News Release

TECO Energy declares quarterly dividend

TAMPA, November 1, 2007

At its meeting today, the Board of Directors of TECO Energy, Inc. declared a dividend of 19.5 cents per share on the company’s common stock. The dividend is payable November 28 to shareholders of record as of November 15.

TECO Energy, Inc. (NYSE: TE) is an integrated energy-related holding company with regulated utility businesses, complemented by a family of unregulated businesses. Its principal subsidiary, Tampa Electric Company, is a regulated utility with both electric and gas divisions (Tampa Electric and Peoples Gas System). Other subsidiaries are engaged in waterborne transportation, coal and synthetic fuel production and electric generation and distribution in Guatemala.