TECO Energy CEO to present at Merrill Lynch Global Power & Gas Leaders Conference
TAMPA, September 18, 2008
TECO Energy, Inc. (NYSE:TE) Chairman and CEO Sherrill Hudson will make a presentation in a panel discussion at the 2008 Merrill Lynch Global Power & Gas Leaders Conference in New York on Wednesday, September 24, 2008 at 9:15 AM Eastern time.
An audio Webcast of the live presentation will be accessible through a link on TECO Energy’s home page at www.tecoenergy.com. The Webcast will be available for replay within 24 hours of the live event and will be available for 14 days following the presentation for those unable to listen to the live Webcast. The slides that will accompany the Webcast will be available on the Investors page of TECO Energy’s Web site.
In conjunction with this presentation and in other meetings with investors in September, TECO Energy is reaffirming its previously updated 2008 earnings per share forecast to be in a range between $0.80 and $0.90 per share, excluding any charges or gains. As discussed in TECO Energy’s July 31, 2008 earning release, this range assumes a continued weak Florida economy and housing market; includes the effects of mild and rainy summer weather, which reduced energy sales at Tampa Electric. TECO Guatemala has had strong year-to-date operating performance at both the power plants and its DECA II distribution and affiliated company investments. This is now expected to be at least partially offset by the new significantly lower Value Added Distribution tariff (VAD) implemented by the Guatemalan regulatory body effective Aug. 1, 2008, which is expected to result in 2008 earnings for TECO Guatemala’s in line with 2007 levels.
TECO Energy, Inc. (NYSE: TE) is an energy-related holding company. Its principal subsidiary, Tampa Electric Company, is a regulated utility in Florida with both electric and gas divisions (Tampa Electric and Peoples Gas System). Other subsidiaries include TECO Coal, which owns and operates coal production facilities in Kentucky and Virginia, and TECO Guatemala, which is engaged in electric power generation and distribution and energy-related businesses in Guatemala.
Note: This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Actual results may differ materially from those forecasted. The forecasted results are based on the company’s current expectations and assumptions, and the company does not undertake to update that information or any other information contained in this press release, except as may be required by law. Factors that could impact actual results include: regulatory actions by federal, state or local authorities; unexpected capital needs or unanticipated reductions in cash flow that affect liquidity; the availability of adequate rail transportation capacity for the shipment of TECO Coal’s production; general economic conditions affecting energy sales at the utility companies; economic conditions, both national and international, affecting the Florida economy and demand for TECO Coal’s production; weather variations and changes in customer energy usage patterns affecting sales and operating costs at Tampa Electric and Peoples Gas and the effect of extreme weather conditions or hurricanes, which are common during the summer months; operating conditions, commodity price and operating cost changes affecting the production levels and margins at TECO Coal, fuel cost recoveries and cash at Tampa Electric or natural gas demand at Peoples Gas; the ability of TECO Energy’s subsidiaries to operate equipment without undue accidents, breakdowns or failures; and the ultimate outcome of efforts to revise the significantly lower EEGSA VAD tariff rates implemented by regulatory authorities in Guatemala effective Aug. 1, 2008 affecting TECO Guatemala’s results. Additional information is contained under “Risk Factors” in TECO Energy, Inc.’s Annual Report on Form 10-K for the period ended Dec. 31, 2007, as updated by the information contained in Item 1A of Part II of the Quarterly Report on Form 10-Q for the period ended Jun. 30, 2008.