Residential Home Energy Audit Survey

Cenadmin

Informations

• Publié par: Vuin
• Nombre de lectures: 10
• Langue: English

Extrait

TECO Energy Deutsche Bank Energy and Utilities Conference

Miami, Florida

May 31, 2007

Forward Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this presentation contains statements that are forward-looking, such as statements relating to growth projections and trends as well as capital spending, cash generation and liquidity. Such statements are based on the company’s current expectations and the company does not undertake any obligation to update or revise such statements. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by TECO Energy.

For more information regarding these risks and uncertainties, review the Risk Factors section of the TECO Energy Annual Report on form 10-K for the period ended Dec. 31, 2006.

2

Commitments to Investors

„Reduce risk to earnings and cash flow from merchant power –Merchant power exit essentially completed 2005

„Retire parent level debt

„Grow Non-GAAP earnings from 2005 base (excluding charges, gains and synfuel) –2005 –$0.83 per share –2006 –$0.97 per share –2007 –guidance $0.97 to $1.07

„Regular communication with the financial community

3

Cash Priorities

„Reduce parent debt –Meet TECO Energy 2007 debt retirements without refinancing „Annual parent interest payments now $60 million below 2004 –Retire additional debt with available free cash „Commitment to an incremental $500 million of accelerated parent debt repayment through 2010 „Potential additional repayment of $200 million 2011 – 2012

„in the core businesses to support earnings growthInvest –Equity contributions to Tampa Electric –Smaller incremental unregulated investments

4

„

„

„

„

„

„

Recent Financial Accomplishments

Repaid $637 million parent level debt since 2005, including all 2007 maturities

$52 million 2006 equity contribution to Tampa Electric –$80 million planned for 2007

$30 million pension contribution

TECO Energy and Tampa Electric credit facilities extended – unsecuredTECO Energy –

Positive rating agency actions –Moody’s – upgrade to Ba1, Fitch – outlook positive

Increased common dividend – 2.6%

5

„

„

„

„

Tampa Electric

658,000 retail electric customers

2.5% customer growth forecast

2.8% weather-normalized energy sales growth forecast

Forecast reflects lower per residential customer energy usage

6

„

„

„

„

Tampa Electric Capital Investments

Environmental compliance investments –Big Bend SCRs total project cost $330 million „Big Bend Unit 4 in service May 2007 „One additional unit annually through 2010

T&D infrastructure investment –$35 million annually

FPSC mandated T&D system storm hardening –$20 million annually

Central Florida transmission system upgrades –$25 million annually to meet NERC reliability requirements

7

Tampa Electric Capacity Requirements

„Customer growth drives 150 MW / year need

„ 2012Peaking capacity needed 2009 – / baseload after 2012

„Expected baseload option –self-build 630 MW solid fuel IGCC unit –Diversifies fuel supply –Existing site –$133 million of tax credits awarded by DOE / IRS

„Potential cost for peaking capacity and IGCC in excess of $1.5 billion

„Florida legislative support for IGCC –Provides cash AFUDC during construction –Provides for first-year revenue requirements through a base-rate surcharge –Approved by House and Senate

8

Tampa Electric – Polk Power Station IGCC

„

„

„

„

Generated most power from IGCC in the world

10 years of successful operation –Over 13,000 gigawatt hours generated –Over 5 million tons of coal gasified

Dispatches first on Tampa Electric’s system

Cleanest coal fired power plant in North America

9

Tampa Electric Capital Expenditures

$1,200

$1,000

$800

$600

$400

$200

$-

2007

2008

2009

2010

2011

Without Generation Expansion   With Generation Expansion

2012

2013

10

„

„

„

„

Peoples Gas

335,000 natural gas customers

Serves major metropolitan areas of Florida

Consistent customer growth

Expect 2.5% customer growth in 2007 –Florida housing market driven

11