TECO Energy

Fourth Quarter Res

Tampa, FL

February 5, 2013
Forward Looking Statement

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain informatioin this presentation contains statements that are forward-lookingstatements relating to growth projections and trends as well as cspending, cash generation and liquidity. Such statements are bacompany’s current expectations, and the company does not undobligation to update or revise such statements. Such forward-loinformation involves important risks and uncertainties that could affect anticipated results in the future and, accordingly, such resdiffer from those expressed in any forward-looking statements mTECO Energy. For more information regarding these risks and uncertainties, reRisk Factors section of the TECO Energy Annual Report on Forthe period ended Dec. 31, 2011 as filed with the SEC. 
Sandra Callahan

Chief Financial Officer
Fourth Quarter Financial Resu

Net Income ($ millions) 2012 Net income $ 45.1 Add /(subtract) discontinued operations 0.5 Net income from continuing operations $ 45.6 Earnings Per Share ($/share)Earnings per share $ 0.21 Add /(subtract) discontinued operations -- EPS from continuing operations $ 0.21 
Full-Year 2012 Financial Resu

Net Income ($ millions) 2012 Net income $ 212.7 Add /(subtract) discontinued operations 33.3 Net income from continuing operations $ 246.0 Earnings Per Share ($/share)Earnings per share $ 0.99 Add /(subtract) discontinued operations 0.15 EPS from continuing operations $ 1.14 
TECO Guatemala Discontinued Op

($ millions)Fourth quarter 2012 Results from operations $ (2.9) Final adjustments to loss on sale and tax charge 2.4 Net income from discontinued operations $ (0.5) Full-yearResults from operations $ 18.2 Loss on assets sold, net of fees (28.6) Foreign tax credit charge (22.9) Net income from discontinued operations $ (33.3) 
Tampa Electric Business Driv

 Fourth quarter

– 1.4% customer growth– Net energy for load 3.5% higher

 Pretax base revenue $5.0 million higher

– Degree days 14% below normal, but 5% above 201

– Higher O&M and depreciation, lower interest expense

 Full-year

– 1.2% customer growth– Net energy for load 0.3% higher

 Higher sales to phosphate customers Pretax base revenue $6.0 million lower

– Degree days normal – below normal winter and sum

above normal cooling degree days in shoulder mon

– Higher O&M and depreciation, lower interest expen
Peoples Gas Business Driver

 Fourth quarter

– 1.4% customer growth– Higher therm sales to all customer classes– Higher O&M and depreciation, lower interest expense

 Full-year

– 1.2% customer growth– Higher sales to commercial and industrial customers

 Improving economy

– Lower sales to residential customers

 Mild first quarter weather

– Lower O&M and interest expense, higher depreciation
TECO Coal Business Driver

 Fourth quarter

– Sales 1.4 million tons– Average selling almost $95 per ton– Average cost of production more than $85 per ton

 Full-year 2012

– Sales 6.3 million tons– Average selling price more than $95 per ton– Average cost of production more than $85 per ton

 Spreading fixed costs over fewer tons Cost associated with idling certain mining operations
Economic Indicators

 State and local unemployment rate continues to decl

work force continues to grow

Dec. 2012 Peak

– Hillsborough County 7.6% 12.8%– Florida 8.0% 12.3%– U.S. 7.8% 10.1%

 Housing market continues to improve

– 4,430 new single family building permits issued in 2012– Existing home resales continue strong – 3.3 months inv

 January Case-Shiller report Tampa market 6.8% increas

 Taxable sales continue to grow +4.7% YOY – 12-mo
2013 Guidance

 EPS guidance in a range of $0.90 to $1.00

 Excludes charges and gains

– Tampa Electric expected to earn below the bottom of R– Peoples Gas expected to earn above the middle of RO– TECO Coal profitable in a weak market

 Maintain the dividend at current level in 2013

– Prospects for return to normal ratable dividend growth i
2013 Florida Utility Business Dr

 Tampa Electric 

– Customer growth trends consistent with 2012 at 1.2%– Energy sales growth below customer growth

 Lower per customer usage

– Lower sales to phosphate customers due to increased 

generation

 2012 higher due to customer equipment outages

– Higher O&M and depreciation

 Peoples Gas

– Customer growth trends expected to continue consisten– Continued interest in natural gas vehicles and industria
Tampa Electric Base Rate 

Test Year Notification Filed

 Test year notification filed Feb. 4 Docket number 130040-EI Plan to file full request in early April 2014 projected test year New rates effective January 2014 Base rate request estimated at $135 million ROE range 11.25% mid-point Current rates second lowest in Florida among the IO

– Expect to maintain that position
2013 TECO Coal Business Driv

 2013 sales in a range between 5.2 and 5.7 million to

– 2.7 million tons of steam coal contracted– 2.2 million tons of met coal contracted

 Prices lower than 2012 Unsold met tons a mix of primarily Hi-vol A and Hi-vol B 

 Average selling price more than $86 per ton Average cost of sales in a range between $81 and $8

– Total cost driven by steps taken in 2012 to reduce mini

 Fewer shifts, lower head count, reduced overtime  Continued focus on cost control
Polk 2 – 5 Conversion

 Total project cost approximately $700 million 

– Includes approximately $100 million of AFUDC– Includes approximately $150 million for transmission sy

 Projected in-service January 2017 supports system r

modest customer growth

– Replacement of expiring power purchase agreements

 Need determination approved Dec. 12, 2012 – bench  Site certification application filed

– Decision expected 4Q13
Current Outlook for Parent Ca

 Peak spending on Polk conversion 2014 and 2015

– Cash contribution from parent to support Tampa Electric’s cap

estimated at $220 - $250 million in 2013 and 2014

 Extension of bonus depreciation and technical guidance on 

expense

– Additional deductions benefit utility cash flows $120 - $150 mi

2014

– Reduces cash taxes paid to TECO Energy by the same amou

 Current outlook adjusted for delay in realization of cash tax

– Majority of proceeds from the sale of TECO Guatemala will su

investment in Tampa Electric

– Share repurchases to offset compensation share issuance an

opportunities arise

 Expect total over next several years less than $50 million
Tax Value of NOL

 -

 100 200 300 400 500 600 700 800 900

2004 2005 2006 2007 2008 2009 2010 

$ x Millions
Investor Communications

 File 10-K – Due March  UBS Investor Conference March  Morgan Stanley Investor Conference March 
Q&A
Appendix
Local Employment Trends

 1,000,000 1,050,000 1,100,000 1,150,000 1,200,000 1,250,000 1,300,000 1,350,000

Jan-09

Apr-09

Jul-09

Oct-09

Jan-10

Apr-10

Jul-10

Oct-10

Jan-11

Apr-11

Jul-11

Oct-11

Jan-12

Employment Work Force Linear (Employment) Linear (Wo

Source: Florida Agency for Workforce Innovation
Unemployment Trends

4.0%5.0%6.0%7.0%8.0%9.0%

10.0%11.0%12.0%13.0%14.0%

Jan-09

Apr-09

Jul-09

Oct-09

Jan-10

Apr-10

Jul-10

Oct-10

Jan-11

Apr-11

Jul-11

Oct-11

Jan-12

p

Florida US Hillsborough County

Source: Florida Agency for Workforce Innovation

De

U.S. Florida Hillsboroug
Single Family Building Permi

0

100200300400500600700800900

Jan-07

Apr-07

Jul-07

Oct-07

Jan-08

Apr-08

Jul-08

Oct-08

Jan-09

Apr-09

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Jan-11

Apr-11

Jul-11

Oct-11

SF Building Permits 12-Month Moving Average

Dec. 2008 monthly low point 

Oct. 2009 Moving average low point

4,430 single family building permits issued in 2012, 40% more th
Tampa Area Existing Home Res

Source: Greater Tampa Association of Realtors

 -

 500

 1,000 1,500 2,000 2,500

Jan-07

Apr-07

Jul-07

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Apr-11

Jul-11

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Jan12

3.3 month inventory of homes available for resale in Decem
Hillsborough County Monthly Taxa

 $-

 $500

 $1,000 $1,500 $2,000 $2,500

Jan-04

Apr-04

Jul-04

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$ millions

12-months ended Oct. 2012 average monthly sales 
Tampa Electric

Cumulative Customer Additio

0

10,00020,00030,00040,00050,00060,00070,000

1/1/056/1/05 11/1/054/1/069/1/062/1/077/1/07 12/1/075/1/08 10/1/083/1/098/1/091/1/106/1/10 11/1/104/1/119/1/11
TECO Energy