(TE) Tampa Electric Submits Fuel Report

September 2nd, 2009

Tampa Electric, the principal subsidiary of TECO Energy (TE), recently submitted its annual fuel report to the Florida Public Service Commission (FPSC). Lower fuel and purchased power costs during the first half of 2009 and reduced estimates for the remaining half of 2009 and 2010 will bring down the fuel portion of electricity bills of all consumers from January. Tampa estimates the fuel charge for a residential consumer using 1,000 kilowatt-hours of electricity per month to decline by $6.32.

This reduction in electricity bills will more than offset the rise to the base rate part of the bill, which was approved by the FPSC this March and will come in effect from January. Consequently, the monthly bill for a residential consumer using 1,000 kilowatt-hours will be $113.21, resulting in an overall reduction of $1.46. This, however, is subject to requisite approvals by the FPSC.

TECO is a holding company, conducting regulated utility operations in Florida, through Tampa Electric, which supplies electricity to over 667 thousand consumers and Peoples Gas System, which supplies natural gas to over 335 thousand consumers. TECO’s other subsidiaries include TECO Coal, which owns and operates coal production facilities in Kentucky and Virginia, and TECO Guatemala, which deals in electricity generation and distribution and energy-related businesses in Guatemala.

Shares of TECO Energy closed at $13.17 on Tuesday, trading at 14.0X trailing 12-month EPS versus 11.8X of the peer group. We maintain our Neutral recommendation for the company.

Zacks Investment Research
View original at: Zacks.com News Feed

More on this topic (What's this?)
Wealthy Congressmen Don't Feel Your Pain (Money Morning, 1/9/12)
Investor Sentiment: Looking Like Q4, 2010 (Comments for thetechnicaltake, 1/28/12)
Do You Qualify for the Earned Income Credit (EIC)? (Investing School, 12/21/11)
Country Indices Annual Returns from 2001 to 2010 (Top Foreign Stocks, 10/5/11)
Read more on TECO Energy, Chun Yuan Steel at Wikinvest

Related Posts:

  1. (AEP) American Electric to Tap Fed FundsAmerican Electric Power Co. Inc. (AEP) yesterday requested for $75 million in federal stimulus funds...
  2. (TSO) Tesoro Hawaii Wins U.S. Fuel DealYesterday, Tesoro Hawaii Corp., a subsidiary of oil refiner and marketer Tesoro Corp. (TSO), won...
  3. ($VLO) Valero Wins Defense Logistics Agency Aviation Fuel ContractYesterday, Valero Marketing and Supply Co., a subsidiary of oil refiner and marketer Valero Energy...
  4. (INT) World Fuel Services Corporation – Value – Zacks Rank BuyWorld Fuel Services Corporation (INT), which sells marine, aviation and land fuel products and services...
  5. (FSYS) Fuel Systems Solutions – analyst community is bullish on the companyFuel Systems Solutions, Inc. (FSYS) continues to increase output and grow its earnings as demand...
  6. (FSYS) – Fuel Systems Solutions – cashing in on America’s growing desire for less expensive fuel alternatives – 300% jump in earningsFuel Systems Solutions, Inc. (FSYS) is cashing in on America’s growing desire for less expensive...


Search Posts by Tag: | | Electric Utilities | Utilities

RSS Feeds by Tag: TE | TECO Energy Inc. | Electric Utilities | Utilities |

Other Posts by: | RSS Feed for this author