Regulatory (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Regulatory Assets and Regulatory Liabilities

Details of the regulatory assets and liabilities as of Dec. 31, 2012 and 2011 are presented in the following table:

Regulatory Assets and Liabilities
(millions)	Dec. 31, 2012		Dec. 31, 2011
Regulatory assets:
Regulatory tax asset (1)	$	67.2	$	63.6
Other:
Cost-recovery clauses		42.9		73.3
Postretirement benefit asset		276.1		252.4
Deferred bond refinancing costs (2)		9.2		11.1
Environmental remediation		46.9		30.5
Competitive rate adjustment		4.1		3.5
Other		6.5		17.4
Total other regulatory assets		385.7		388.2
Total regulatory assets		452.9		451.8
Less: Current portion		70.3		87.3
Long-term regulatory assets	$	382.6	$	364.5
Regulatory liabilities:
Regulatory tax liability (1)	$	14.6	$	16.0
Other:
Cost-recovery clauses		73.9		61.4
Transmission and delivery storm reserve		50.4		43.6
Deferred gain on property sales (3)		3.4		5.0
Provision for stipulation and other		1.0		0.8
Accumulated reserve - cost of removal		615.3		578.8
Total other regulatory liabilities		744.0		689.6
Total regulatory liabilities		758.6		705.6
Less: Current portion		106.7		86.2
Long-term regulatory liabilities	$	651.9	$	619.4

(1) Primarily related to plant life and derivative positions.

(2) Amortized over the term of the related debt instruments.

(3) Amortized over a 5-year period with various ending dates.

Regulatory Assets and Related Recovery Period

                      The following table further details the regulatory assets and the related recovery periods:

Regulatory assets
(millions)	Dec. 31, 2012		Dec. 31, 2011
Clause recoverable (1)	$	47.0	$	76.8
Components of rate base (2)		279.1		264.9
Regulatory tax assets (3)		67.2		63.6
Capital structure and other (3)		59.6		46.5
Total	$	452.9	$	451.8

(1) To be recovered through cost-recovery clauses approved by the FPSC on a dollar-for-dollar basis in the next year.

(2) Primarily reflects allowed working capital, which is included in rate base and earns a rate of return as permitted by the FPSC.

(3) “Regulatory tax assets” and “Capital structure and other” regulatory assets have a recoverable period longer than a fiscal year and are recognized over the period authorized by the regulatory agency. Also included are unamortized loan costs, which are amortized over the life of the related debt instruments. See footnotes 1 and 2 in the prior table for additional information.

TAMPA ELECTRIC CO [Member]

Schedule of Regulatory Assets and Regulatory Liabilities

Details of the regulatory assets and liabilities as of Dec. 31, 2012 and 2011 are presented in the following table:

Regulatory Assets and Liabilities
(millions)	Dec. 31, 2012		Dec. 31,   2011
Regulatory assets:
Regulatory tax asset (1)	$	67.2	$	63.6
Other:
Cost-recovery clauses		42.9		73.3
Postretirement benefit asset		276.1		252.4
Deferred bond refinancing costs (2)		9.2		11.1
Environmental remediation		46.9		30.5
Competitive rate adjustment		4.1		3.5
Other		6.5		17.4
Total other regulatory assets		385.7		388.2
Total regulatory assets		452.9		451.8
Less: Current portion		70.3		87.3
Long-term regulatory assets	$	382.6	$	364.5
Regulatory liabilities:
Regulatory tax liability (1)	$	14.6	$	16.0
Other:
Cost-recovery clauses		73.9		61.4
Transmission and delivery storm reserve		50.4		43.6
Deferred gain on property sales (3)		3.4		5.0
Provision for stipulation and other		1.0		0.8
Accumulated reserve - cost of removal		615.3		578.8
Total other regulatory liabilities		744.0		689.6
Total regulatory liabilities		758.6		705.6
Less: Current portion		106.7		86.2
Long-term regulatory liabilities	$	651.9	$	619.4

(1) Primarily related to plant life and derivative positions.

(2) Amortized over the term of the related debt instruments.

(3) Amortized over a 5-year period with various ending dates.

Regulatory Assets and Related Recovery Period

The following table further details the regulatory assets and the related recovery periods:

Regulatory assets
(millions)	Dec. 31, 2012		Dec. 31,   2011
Clause recoverable (1)	$	47.0	$	76.8
Components of rate base (2)		279.1		264.9
Regulatory tax assets (3)		67.2		63.6
Capital structure and other (3)		59.6		46.5
Total	$	452.9	$	451.8

 (1) To be recovered through cost-recovery clauses approved by the FPSC on a dollar-for-dollar basis in the next year.

(2) Primarily reflects allowed working capital, which is included in rate base and earns a rate of return as permitted by the FPSC.

(3) “Regulatory tax assets” and “Capital structure and other” regulatory assets have a recoverable period longer than a fiscal year and are recognized over the period authorized by the regulatory agency. Also included are unamortized loan costs, which are amortized over the life of the related debt instruments. See footnotes 1 and 2 in the prior table for additional information.