TECO Energy
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| Type | Public (NYSE: TE) |
|---|---|
| Headquarters | 702 North Franklin St. Tampa, FL 33602 |
| Area served | FL |
| Key people | Sherrill W. Hudson, CEO |
| Industry | Electric Producer, Distributor & Utility Natural Gas Utility Coal Processing & Transport |
| Products | Electricity, Natural Gas, Coal |
| Revenue | $3.54 billion (2007)[1] |
| Net income | ▲ $413.2 million (2007)[1] |
| Employees | 4,300 (2007) |
| Subsidiaries | Tampa Electric Peoples Gas System TECO Coal TECO Guatemala |
| Website | TECOEnergy.com |
TECO Energy, Inc., through its subsidiaries, engages in diversified energy-related operations in the United States. Its activities primarily include generation, purchase, transmission, distribution, and sale of electric energy.
The company provides retail electric services to approximately 668,000 customers in the west central Florida. It also purchases, distributes, and sells natural gas to approximately 334,000 customers, including residential, commercial, industrial, and electric power generation customers in Florida. In addition, TECO Energy owns interests in coal processing and loading facilities, synthetic fuel production facilities, and mineral rights, as well as owns or operates surface and underground mines in eastern Kentucky, Tennessee, and Virginia; and provides waterborne transportation, storage, and transfer services of coal and other dry-bulk commodities.
The company was founded in 1899 and is headquartered in Tampa, Florida.[1]
Ties to the American Legislative Exchange Council
TECO Energy has been a corporate funder of the American Legislative Exchange Council (ALEC).[2] See ALEC Corporations for more.
| About ALEC |
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ALEC is a corporate bill mill. It is not just a lobby or a front group; it is much more powerful than that. Through ALEC, corporations hand state legislators their wishlists to benefit their bottom line. Corporations fund almost all of ALEC's operations. They pay for a seat on ALEC task forces where corporate lobbyists and special interest reps vote with elected officials to approve “model” bills. Learn more at the Center for Media and Democracy's ALECexposed.org, and check out breaking news on our PRWatch.org site.
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TECO subsidiary agrees to settlement in mining lawsuit
In May 2009, Clintwood Elkhorn Mining, a subsidiary of TECO Energy, agreed to pay $250,000 for mining around streams in Pike County, KY without a permit. The illegal mining was discovered in spring 2008 by members of the Sierra Club and Kentuckians for the Commonwealth. The mining company had applied for a permit but had started work without it.
The environmental groups filed the lawsuit in September 2008, citing violations of the Clean Water Act. The settlement requires the mining company to spend most of the settlement amount on restoring Hurricane Creek, which is part of the Levisa Fork Watershed. The state Department of Fish and Wildlife Resources has identified it as having siltation and other problems, and may contribute an additional $750,000 to the project, subject to approval of its board.[3]
Political contributions
TECO is one of the largest energy company contributors to both Republican and Democratic candidates for Congress. These contributions total $139,650 to the 110th US Congress (as of the third quarter), the largest of which has been to Sen. Mitch McConnell (R-KY). Senator McConnell, for his part, has consistently voted with the coal industry on energy, war and climate bills.[1][citation needed]
Contributions like this from fossil fuel companies to members of Congress are often seen as a political barrier to pursuing clean energy.[citation needed]
More information on coal industry contributions to Congress can be found at FollowtheCoalMoney.org, a project sponsored by the nonpartisan, nonprofit Oil Change International and Appalachian Voices.[citation needed]
Power portfolio
Out of its total 4,738 MW of electric generating capacity in 2005 (0.44% of the U.S. total), TECO produced 50.1% from natural gas, 45.4% from coal, and 4.6% from oil. All of TECO's power plants are in Florida; 84.8% of TECO's generating capacity comes from power plants in Hillsborough County.[4]
Existing coal-fired power plants
TECO owned 6 coal-fired generating stations in 2005, with 2,149 MW of capacity. Here is a list of TECO's coal power plants:[4][5][6]
| Plant Name | State | County | Year(s) Built | Capacity | 2007 CO2 Emissions | 2006 SO2 Emissions |
|---|---|---|---|---|---|---|
| Big Bend | FL | Hillsborough | 1970, 1973, 1976, 1985 | 1823 MW | 10,700,000 tons | 13,977 tons |
| Polk | FL | Polk | 1996 | 326 MW | 3,042,000 tons | N/A |
In 2006, TECO's 2 coal-fired power plants emitted 13.7 million tons of CO2 and at least 14,000 tons of SO2.
Coal lobbying
Teco Energy is a member of the American Coal Ash Association (ACAA), an umbrella lobbying group for all coal ash interests that includes major coal burners Duke Energy, Southern Company and American Electric Power as well as dozens of other companies. The group argues that the so-called "beneficial-use industry" would be eliminated if a "hazardous" designation was given for coal ash waste.[7]
ACAA set up a front group called Citizens for Recycling First, which argues that using toxic coal ash as fill in other products is safe, despite evidence to the contrary.[7]
Existing Coal Mines
- Bearwallow Mine
- Bee Branch Mine
- Burke Branch Tipple
- E3-1 Mine
- E4-1 Mine
- Pe Southern Pike Coal Mine
- Pe 4 Underground Mine
- Premier Elkhorn Mine 2
- Premier Elkhorn Mine 42
- Premier Elkhorn Mine 49
Articles and Resources
References
- ↑ 1.0 1.1 1.2 TECO Energy Inc., BusinessWeek Company Insight Center, accessed Aug. 2008.
- ↑ Clearinghouse on Environmental Advocacy and Research, project of the Environmental Working Group, Information of the American Legislative Exchange Council, archived organizational profile, archived by Wayback Machine December 2, 2000, accessed August 19, 2011
- ↑ Andy Mead, "Settlement reached in mining suit," Lexington Herald-Leader, May 7, 2009.
- ↑ 4.0 4.1 Existing Electric Generating Units in the United States, 2005, Energy Information Administration, accessed April 2008.
- ↑ Environmental Integrity Project, Dirty Kilowatts: America’s Most Polluting Power Plants, July 2007.
- ↑ Dig Deeper, Carbon Monitoring for Action database, accessed Aug. 2008.
- ↑ 7.0 7.1 Coal-Fired Utilities to American Public: Kiss my Ash DeSmogBlog.com & PolluterWatch, October 27, 2010.
