News Release

TECO Energy shareholders approve merger with Emera Inc.

TAMPA, December 3, 2015

Shareholders of TECO Energy (NYSE: TE) today voted to approve the proposed merger with Emera Inc.

The proposed merger, which is subject to regulatory approvals and certain other customary closing conditions, is expected to close in mid-2016.

TECO Energy Inc. (NYSE: TE) is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico. Tampa Electric serves more than 715,000 customers in West Central Florida; Peoples Gas System serves more than 360,000 customers across Florida; and New Mexico Gas Co. serves more than 515,000 customers across New Mexico.

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 TECO Energy’s current expectations and assumptions, and it 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 risks and uncertainties relating to the following: the risk that Emera or TECO Energy may be unable to obtain governmental and regulatory approvals required for the proposed transaction, or required governmental and regulatory approvals may delay the proposed transaction; the risk that a condition to the closing of the proposed transaction may not be satisfied; and the timing to consummate the proposed transaction. Additional information is contained under "Risk Factors" in TECO Energy, Inc.'s Quarterly Report on Form 10-Q for the period ended Sept. 30, 2015, as updated in subsequent filings with the SEC.