Short-Term Debt

9 Months Ended

Sep. 30, 2011

Short-Term Debt

6. Short-Term Debt

At Sep. 30, 2011 and Dec. 31, 2010, the following credit facilities and related borrowings existed:

Credit Facilities

	Sep. 30, 2011						Dec. 31, 2010
	Credit Facilities		Borrowings Outstanding (1)		Letters of Credit Outstanding		Credit Facilities		Borrowings Outstanding (1)		Letters of Credit Outstanding
(millions)
Tampa Electric Company:
5-year facility(2)	$	325.0	$	0.0	$	0.7	$	325.0	$	5.0	$	0.7
1-year accounts receivable facility		150.0		0.0		0.0		150.0		7.0		0.0
TECO Energy/TECO Finance:
5-year facility (2)(3)		200.0		0.0		0.0		200.0		0.0		6.7
Total	$	675.0	$	0.0	$	0.7	$	675.0	$	12.0	$	7.4

(1) Borrowings outstanding are reported as notes payable.

(2) This 5-year facility matures May 9, 2012. See Note 16 for information on an amendment to this facility.

(3) TECO Finance is the borrower and TECO Energy is the guarantor of this facility.

These credit facilities require commitment fees ranging from 7.0 to 35.0 basis points. The weighted-average interest rate on outstanding amounts payable under the credit facilities at Dec. 31, 2010 was 0.64%.

Tampa Electric Company Accounts Receivable Facility

On Feb. 18, 2011, Tampa Electric Company and TEC Receivables Corporation (TRC), a wholly-owned subsidiary of Tampa Electric Company, amended their $150 million accounts receivable collateralized borrowing facility, entering into Omnibus Amendment No. 9 to the Loan and Servicing Agreement with certain lenders named therein and Citicorp North America, Inc. as Program Agent. The amendment (i) extends the maturity date to Feb. 17, 2012, (ii) provides that TRC will pay program and liquidity fees, which will total 70 basis points, (iii) provides that the interest rates on the borrowings will be based on prevailing asset-backed commercial paper rates, unless such rates are not available from conduit lenders, in which case the rates will be at an interest rate equal to, at Tampa Electric Company's option, either Citibank's prime rate (or the federal funds rate plus 50 basis points, if higher) or a rate based on the London interbank offered rate (if available) plus a margin and (iv) makes other technical changes.

Tampa Electric Co [Member]

Short-Term Debt

6. Short-Term Debt

At Sep. 30, 2011 and Dec. 31, 2010, the following credit facilities and related borrowings existed:

	Sep. 30, 2011						Dec. 31, 2010
					Letters						Letters
	Credit		Borrowings		of Credit		Credit		Borrowings		of Credit
(millions)	Facilities		Outstanding (1)		Outstanding		Facilities		Outstanding (1)		Outstanding
Tampa Electric Company:
5-year facility(2)	$	325.0	$	0.0	$	0.7	$	325.0	$	5.0	$	0.7
1-year accounts receivable facility		150.0		0.0		0.0		150.0		7.0		0.0
Total	$	475.0	$	0.0	$	0.7	$	475.0	$	12.0	$	0.7

(1) Borrowings outstanding are reported as notes payable.

(2) This 5-year facility matures May 9, 2012. See Note 14 for information on an amendment to this facility.

These credit facilities require commitment fees ranging from 7.0 to 35.0 basis points. The weighted-average interest rate on outstanding amounts payable under the credit facilities at Dec. 31, 2010 was 0.64%.

Tampa Electric Company Accounts Receivable Facility

On Feb. 18, 2011, Tampa Electric Company and TRC, a wholly-owned subsidiary of Tampa Electric Company, amended their $150 million accounts receivable collateralized borrowing facility, entering into Omnibus Amendment No. 9 to the Loan and Servicing Agreement with certain lenders named therein and Citicorp North America, Inc. as Program Agent. The amendment (i) extends the maturity date to Feb. 17, 2012, (ii) provides that TRC will pay program and liquidity fees, which will total 70 basis points, (iii) provides that the interest rates on the borrowings will be based on prevailing asset-backed commercial paper rates, unless such rates are not available from conduit lenders, in which case the rates will be at an interest rate equal to, at Tampa Electric Company's option, either Citibank's prime rate (or the federal funds rate plus 50 basis points, if higher) or a rate based on the London interbank offered rate (if available) plus a margin and (iv) makes other technical changes.