------- ---------
Income Before Interest &
Income Taxes 38,416 (4,813) 10,967 (11,504) 1,995 (1) 100,489
--------- --------- --------- --------- --------- --------- ---------
Interest Charges
Long-Term Debt 7,166 -- -- -- -- -- 57,183
Other Interest Expense -- -- -- -- -- -- (22)
--------- --------- --------- --------- --------- --------- ---------
7,166 -- -- -- -- -- 57,161
--------- --------- --------- --------- --------- --------- ---------
Income Before Provision
for Income Taxes 31,250 (4,813) 10,967 (11,504) 1,995 (1) 43,328
Equity Earnings in Subsidiaries -- -- -- -- -- (41,852) --
Provision for Income Taxes 901 (1,754) 3,852 (4,451) 1,870 1 9,211
--------- --------- --------- --------- --------- --------- ---------
Net Income $ 30,349 $ (3,059) $ 7,115 $ (7,053) $ 125 $ (41,854) $ 34,117
========= ========= ========= ========= ========= ========= =========
Exhibit A
Page 19 of 20
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DECEMBER 31, 2002
(thousands of dollars)
TECO POWER TECO PASCO HARDEE HARDEE TPS OPS
(PARENT ONLY) ENERGY SOURCE POWER G.P. POWER I, INC. POWER II, INC. TPS GO, INC. HOLDING CO.
------------- ------------- ---------- ------------- -------------- ------------ -----------
Balance, beginning of period $ 22,533 $ -- $ 2 $ 1,075 $ 3,225 $ 1,527 $ 254
Add: Net income 31,701(1) (32) 1 2,259 6,774 7,148 641
Comprehensive Income -- -- -- -- -- -- --
-------- -------- -------- -------- -------- -------- --------
54,234 (32) 3 3,334 9,999 8,675 895
Deduct:
Cash dividends on capital
stock - Common (2,412) 1 2,313 6,938 6,505 --
-------- -------- -------- -------- -------- -------- --------
Balance, end of period $ 56,646 $ (32) $ 2 $ 1,021 $ 3,061 $ 2,170 $ 895
======== ======== ======== ======== ======== ======== ========
(1) Includes $41,850 of TECO Power Service's equity in earnings of
subsidiaries.
Exhibit A
Page 20 of 20
TECO POWER SERVICES CORPORATION
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
TWELVE MONTHS ENDED DECEMBER 31, 2002
(thousands of dollars)
TM POWER TECO
TPS INT'L VENTURES POWER TPS HAMAKUA/ TECO POWER
POWER LLC VENTURES INC. GP/LP HAWAII ELIMINATIONS (CONSOLIDATED)
---------- --------- ------------- --------- -------- ------------ --------------
Balance, beginning of period $ 52,264 $ (1,112) $ (1,033) $(12,651) $(54,742) $ 11,342
Add: Net income 30,349 (3,059) 7,115 (7,053) 125 (41,852) 34,117
Comprehensive Income (1,238.00) -- (536) (26,067) -- -- (27,841)
---------- -------- -------- -------- -------- -------- --------
81,375 (4,171) 5,546 (45,771) 125 (96,595) 17,617
Deduct:
Cash dividends on capital
stock - Common 2 2,413 -- 1 2,107 (17,865) 3
---------- -------- -------- -------- -------- -------- --------
Balance, end of period $ 81,373 $ (6,584) $ 5,546 $(45,772) $ (1,982) $(78,730) $ 17,614
========== ======== ======== ======== ======== ======== ========
EXHIBIT B
PAGE 1 OF 2
ORGANIZATIONAL CHART
SHOWING THE RELATIONSHIP OF EACH EWG
OR FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES
IN THE HOLDING-COMPANY SYSTEM
1. TECO Energy, Inc.
TECO Power Services Corporation
TPS Guatemala One, Inc.
Tampa Centro Americana de Electricidad,
Ltda. - TCAE (an EWG)
2. TECO Power Services Corporation
TPS International Power, Inc.
TPS de Ultramar, Ltd.
TPS de Ultramar Guatemala, S.A.
Distribucion Electrica CentroAmericana II,
S.A.- DECA II
Empressa Electrica de Guatemala, S.A.
EEGSA (a foreign utility company)
3. TECO Power Services Corporation
TPS International Power, Inc.
TPS San Jose International, Inc.
TPS San Jose, LDC
TPS Palmera, LDC
Palm Import and Export Corporation
San Jose Power Holding Company, Ltd.
Central Generadora Electric San Jose,
S.R.L. - CGESJ (an EWG and a foreign
utility company)
4. TECO Power Services Corporation
TM Power Ventures, LLC
TM Czech Power, LLC
TM Kladno Electricidad s.r.l.
TM Kladno, B.V.
Nations Kladno, B.V.
Matra Powerplant Holdings, B.V.
ECK Generating, s.r.o. (an
EWG)
5. TECO Power Services Corporation
TM Power Ventures, LLC
TM ECK, LLC
Nations Kladno (II) B.V.
Energeticke Centrum Kladno, a.s.(a foreign
utility company)
EXHIBIT B
PAGE 2 OF 2
6. TECO Power Services Corporation
TM Power Ventures, LLC
TM Delmarva Power LLC
Commonwealth Chesapeake Company, LLC - CCC (an
EWG)
7. TECO Power Services Corporation
TECO Power Ventures, Inc.
TPS TriCo, LLC
TPS Dell, LLC (an EWG)
8. TECO Power Services Corporation
TECO Power Ventures, Inc.
TPS TriCo, LLC
TPS McAdams, LLC (an EWG)
9. TECO Power Services Corporation
TPS LP, Inc.
TPS GP, Inc.
TECO-Panda Generating Company, LP
Union Power I, LLC
Union Power II, LLC
Union Power Partners, LP (an EWG)
10. TECO Power Services Corporation
TPS LP, Inc.
TPS GP, Inc.
TECO-Panda Generating Company, LP
Panda Gila River I, LLC
Panda Gila River II, LLC
Panda Gila River, LP (an EWG)
11. TECO Power Services Corporation
TPS Hamakua, Inc.
TPS Hawaii, Inc.
Hamakua A, LLC
Hamakua Energy Partners, LP (an EWG)
12. TECO Power Services Corporation
TECO Power Ventures, Inc.
TPS TriCo, LLC
TPS Tejas GP, LLC
TPS Tejas LP, LLC
Frontera Generation Limited Partnership (an EWG)