BEFORE THE FLORIDA PUBLIC SERVICE COMMISSION DOCKET NO EI

Transcription

1 BEFORE THE FLORIDA PUBLIC SERVICE COMMISSION DOCKET NO EI IN RE: TAMPA ELECTRIC COMPANY S PETITION FOR AN INCREASE IN BASE RATES AND MISCELLANEOUS SERVICE CHARGES MINIMUM FILING REQUIREMENTS SCHEDULE D COST OF CAPITAL PROJECTED TEST YEAR 4 REVISED: MAY

2 Docket No EI In Re: Tampa Electric Company s Petition For An Increase In Base Rates And Miscellaneous Service Charges MINIMUM FILING REQUIREMENTS INDEX SCHEDULE D COST OF CAPITAL MFR Schedule Witness Title Bates Stamped Page No. D-a Chronister Callahan Cost Of Capital - Month Average D-b Chronister Callahan Cost Of Capital - Adjustments 4 D-2 Chronister Callahan Cost Of Capital - 5 Year History 6 D- Chronister Callahan Short-Term Debt 8 D-4a Chronister Callahan Long-Term Debt Outstanding D-4b Chronister Callahan Reacquired Bonds 2 D-5 Chronister Callahan Preferred Stock Outstanding D-6 Chronister Callahan Customer Deposits 4 D-7 Chronister Callahan Common Stock Data 7

3 Docket No EI In Re: Tampa Electric Company s Petition For An Increase In Base Rates And Miscellaneous Service Charges MINIMUM FILING REQUIREMENTS INDEX SCHEDULE D COST OF CAPITAL MFR Schedule Witness Title Bates Stamped Page No. D-8 Chronister Callahan Financial Plans - Stock And Bond Issues 8 D- Chronister Callahan Financial Indicators - Summary

4 SCHEDULE D-a COST OF CAPITAL - -MONTH AVERAGE Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide the company's -month average cost of capital for the test year, the prior year, and historical base year. Type of data shown: XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY Projected Prior Year Ended 2// Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: S.W. Callahan/J. S. Chronister () (2) () (4) (5) (6) (7) (8) () (0) () (2) Company Common Purchased Power Jurisdictional Line Total Dividends / DIT Specific / DIT Specific / Off-Balance Pro Rata System Jurisdictional Capital Cost Weighted No. Class of Capital Per Books Other STD Prorata Sheet Obligation Adjustments Adjusted Factor Structure Ratio Rate Cost Rate 2 Long Term Debt $,750,46 $ - $ - $,04 $ - $ (,70) $,5, $,5,2 5.5% 5.40%.0% 4 Short Term Debt,0 - (2,742) 7 - (,608), , %.47% 0.0% 5 6 Customer Deposits 2, (6,5), , % 2.% 0.06% 7 8 Preferred Stock % % 0 Common Equity 2,0,067,4 -, - (8,548),87, 0.866,8,8 42.%.% 4.75% 2 Deferred Income Taxes 62,7 - (,7) (,7) - (,2) 86, ,7.% % 4 Tax Credits - Zero Cost % % 5 6 Tax Credits - Weighted Cost,84 - (0) - (,7) 8, , 0.8% 8.54% 0.02% 7 8 $ 4,7,7 $,42 $ (4,465) $ 55 $ - $ (65,5) $ 4,47,50 $ 4,, % 6.74% Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: A-

5 SCHEDULE D-a COST OF CAPITAL - -MONTH AVERAGE Page 2 of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide the company's -month average cost of capital for the test year, the prior year, and historical base year. Type of data shown: Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY XX Projected Prior Year Ended 2// Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: S.W. Callahan/J. S. Chronister () (2) () (4) (5) (6) (7) (8) () (0) Company Common Jurisdictional Line Total Dividends / DIT Specific / Pro Rata System Jurisdictional Capital Cost Weighted No. Class of Capital Per Books Other STD Adjustments Adjusted Factor Structure Ratio Rate Cost Rate 2 Long Term Debt $,668,04 $ - $ - $ (,680) $,466, $,47,66 5.8% 5.58% 2.00% 4 Short Term Debt 2,58 - (,75) (4) 2, , %.% 0.00% 5 6 Customer Deposits,4 - - (4,546), , 2.72% 2.% 0.06% 7 8 Preferred Stock % % 0 Common Equity,0,405, (2,08),760, ,7,46 42.%.% 4.84% 2 Deferred Income Taxes 848,7 - (5,5) (7,) 745, ,08 8.2% % 4 Tax Credits - Zero Cost % % 5 6 Tax Credits - Weighted Cost,5 - (,00) 8, ,6 0.2% 8.66% 0.02% 7 8 $ 4,654,8 $, $ (5,0) $ (557,060) $ 4,04,4 $ 4,05, % 6.2% Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: A- 2

6 SCHEDULE D-a COST OF CAPITAL - -MONTH AVERAGE Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide the company's -month average cost of capital for the test year, the prior year, and historical base year. Type of data shown: Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY Projected Prior Year Ended 2// XX Historical Prior Year Ended 2//2 DOCKET No EI Witness: S.W. Callahan/J. S. Chronister () (2) () (4) (5) (6) (7) (8) () (0) Company Common Jurisdictional Line Total Dividends / DIT Specific / Pro Rata System Jurisdictional Capital Cost Weighted No. Class of Capital Per Books Other STD Adjustments Adjusted Factor Structure Ratio Rate Cost Rate 2 Long Term Debt $,705,767 $ - $ () $ (4,765) $,500, $,440,7 7.8% 6.8% 2.5% 4 Short Term Debt 6,2 - (0,47) (774) 5, ,44 0.4% 0.65% 0.00% 5 6 Customer Deposits,2 - - (2,8) 0, , % 4.56% 0.% 7 8 Preferred Stock % % 0 Common Equity,06,70 5,50 () (,580),682, ,65, %.% 4.7% 2 Deferred Income Taxes 7,60 - (6,008) (75,5) 644, ,40 6.0% % 4 Tax Credits - Zero Cost % % 5 6 Tax Credits - Weighted Cost, (,05) 8, ,47 0.% 8.84% 0.02% 7 8 $ 4,487,5 $ 5,50 $ (6,4) $ (5,48) $,52,048 $,7, % 7.2% Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: A- REVISED: MAY 7,

7 SCHEDULE D-b COST OF CAPITAL - ADJUSTMENTS Page of 2 FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION:.) List and describe the basis for the specific adjustments appearing on Schedule D-a. Type of data shown: XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY 2.) List and describe the basis for the pro-rata adjustments appearing on Schedule D-a. XX Projected Prior Year Ended 2// XX Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: S.W. Callahan/J. S. Chronister Historic Prior Test Line Class of Capital Description Base Year Year Year No. 2 4 Specific Adjustments 2 Long Term Debt Taxes Receivable $ - $ - $ - 4 Other Return Provided () IRS Prorata Requirement ADIT - -,04 6 () -,04 7 Short Term Debt 8 Deferred Clause Underrecovery (0,47) (,75) (2,742) Other Return Provided IRS Prorata Requirement ADIT (0,47) (,75) (2,7) 2 Customer Deposits IRS Prorata Requirement ADIT Common Equity Dividend Declared - Common Stock 5,50,,4 6 Other Return Provided () IRS Prorata Requirement ADIT - -, 8 5,507, 4,750 Deferred Income Taxes Non - Utility Deferred Tax Other Return Provided (5) (2) - Deferred Clause Underrecovery (6,58) (6,) (,7) 2 IRS Prorata Requirement ADIT - - (2,52) (6,00) (5,5) (,7) Investment Tax Credits Non-Utility Investment Tax Credits () Total Specific Adjustments $ (0,85) $ (,45), Supporting Schedules: Recap Schedules: 4

8 SCHEDULE D-b COST OF CAPITAL - ADJUSTMENTS Page 2 of 2 FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION:.) List and describe the basis for the specific adjustments appearing on Schedule D-a. Type of data shown: XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY 2.) List and describe the basis for the pro-rata adjustments appearing on Schedule D-a. XX Projected Prior Year Ended 2// XX Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: S.W. Callahan/J. S. Chronister Historic Prior Test Line Class of Capital Description Base Year Year Year No Pro Rata Adjustments 4 5 Other Return Provided $ (5,048) $ (,40) $ (4,48) 6 Non- Utility - Accrued Taxes / Deferred Credits (84) Non-Utility Plant (5,) (5,0) (5,02) 8 ECRC (5,86) (2,0) (4,87) Construction Work In Process (62,) (,5) (6,74) 0 Fuel Inventory (,887) (657) (6,470) Job Order Receivables OUC Transmission Line (,4) (,00) (2,747) FPL Transmission Line Acquisition Adjustment (57) (555) (5) 4 Accounts Receivable-Assoc Companies Unregulated Taxes Receivable Deferred Tax / ITC Non Utility (70) (67) (56) 7 Deferred Tax FAS Fuel / ECCR (2,565) (0,4) (5,2) Rounding - Total Pro Rata Adjustments (5,47) (557,06) (65,5) 2 2 Total Cost of Capital Adjustments $ (55,482) $ (560,406) $ (6,0) Supporting Schedules: Recap Schedules: 5

9 SCHEDULE D-2 COST OF CAPITAL - 5 YEAR HISTORY Page of 2 FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: For the subject Florida utility, all other regulated utility operations combined, all non-regulated operations combined, Type of data shown: the parent company, and on a consolidated basis, provide the year-end capital structure for investor capital XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY (i.e. common equity, preferred stock, long-term debt, and short-term debt) for the five years through the end of the XX Projected Prior Year Ended 2// projected test year. XX Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: S. Callahan/J. S. Chronister REDACTED 6 () (2) () (4) (5) (6) (7) (8) () (0) Line Amount Percent of Amount Percent of Amount Percent of Amount Percent of Amount Percent of No. Class of Capital (000) Total (000) Total (000) Total (000) Total (000) Total Florida Utility (Tampa Electric Company) 2 Common Equity $,88, % $,875, % $,7, % $ 2,0,86 5.7% $ 2,, 5.6% Preferred Stock % % % % % 4 Long-Term Debt,84,8 4.46%,768, %,70,06 46.%,70, %,87, % 5 Short-Term Debt % % % 47,458.% 86, % 6,7, %,644, %,680, %,777, % 4,04, % 7 8 Other Regulated Utility Operations (Peoples Gas System) Common Equity $ 4, % $ 7, % $ 6,8 55.5% $, % $, % 0 Preferred Stock % % % % % Long-Term Debt 6,8 44.2%, % 2, % 2,42 4.6% 2,500.84% 2 Short-Term Debt 2, % % % 6,.4% 2,87 5.4% 5, % 500, % 58, % 56, % 58, % 4 5 Non-Regulated Operations Combined (All other Subsidiaries) 6 Common Equity $ 50,8.40% $ 482,577.02% $ 4,07.52% $ 2,770 6.% 78,5 4.50% 7 Preferred Stock % % % % % 8 Long-Term Debt,0, %,07, %,040, %,040,86 8.0%,040, % Short-Term Debt % % % % 5,000.%,602, %,555, %,44, %,2, %,, % 2 Parent Company (TECO Energy, Inc.) 2 Common Equity $ 2,8,4 7.4% $ 2,,08.62% $ 2,6, % $ 2,0, % 2,, % Preferred Stock % % % % % Long-Term Debt 57, % 8, % % % % Short-Term Debt % % % % % 2,, % 2,, % 2,6, % 2,0, % 2,, % 2 Eliminations 0 Common Equity $ (2,672,8) 00.00% $ (2,650,5) 00.00% $ (2,680,682) 00.00% $ (2,55,4) 00.00% (2,7,7) 00.00% Preferred Stock 0.00% % % % % 2 Long-Term Debt 0.00% % % % % Short-Term Debt 0.00% % % % % 4 (2,672,8) 00.00% (2,650,5) 00.00% (2,680,682) 00.00% (2,55,4) 00.00% (2,7,7) 00.00% Note:Reflects per books unadjusted capital structure components Totals may be affected due to rounding Supporting Schedules: Recap Schedules:

10 SCHEDULE D-2 COST OF CAPITAL - 5 YEAR HISTORY Page 2 of 2 FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: For the subject Florida utility, all other regulated utility operations combined, all non-regulated operations combined, Type of data shown: the parent company, and on a consolidated basis, provide the year-end capital structure for investor capital XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY (i.e. common equity, preferred stock, long-term debt, and short-term debt) for the five years through the end of the XX Projected Prior Year Ended 2// projected test year. XX Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: S. Callahan/J. S. Chronister REDACTED 7 () (2) () (4) (5) (6) (7) (8) () (0) Line Amount Percent of Amount Percent of Amount Percent of Amount Percent of Amount Percent of No. Class of Capital (000) Total (000) Total (000) Total (000) Total (000) Total Consolidated Basis (TECO Energy, Inc. Consolidated) 2 Common Equity $ 2,70,5 40.% $ 2,7, % $ 2,,6 4.5% $ 2,0,86 4.2% $ 2,06, % Preferred Stock % % % % % 4 Long-Term Debt,6, %,07, % 2,72, % 2,72, %,08, % 5 Short-Term Debt 2,000 0.% % % 5,5.00% 0, 2.7% 6 5,408, % 5,40, % 5,, % 5,6, % 5,5, % Note:Reflects per books unadjusted capital structure components Totals may be affected due to rounding Supporting Schedules: Recap Schedules:

11 SCHEDULE D- SHORT-TERM DEBT Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION:.) Provide the specified data on short-term debt issues on a -month average basis for the test year, prior year, Type of data shown: and historical base year. XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY 2.) Provide a narrative description of the Company's policies regarding short-term financing. The following topics should be XX Projected Prior Year Ended 2// covered: ratio of short-term debt to total capital, plant expansion, working capital, timing of long-term financing, method XX Historical Prior Year Ended 2//2 DOCKET No EI of short-term financing (bank loans, commercial paper, etc.), and other uses of short-term financing. Witness: S.W. Callahan/J. S. Chronister (Dollars in 000's) -month Average Amount Outstanding Weighted Average Line Maturity Interest Interest During the Year Cost of No. Date Rate Expense (000) Short-term Debt 2 2 Various Dates Various $ 7 $ 6,2 0.65% 4 5 Various Dates.0% $ 52 $ 2,58.% Various Dates.50% $ 455 $,0.47% 0 Tampa Electric Company's short-term debt financing is governed by Florida Statutes and Florida Public Service Commission Order. Florida Statute Section provides for the Commission to regulate utiltites financings except for short-term debts "not more than 5 percent of the par value of the other securities of the 2 public utility then outstanding". On November 5, 2, with Docket No. 2-EI, Order No. PSC FOF-EI, the Commission authorized Tampa Electric Company to issue and sell short-term debt securities or borrow under credit facilities during in amounts not to exceed $ billion outstanding at any one time. 4 5 Tampa Electric Company does not have a stated policy regarding the ratio of short-term debt to total capital but manages short-term debt levels such that 6 liquidity and financial flexibility are maintained. Short-term debt financing is provided through Tampa Electric Company's $ million bank credit facility and its 7 $50 million accounts receivable backed credit facility. Short-term debt is utilized to fund working capital needs, including under-recovery of fuel costs and capital 8 requirements until it is appropriate to fund longer-term needs in the long-term capital markets. Short-term debt is managed to levels that provide financing flexibility should the long-term capital markets become temporarily disrupted Supporting Schedules: Recap Schedules: D-a 8

12 SCHEDULE D-4a LONG-TERM DEBT OUTSTANDING Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide the specified data on long-term debt issues on a -month average basis for the test year, Type of data shown: prior year, and historical base year. Arrange by type of issue (i.e., first mortgage bonds). XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY Projected Prior Year Ended 2// Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: J. S. Chronister/S. Callahan () (2) () (4) (5) (6) (7) (8) () (0) () (2) () -Month Discount Issuing Interest Total Unamortized Unamort. Issuing Principal Average (Premium) on Expense On Annual Expense Annual Discount Expense & Loss on Line Description, Issue Maturity Amount Sold Principal Amt. Principal Principal Life Amortization (Coupon Rate) Cost (Premium) Reacquired Debt No. Coupon Rate Date Date (Face Value) Outstanding Amount Sold Amount Sold (Years) (6+7)/(8) () x (5) ()+(0) Associated With (5) Associated With (5) % Due 2 2//0 5/5/2 $ 2,70 $ 2,70 $ - $, $ - $ 2,5 $ 2,5 $ - $ % Due 8 5/6/08 5/5/8 0,000 0,000 (2,88), ,0 2,8 (,07), % Due 42 06/05/2 06/5/42 0,000 0, , ,0 0, , % Due 6 (a) 04//0 04//6 0,000 2,08 -, ,6 2, % Due 0//2 0/5/ 5,000 5,000 5, ,850 6,05 6, % Due 6 05/2/06 05/5/6 0,000 0,000,56 4, ,75 6,565,, % Due 7 05//07 05/5/7 0,000 0,000,077, ,685, % Due 8 0//08 05/5/8 54,0 54,0 -, ,062,8-5 7.% Due 0//08 0/0/ 5,600 5,600 -, ,70, % Due 04/0/4 04/0/ 0,000 8,462-2, ,000 6,50 -, 2 Purchased in Leiu of Redemption (b) 4 4 -,444 2 Unamortized loss on reacquired debt ,586 Total $,78,00 $ 2,82 $,5 $ 4,485 $,52 $,5 Acct Acct 4 & 42 Acct 4 Accts 5 & 6 Acct 8, 8 0 & Total Long-Term Debt Average,750,462 2 Total Interest Average 4,485 (a) Matures in annual installments of $8,, beginning on 4//4 Long-Term Debt Cost Rate 5.40% 4 5 (b) Bonds Purchased in Leiu of Redemption: 6 - $75M in December $M in December $85.5M in March Totals may be affected due to rounding. Supporting Schedules: D-4b Recap Schedules: D-a

13 SCHEDULE D-4a LONG-TERM DEBT OUTSTANDING Page 2 of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide the specified data on long-term debt issues on a -month average basis for the test year, Type of data shown: prior year, and historical base year. Arrange by type of issue (i.e., first mortgage bonds). Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY XX Projected Prior Year Ended 2// Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: J. S. Chronister/S. Callahan () (2) () (4) (5) (6) (7) (8) () (0) () (2) () -Month Discount Issuing Interest Total Unamortized Unamort. Issuing Principal Average (Premium) on Expense On Annual Expense Annual Discount Expense & Loss on Line Description, Issue Maturity Amount Sold Principal Amt. Principal Principal Life Amortization (Coupon Rate) Cost (Premium) Reacquired Debt No. Coupon Rate Date Date (Face Value) Outstanding Amount Sold Amount Sold (Years) (6+7)/(8) () x (5) ()+(0) Associated With (5) Associated With (5) % Due 2 2//0 5/5/2 $ 2,70 $ 2,70 $ - $, $ - $ 2,5 $ 2,5 $ - $ % Due 8 5/6/08 5/5/8 0,000 0,000 (2,88), ,0 2,8 (,644) 4, % Due 42 06/05/2 06/5/42 0,000 0, , ,0 0, , % Due 6 04//0 04//6 0,000 0,000 -, ,6 5, % Due 0//2 0/5/ 5,000 5,000 5, ,850 6,05 4, % Due 6 05/2/06 05/5/6 0,000 0,000,56 4, ,75 6,565,, % Due 7 05//07 05/5/7 0,000 0,000,077, ,685, % Due 8 0//08 05/5/8 54,0 54,0 -, ,062, % Due (a) 0//08 0/0/ 5,600 5,600 -, , 2, Purchased in Leiu of Redemption (b) 4 4,648 2 Unamortized loss on reacquired debt 4,64 8,52 2 Total $,702,50 $ 2,47 $ 0,2 $,068 $, $,65 Acct Acct 4 & 42 Acct 4 Accts 5 & 6 Acct 8, 8 0 & 2 2 Total Long-Term Debt Average,668,042 0 Total Interest Average,068 (a) This bond is subject to Mandatory tender on Sept.,. Long-Term Debt Cost Rate 5.58% 2 The interest rate has been budgeted to reduce to.% as a result of the remarketing. 4 (b) Bonds Purchased in Leiu of Redemption: 5 - $75M in December $M in December $85.5M in March Totals may be affected due to rounding. Supporting Schedules: D-4b Recap Schedules: D-a 0

14 SCHEDULE D-4a LONG-TERM DEBT OUTSTANDING Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide the specified data on long-term debt issues on a -month average basis for the test year, Type of data shown: prior year, and historical base year. Arrange by type of issue (i.e., first mortgage bonds). Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY Projected Prior Year Ended 2// XX Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: J. S. Chronister/S. Callahan () (2) () (4) (5) (6) (7) (8) () (0) () (2) () -Month Discount Issuing Interest Total Unamortized Unamort. Issuing Principal Average (Premium) on Expense On Expense Annual Discount Expense & Loss on Line Description, Issue Maturity Amount Sold Principal Amt. Principal Principal Life Annual (Coupon Rate) Cost (Premium) Reacquired Debt No. Coupon Rate Date Date (Face Value) Outstanding Amount Sold Amount Sold (Years) Amortization () x (5) ()+(0) Associated With (5) Associated With (5) % Due 2 (a) 6//0 6/5/2 $,57 $ 45,56 $ 886 $ $ 70 $,8 $,8 $ 0 $ % Due 2 (a) 8//02 8/5/2 8,67,40 2,650, ,5, % Due 2 (a) 2//0 5/5/2 2,70 2,70 -, ,5, % Due 8 (b) 5/6/08 5/5/8 0,000 0,000 (2,88), ,0 2,8 (,82) 5, % Due (c) 06//02 0/0/ 60,685 46,68 (,066) () 2,2 2, (00) % Due 2 (c) 06//02 0/0/2 86,400 66,462, ,564, % Due 42 (d) 06/05/2 06/5/42 0,000 4, , ,87 6, ,4 4 6.% Due 6 04//0 04//6 0,000 0,000 -, ,6 5, % Due (e) 0//2 0/5/ 5,000 6,2 5, ,5, % Due 6 05/2/06 05/5/6 0,000 0,000,56 4, ,75 6,565,, 6.50% Due 7 05//07 05/5/7 0,000 0,000,077, ,685, Variable Bond Due 2 (f) 0//08 0/5/2 85,50,85-2,7. 88,04-2, % Due 8 (g) 0//08 05/5/8 54,0 54,0 -, ,062, % Due (g) 0//08 0/0/ 5,600 5,600 -, ,657 2, Purchased in Leiu of Redemption 07 07,685 2 Unamortized loss on reacquired debt 2, 2 2,60,460 0 Total $,78,7 $ 5,70 $ 00,0 $ 05,0 $,0 $,56 2 Acct Acct 4 & 42 Acct 4 Accts 5 & 6 Acct 8, 8 4 (a) Part of the 0 Debt Exchange. Issue costs are amortized over original bond life. 0 & 2 5 (b) Issued $00M on 5/6/08 and another $00M on 7/7/0 6 (c) Retired on 0//2 7 (d) Issued in June 2. Total Long-Term Debt Average,705,770 8 (e) Issued in September 2. Total Interest Average 05,0 (f) Purchased in Lieu of Redemption on /5/2 Long-Term Debt Cost Rate 6.8% 40 (g) Remarketed in March 08 into fixed rate mode. 4 Totals may be affected due to rounding. Supporting Schedules: D-4b Recap Schedules: D-a

15 SCHEDULE D-4b REACQUIRED BONDS Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Supply a statement of the company's policy on treatment of profit or loss from reacquired bonds. Detail any profit Type of data shown: or loss on reaquired bonds for the test year and prior year. XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY XX Projected Prior Year Ended 2// Historical Prior Year Ended 2//2 DOCKET No EI Witness: J. S. Chronister/S. Callahan Line No. Tampa Electric Company treats profits or loss on reacquired bonds in accordance with the Code of Federal Regulations: Title 8; Conservation of Power and Water Resources, Part 0; General Instructions, Paragraph 7. 2 Tampa Electric Company amortizes gains or losses by equal monthly amounts over the remainder of the original life of the issue retired Supporting Schedules: Recap Schedules: D-4a 2

16 SCHEDULE D-5 PREFERRED STOCK OUTSTANDING Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide the data as specified for preferred stock on a -month average basis for the test year, Type of data shown: prior year, and historical base year. XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY XX Projected Prior Year Ended 2// XX Historical Prior Year Ended 2//2 DOCKET No EI Witness: S. Callahan/J. S. Chronister () (2) () (4) (5) (6) (7) (8) () (0) () (2) () Call -Month Discount (Discount) Issuing Issuing Dollar Effective Provisions Principal Average (Premium) on Premium Expense on Expense Net Dividend Cost Line Description, Issue or Special Amount Principal Amt. Principal Associated Principal Associated Proceeds on Face Value Rate No. Coupon Rate Date Restrictions Sold Outstanding Amount Sold with (6) Amount Sold with (6) (6)+(8)-(0) (2) X (6) (2)/() Tampa Electric Company has no Preferred Stock Outstanding Supporting Schedules: Recap Schedules: D-a

17 SCHEDULE D-6 CUSTOMER DEPOSITS Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide monthly balances, interest rates, and interest payments on customer deposits for the test year, the prior year, Type of data shown: and historical base year. XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY Projected Prior Year Ended 2// Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: J. S. Chronister/S. Callahan () (2) () (4) (5) (6) (7) (8) () (0) Active Active Actual Month Customer Customer Inactive Total Interest Interest Total Payments and Line and Deposits Deposits Customer Deposits Accruals Accruals Interest Credits on No. Year at 2.00% at.00% Deposits ()+(4)+(5) at 2% at % (7) + (8) Bills 2 December $ 4,608 $,62 $,8 $,84 January 4 4,742 2,008,0,00 $ 64 $ 70 $ $ 0 4 February 4 5,4 2,4,6, March 4 5,52 2,,, April 4 5,40 2,2,, May 4 5,60 2,, 2, June 4 5,8 2,78, 2, July 4 6,06 2,48, 2, August 4 6,5 2,502,00 0, September 4 6,506 2,60,04 0, October 4 6,558 2,62,05 0, November 4 6,7 2,677,07 0, December 4 7, 2,850,4, , Month Average $ 2, Month Total $,7 $ 856 $ 2,852 $ 2,85 2 Effective Interest Rate 2 2 Month Interest Expense () divided by Total Deposits (6) 2.% Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: D-a 4

18 SCHEDULE D-6 CUSTOMER DEPOSITS Page 2 of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide monthly balances, interest rates, and interest payments on customer deposits for the test year, the prior year, Type of data shown: and historical base year. Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY XX Projected Prior Year Ended 2// Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: J. S. Chronister/S. Callahan () (2) () (4) (5) (6) (7) (8) () (0) Active Active Actual Month Customer Customer Inactive Total Interest Interest Total Payments and Line and Deposits Deposits Customer Deposits Accruals Accruals Interest Credits on No. Year at 2.00% at.00% Deposits ()+(4)+(5) at 2% at % (7) + (8) Bills 2 December 2 $,85 $,0 $, $,02 January 2,8,4,6,57 $ 60 $ 6 $ 8 $ 06 4 February 2,57,5,, March 2,776,4,4, April 2,82,62,4, May,0,4,7, June,0,504,0, July,4,562,2, August,607,6,5, September,8,72,, October,50,740,0, November 4,0,74,2, December 4,608,62,8, , 5 6 Month Average $, Month Total $,4 $ 8 $ 2,775 $ 2,775 2 Effective Interest Rate 2 2 Month Interest Expense () divided by Total Deposits (6) 2.% Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: D-a 5

19 SCHEDULE D-6 CUSTOMER DEPOSITS Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide monthly balances, interest rates, and interest payments on customer deposits for the test year, the prior year, Type of data shown: and historical base year. Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY Projected Prior Year Ended 2// XX Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: J. S. Chronister/S. Callahan () (2) () (4) (5) (6) (7) (8) () (0) Active Active Actual Month Residential Commercial Inactive Total Interest Interest Total Payments and Line and Customer Customer Customer Deposits Accruals Accruals Interest Credits on No. Year Deposits (a) Deposits (b) Deposits ()+(4)+(5) at 2% or 6% (a) at % or 7% (b) (7) + (8) Bills 2 December $ 8,6 $ 0,5 $,6 $,60 January 2 8,48 0,,, $ 44 $ 77 $ 6 $ 7 4 February 2 8,860 0,58, 2, March 2 0,057 0,4, 2, April 2 0, 0,44, 2, May 2 0, 0,505,2, June 2 0,58 0,580,, July 2 0,684 0,67,5, August 2 0,86 0,67,8, (c) 86 September 2,47 0,7, 2, October 2,7 0,80, 2, November 2,52 0,862, 2, December 2,85,0,, , Month Average $, Month Total $,884 $,68 $ 5,582 $ 5,707 2 Effective Interest Rate 2 2 Month Interest Expense () divided by Total Deposits (6) 4.56% 2 0 (a) From December through July 2 the Residential deposit interest rate was 6%. From August 2 - December 2 the Residential deposit interest rate was 2%. (b) From December through July 2 the Commercial deposit interest rate was 7%. From August 2 - December 2 the Commercial deposit interest rate was %. 2 (c) The August interest accrual was actually posted in September Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: D-a 6

20 SCHEDULE D-7 COMMON STOCK DATA Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide the most recent five year data for the company, or consolidated parent if the company is not publicly traded Type of data shown: as indicated. To the extent the requested data is available from other sources, the Company can reference and Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY attach the information to comply with the requirements of this MFR. Projected Prior Year Ended 2// XX Historical Prior Year Ended 2//2 DOCKET No EI Witness: S. Callahan/J. S. Chronister Line () (2) () (4) (5) No Pre-tax Interest Coverage Ratio (x) Earned Returns on Average Book Equity (%) 8.07% 0.45%.% 2.0% 0.7% 5 6. Book Value/Share ($) Dividends/Share ($) Earnings/Share ($) (a) Market Value/Share ($) Market/Book Ratio (%) Price/Earning Ratio (6) / (5) (a) Earnings per share is calculated using net income from continuing operations 4 Note: 2 Net Income from Continuing Operations reflects the classification of TECO Guatemala as discontinued operations Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: 7

21 SCHEDULE D-8 FINANCIAL PLANS - STOCKS AND BOND ISSUES Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION:.) If the test year is projected, provide a summary of financing plans and assumptions. Type of Data Shown: XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY 2.) Provide the company's capital structure objectives, the basis for assumptions (such as those Projected Prior Year Ended 2// for issue cost and interest rates), and any other significant assumptions. Provide a statement Historical Prior Year Ended 2//2 DOCKET No EI of the Company's policy on the timing of the entrance into capital markets. Witness: S. Callahan/J.S. Chronister Financing Plans for the Year Ending December, 4 For Bonds For Stock Date of Principal Line Issue/ Capitalization Interest Life in No. of Market Issue Costs Amount No. Type of Issue Retirement (Thousands) Rate Years Shares Price (Thousands) (Thousands) 2 Long-Term Debt 04/0/4 0, % 0 2, Capital Structure Objectives: Amount Percent of Total 6 7 Per the testimony of Witness S. Callahan, the company's target capital structure is 54% equity and 46% debt. 8 0 Interest Rate Assumptions: 2 Interest on long-term debt is estimated on the embedded cost rates for long-term debt outstanding at each month-end. Interest on short-term debt was estimated by applying an expected interest rate of.5% to the average balance of short-term debt expected to be outstanding each month of Company's Policy on the Timing of Entrance into Capital Markets: 7 8 With a goal of maintaining financial flexibility and liquidity, the timing of the Company's entrance into the capital markets is based on actual and projected short-term debt balances and capital market conditions Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: 8

22 SCHEDULE D- FINANCIAL INDICATORS - SUMMARY Page of FLORIDA PUBLIC SERVICE COMMISSION EXPLANATION: Provide financial indicators for the test year under current and proposed rates, the prior year, and historical base year. Type of data shown: XX Projected Test Year Ended 2//4 COMPANY: TAMPA ELECTRIC COMPANY XX Projected Prior Year Ended 2// XX Historical Prior Year Ended 2//2 DOCKET No EI (Dollars in 000's) Witness: S. Callahan/J. S. Chronister Line Historical Prior Current Rates Proposed No. Indicator ² 2 4 Interest Coverage Ratios: 5 Including AFUDC in Income Before Interest Charges Excluding AFUDC in Income Before Interest Charges AFUDC as a percent of Income Available for Common.80% 4.65% 8.7% 5.82% 8 Percent of Construction Funds Generated Internally.50% 88.04% 48.0% 6.% 0 Earnings Before Interest and Taxes Including AFUDC $ 4,8 $ 8,05 $ 58,4 $ 4,775 2 Earnings Before Interest and Taxes Excluding AFUDC $ 4,76 $ 7,884 $ 42,05 $ 476,00 4 Fixed Charges:¹ 5 Interest $, $ 6,4 $ 7,82 $ 7,82 6 Lease Payments 5,62 6,452 6,576 6,576 7 Sinking Funds Payments Tax on Sinking Fund Payments Total Fixed Charges $ 6,02 $ 02,566 $ 04,88 $ 04,88 2 Ratio of Earnings to Fixed Charges Including AFUDC Excluding AFUDC ¹ Excludes impact of off-balance sheet obligations. 5 ² Assumes full year impact of full revenue requirement. Does not reflect annualization of costs associated with in service projects in 4, storm damage accrual increase, etc Totals may be affected due to rounding. Supporting Schedules: Recap Schedules: