SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-K
     (Mark One)
       X       Annual  Report Pursuant  to  Section  13  or  15(d)  of  the
               Securities Exchange Act of 1934

               For the fiscal year ended December 31, 1993

                                       OR

               Transition  Report Pursuant to  Section 13  or 15(d)  of the
               Securities Exchange Act of 1934

               For the transition period from _________ to ________ 
               Commission File Number 1-5007

                             TAMPA ELECTRIC COMPANY
             (Exact name of registrant as specified in its charter)

                 FLORIDA                             59-0475140
     (State or other jurisdiction of              (I.R.S. Employer
     incorporation or organization)               Identification Number)

               TECO Plaza
          702 N. Franklin Street
             Tampa, Florida                             33602
          (Address of principal                       (Zip Code)
            executive offices)

     Registrant's telephone number, including area code: (813)228-4111

     Securities registered pursuant to Section 12(b) of the Act:  NONE

     Securities registered pursuant to Section 12(g) of the Act:  NONE

     Indicate  by check  mark  whether the  registrant  (1) has  filed  all
     reports required to be filed by  Section 13 or 15(d) of the Securities
     Exchange  Act of  1934 during  the preceding  12 months  (or  for such
     shorter period that the registrant was required to file such reports),
     and (2) has  been subject to such filing requirements  for the past 90
     days.
                             YES    X    NO        

     Indicate  by check mark if disclosure of delinquent filers pursuant to
     Item 405  of Regulation S-K is  not contained herein, and  will not be
     contained, to the best of  registrant's knowledge, in definitive proxy
     or  information statements incorporated  by reference  in Part  III of
     this Form 10-K or any amendment to this Form 10-K.   X  

     The aggregate market value  of the voting stock held  by nonaffiliates
     of the registrant as of February 28, 1994 was zero.

     As  of February  28, 1994,  there were 10  shares of  the registrant's
     common  stock  issued   and  outstanding,  all  of  which  were  held,
     beneficially and of record, by TECO Energy, Inc.

                       DOCUMENTS INCORPORATED BY REFERENCE
                                      None




                                     PART I

     Item 1.  BUSINESS.

          Tampa  Electric  Company  (Tampa  Electric or  the  company)  was
     incorporated  in Florida in 1899 and was  reincorporated in 1949. As a
     result  of restructuring in 1981,  the company became  a subsidiary of
     TECO Energy, Inc. (TECO  Energy), a diversified energy-related holding
     company. The company is  a public utility operating wholly  within the
     state  of  Florida   and  is  engaged  in  the  generation,  purchase,
     transmission,  distribution and  sale of  electric energy.  The retail
     territory served comprises an area of about 2,000 square miles in West
     Central Florida,  including substantially  all of  Hillsborough County
     and parts  of Polk, Pasco  and Pinellas Counties and  has an estimated
     population of over  one million. The principal  communities served are
     Tampa,  Winter Haven,  Plant  City and  Dade  City. In  addition,  the
     company engages in wholesale sales to other utilities which consist of
     broker economy,  requirements and  other types of  service of  varying
     duration  and  priority. The  company  has  three electric  generating
     stations in or near Tampa and two electric generating stations located
     near  Sebring, a  city located  in Highlands  County in  South Central
     Florida.

          The company at Dec. 31, 1993 had  3,215 employees, of which 1,295
     were  represented  by  the  International  Brotherhood  of  Electrical
     Workers (IBEW)  and  382  by  the Office  and  Professional  Employees
     International Union.

          In  1993,  approximately  44   percent  of  the  company's  total
     operating  revenue was  generated from  residential sales,  29 percent
     from commercial sales, 10 percent from industrial sales and 17 percent
     from other sales including bulk power sales for resale. See the detail
     of revenue per customer class on page 20.

          No  material part of the  company's business is  dependent upon a
     single customer or  a few customers,  the loss of any  one or more  of
     whom would have  a materially  adverse effect on  the company,  except
     that 8  customers in the phosphate industry accounted for 5 percent of
     operating revenues in 1993.

          The company's business  is not  a seasonal one,  but winter  peak
     loads  are  experienced  due  to   fewer  daylight  hours  and  colder
     temperatures,  and summer peak loads are experienced due to use of air
     conditioning and other cooling equipment.


     Regulation

          The retail operations of the company are regulated by the Florida
     Public Service  Commission (FPSC), which has  jurisdiction over retail
     rates,  the quality  of  service, issuances  of securities,  planning,
     siting and  construction  of facilities,  accounting and  depreciation
     practices and other matters.






                                        2




          The company is also  subject to regulation by the  Federal Energy
     Regulatory Commission (FERC) in  various respects including  wholesale
     power sales, certain wholesale power purchases,  transmission services
     and accounting and depreciation practices.

          Federal, state and local environmental laws and regulations cover
     air  quality,  water quality,  land use,  power plant,  substation and
     transmission line siting, noise and aesthetics, solid waste  and other
     environmental matters. See Environmental Matters on pages 6 and 7.

          TECO Transport & Trade Corporation (TECO Transport) and TECO Coal
     Corporation  (TECO  Coal),  subsidiaries  of TECO  Energy,  sell  coal
     transportation  services and coal to the company and to third parties.
     The transactions  between the  company and  these  affiliates and  the
     prices paid by the company  are subject to regulation by the  FPSC and
     FERC and  any charges deemed to  be imprudently incurred  would not be
     allowed  to be  passed  on to  the  company's customers.  See  Utility
     Regulation on pages 14 and 15.

          The company's  retail business is substantially  free from direct
     competition with other  electric utilities, municipalities  and public
     agencies.  However, greater levels of competition, particularly in the
     wholesale business, are  developing and  may have some  impact on  the
     company.


     Retail Pricing

          The FPSC's  pricing objective  is to  set rates  at a  level that
     allows the  utility to  collect total revenues  (revenue requirements)
     equal  to its cost of providing service, including a reasonable return
     on invested capital.

          The  basic  costs,  other  than  fuel  and  purchased  power,  of
     providing electric service are recovered through base rates, which are
     designed to recover the costs of owning, operating and maintaining the
     utility  system.   These  costs  include  operations  and  maintenance
     expenses, depreciation and taxes, as well as a return on the company's
     investment  in assets used  and useful  in providing  electric service
     (rate  base).  The  rate  of  return  on  rate  base  is  intended  to
     approximate the company's weighted cost of capital, which includes its
     costs for debt  and preferred stock,  deferred income taxes at  a zero
     cost  rate and  an allowed  return on common  equity. Base  prices are
     determined in price setting hearings that occur at irregular intervals
     at the initiative of the company, the FPSC or other parties.

          Fuel  and certain  purchased  power costs  are recovered  through
     levelized  monthly charges  established  pursuant to  the FPSC's  fuel
     adjustment and  cost recovery clauses. These charges,  which are reset
     semi-annually in an FPSC hearing, are based on estimated costs of fuel
     and  purchased power  and estimated   customer  usage for  the ensuing
     six-month period, with a true-up adjustment to reflect the variance of
     actual costs from the projected charges for prior periods.

          The FPSC may  disallow recovery  of any costs  that it  considers
     imprudently incurred.



                                        3




          Certain non-fuel costs  and the accelerated recovery of the costs
     of conversion from oil-fired to coal-fired generation at the company's
     Gannon  Station are recovered  through the FPSC's  oil backout clause.
     Accelerated  recovery  of this  project's  costs  is obtained  through
     accelerated  depreciation, which  is permitted  in an amount  equal to
     two-thirds of the fuel savings of the project. The remaining one-third
     of the savings is realized on a current basis by customers through the
     fuel  adjustment clause.  Prior  to Oct.  27,  1992, the  company  had
     assigned its right  to the oil  backout tariffs to the  Gannon Project
     Trust,  the owner of the conversion assets. On Oct. 27, 1992, pursuant
     to  FPSC approval,  the Gannon  Project Trust  was terminated  and the
     Trust's  net  assets and  debt were  placed  on the  company's balance
     sheet. Amounts collected in periods subsequent to Oct. 27, 1992, under
     the  oil backout  tariff  are  included  in  the  company's  operating
     revenues  and continue to  have no effect  on net income.  See further
     discussion in Note A page 25.


     Fuel

          About  98 percent of the  company's generation for  1993 was from
     its coal-fired units.  The same level is anticipated for 1994.

          The  company's average fuel cost per million BTU and average cost
     per ton of coal burned have been as follows:


          Average cost 
           per million BTU:              1993    1992    1991    1990    1989

           Coal                        $ 2.26  $ 2.23  $ 2.22  $ 2.11  $ 2.02
           Oil                         $ 2.69  $ 2.76  $ 3.21  $ 5.21  $ 4.35
           Gas                         $ 3.52  $ 2.43  $ 1.98      --      --
           Composite                   $ 2.27  $ 2.24  $ 2.25  $ 2.14  $ 2.03

          Average cost per ton of
            coal burned                $54.55  $53.65  $53.87  $51.07  $49.30


          The  company's Gannon  Station  burns low-sulfur  coal; Big  Bend
     Station  burns coal of a somewhat higher sulfur content; Hookers Point
     Station burns low-sulfur oil; Phillips Station burns oil of a somewhat
     higher  sulfur content; and Dinner  Lake Station, which  was placed on
     long-term reserve standby in March 1994, burns natural gas and oil. 

          Coal. The  company burned approximately 6.6 million  tons of coal
     during  1993 and estimates that its coal consumption will be 7 million
     tons  for 1994. During  1993, the  company purchased  approximately 74
     percent  of its coal under long-term contracts with five suppliers and
     26 percent of its  coal in the spot market and under intermediate-term
     purchase  agreements.  About  one-third  of the  company's  1993  coal
     requirements  were supplied by TECO  Coal.  During  December 1993, the
     average delivered  cost of coal (including  transportation) was $51.61
     per ton,  or $2.13 per  million BTU.   The company  expects to  obtain
     approximately  80 percent of its coal requirements in 1994 under long-
     term  contracts with  six  suppliers, with  the  remaining 20  percent
     available  either  in  the  spot  market  or  under  intermediate-term
     purchase agreements.   The company's long-term  coal contracts provide

                                        4




     for revisions  in the base price to reflect changes in a wide range of
     cost  factors  and  for  suspension  or  reduction  of  deliveries  if
     environmental regulations should prevent  the company from burning the
     coal supplied,  provided that  a good faith  effort has  been made  to
     continue burning such coal. The company estimates that about one-third
     of its  1994 coal requirements  will be  supplied by TECO  Coal.   For
     information  concerning  transactions with  affiliated  companies, see
     Related Party Transactions on page 32.

          In  1993, about  72  percent of  the  company's coal  supply  was
     deep-mined  and approximately  28 percent  was surface-mined.  Federal
     surface-mining laws and regulations have not had  any material adverse
     impact on the company's coal supply or  results of its operations. The
     company, however, cannot  predict the  effect on the  market price  of
     coal of any  future mining  laws and regulations.  Although there  are
     reserves  of  surface-mineable  coal  dedicated by  suppliers  to  the
     company's  account, high quality coal reserves in Kentucky that can be
     economically surface-mined are  being depleted and in the  future more
     coal will be deep-mined. This  trend will not necessarily result in  a
     substantial increase in costs to the company.

          Oil. The company has a supply agreement through Aug. 31, 1994 for
     No. 2 fuel oil and  a supply agreement through Aug. 31, 1994 for No. 6
     fuel  oil  for its  four combustion  turbine  units and  Hookers Point
     Station  at prices based on Gulf  Coast Cargo spot prices. The company
     has  a supply agreement through July  31, 1994 for No.  6 fuel oil for
     Phillips Station at a price based on Gulf Coast Cargo spot prices. The
     price for No. 2 fuel oil deliveries taken in December  1993 was $25.74
     per barrel, or $4.44 per million  BTU. The price for the higher sulfur
     No. 6  fuel  oil deliveries  taken  in December  1993 was  $12.33  per
     barrel, or $1.95 per million BTU.

          Gas.  The company has supply agreements through Oct. 31, 2000 for
     natural  gas  for its  Dinner Lake  Station,  was placed  on long-term
     reserve  standby.  The  price  for  natural  gas  deliveries taken  in
     September 1993 was $3.51 per million cubic feet, or  $3.51 per million
     BTU. There were no natural gas deliveries taken in the fourth  quarter
     of 1993. 

     Franchises

          The company holds franchises and other rights that, together with
     its charter powers, give it the right to carry on  its retail business
     in  the localities it serves.  The franchises are  irrevocable and are
     not  subject to amendment without the consent of the company although,
     in certain events, they are subject to forfeiture.

          Florida municipalities are prohibited from granting any franchise
     for a term  exceeding 30  years. If a  franchise is not  renewed by  a
     municipality, the  franchisee has the  statutory right to  require the
     municipality  to purchase any and all property used in connection with
     the franchise at a valuation to be fixed  by arbitration. In addition,
     all of the  municipalities except for  the cities of Tampa  and Winter
     Haven  have reserved the right to purchase the company's property used
     in the exercise of its franchise, if the franchise is not renewed.

          The  company  has  franchise  agreements   with  13  incorporated
     municipalities within its retail service area.  These agreements  have

                                        5




     various  expiration  dates  starting  in October  1994  and  extending
     through  September 2021, including the City of Tampa, which expires in
     August 2006  and the City  of Oldsmar, which expires  in October 1994.
     The  company has no  reason to believe  that any of  these franchises,
     including the Oldsmar franchise, will not be renewed.

          Franchise  fees   payable   by   the   company,   which   totaled
     $18.8 million in 1993, are calculated using a formula  based primarily
     on electric revenues.

          Utility  operations in  Hillsborough,  Pasco,  Pinellas and  Polk
     Counties outside of incorporated  municipalities are conducted in each
     case under one or more permits to  use county rights-of-way granted by
     the  county commissioners of such  counties. There is  no law limiting
     the time  for which such permits may be granted by counties. There are
     no fixed expiration  dates for  the Hillsborough  County and  Pinellas
     County agreements.  The  agreements covering  electric  operations  in
     Pasco  and  Polk counties  expire in  September  2033 and  March 2005,
     respectively.


     Environmental Matters

          The company's operations are subject to county, state and federal
     environmental  regulations.  The  Hillsborough   County  Environmental
     Protection  Commission   and  the  Florida   Environmental  Regulation
     Commission are responsible for promulgating  environmental regulations
     and  coordinating  most  of  the  environmental  regulation  functions
     performed by the various departments  of state government. The Florida
     Department of  Environmental Protection (FDEP) is  responsible for the
     administration  and enforcement  of  the state  regulations. The  U.S.
     Environmental Protection  Agency (EPA)  is the primary  federal agency
     with environmental responsibility.

          The company has all required environmental permits.  In addition,
     a  monitoring program  is in  place to  assure compliance  with permit
     conditions.   The  company  has been  identified  as one  of  numerous
     potentially responsible parties with  respect to nine Superfund Sites.
     The  company expects that its liability in connection with these sites
     will not be material.

          Expenditures.  During the  five years  ended Dec.  31, 1993,  the
     company spent $49.1 million on capital additions to meet environmental
     requirements,  including  $8  million  for  the    Polk Power  Station
     project.   Environmental expenditures are estimated at $44 million for
     1994 and $150 million in total for 1995-1998, including, respectively,
     $32  million  and $106  million for  the  planned Polk  Power Station.
     These  totals  exclude  amounts  required  to  comply  with  the  1990
     amendments to the Clean Air Act.  The FPSC










                                        6




     has adopted  an environmental  cost recovery  clause that the  company
     believes would allow  it to recover  the   cost of future  significant
     environmental programs.

          The company plans to comply with the Phase I emission limitations
     in 1995 imposed by the  Clean Air Act by using blends  of lower-sulfur
     coal.  The  cost of compliance  with Phase I  is expected to  increase
     prices  less than  3  percent.   There  is little  capital  investment
     associated with fuel blending.

          In connection with its  Phase I compliance plan, the  company has
     entered  into a long-term contract for the purchase of low-sulfur coal
     beginning in mid-1994.   The  company is  also evaluating  the use  of
     purchased  sulfur  dioxide  allowances as  a  minor  component  of its
     overall compliance strategy.

          If  limited  to  today's  technology,  to  comply  with Phase  II
     emission standards set for 2000, the  company would likely have to add
     either  one or  two scrubbers.   The aggregate  effect of  Phase I and
     Phase II compliance on  the utility's price structure is  estimated to
     be 5 percent or less.

     Item 2.  PROPERTIES.

          The company believes that its physical properties are adequate to
     carry  on its  business  as currently  conducted.  The properties  are
     generally subject to liens securing long-term debt.

          The  company  had  five   electric  generating  plants  and  four
     combustion  turbine units with  a total  net generating  capability at
     Dec. 31, 1993 of  3,309 megawatts (MWs), including Big  Bend (1,687-MW
     capability for four coal  units), Gannon (1,171-MW capability for  six
     coal units),  Hookers Point  (212-MW capability  for five  oil units),
     Dinner  Lake  (11-MW capability  for one  natural gas  unit), Phillips
     (34-MW capability  for two diesel  units) and four  combustion turbine
     units located at Big Bend and Gannon stations (194 Mws). Capability as
     used  herein represents  the  demonstrable  dependable  load  carrying
     abilities  of the generating units during peak periods as proven under
     actual operating  conditions. Units at Hookers Point went into service
     from 1948 to 1955, at Gannon from  1957 to 1967, and at Big Bend  from
     1970 to 1985.  In 1991, the company purchased two power plants (Dinner
     Lake and  Phillips) from  the Sebring Utilities  Commission (Sebring).
     Dinner Lake and Phillips were placed in service by Sebring in 1966 and
     1983, respectively. In March  1994, Dinner Lake Station was  placed on
     long-term reserve standby.

          The  company owns  approximately  4,350 acres  of mined-out  land
     located  in  Polk  County,  Florida. This  site  will  accommodate the
     planned  Polk Unit  One electric  power plant  and also  the projected
     additional  generating capacity  that  will be  required  in 2001  and
     beyond. Polk Unit One is  discussed further under Capital Expenditures
     on pages 13 and 14.







                                        7




          The company owns 179  substations having an aggregate transformer
     capacity  of  15,208,000  KVA.  The transmission  system  consists  of
     approximately 1,182 pole miles of high voltage transmission lines, and
     the distribution system consists of 6,755 pole miles of overhead lines
     and 2,283  trench miles  of underground  lines. As of  Dec. 31,  1993,
     there were 482,447 meters in service. All of the foregoing property is
     located within Florida.

          All plants and important fixed assets are held in fee except that
     title  to some  of the  properties are  subject to  easements, leases,
     contracts, covenants  and similar  encumbrances and minor  defects, of
     the nature  common to properties of the size and character of those of
     the company.

          The  company has  easements  for rights-of-way  adequate for  the
     maintenance and operation of  most of its electrical  transmission and
     distribution  lines that  are  not constructed  upon public  highways,
     roads and  streets. It has the  power of eminent domain  under Florida
     laws for the acquisition  of any such rights-of-way for  the operation
     of transmission and distribution  lines. Transmission and distribution
     lines  located  in  public  ways are  maintained  under  franchises or
     permits.

          The  company has  a long-term  lease for  the office  building in
     downtown Tampa, Florida, that serves as its headquarters.


     Item 3.  LEGAL PROCEEDINGS.

          None.


     Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

          No matter was  submitted during the fourth  quarter of 1993 to  a
     vote of  the company's  security holders through  the solicitation  of
     proxies or otherwise.






















                                        8





                                     PART II


     Item 5.  MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED
              STOCKHOLDER MATTERS.

          All of the company's common stock is owned  by TECO Energy, Inc.,
     and hence there is no market for the stock.

          The company pays dividends substantially  equal to its net income
     applicable to  common  stock to  TECO Energy.  Such dividends  totaled
     $102.4 million for  1993 and $106.4  million for 1992.  See Note C  on
     page  27 for  a  description  of  restrictions  on  dividends  on  the
     company's common stock.


     Item 6.  SELECTED FINANCIAL DATA.

     (millions of dollars)
     Year ended 
      Dec. 31,             1993       1992       1991       1990       1989

     Operating
       revenues        $1,041.3   $1,005.8   $  987.5   $  939.8   $  934.6
     Net income        $  106.6   $  110.8   $  107.4   $  108.2   $  109.7
     Total assets      $2,199.6   $2,108.3   $1,994.5   $1,918.8   $1,886.1
     Long-term debt    $  611.1   $  595.1   $  513.7   $  513.9   $  514.5
     Preferred stock-
       Redemption 
       required              --         --         --         --   $    6.0




























                                        9




     Item  7. MANAGEMENT'S DISCUSSION AND  ANALYSIS OF FINANCIAL CONDITION 
             AND RESULTS OF OPERATIONS.

     EARNINGS SUMMARY

          Tampa  Electric's  net income  for  1993  of $106.6  million  was
     4 percent lower than for 1992 due  to a $10 million non-recurring coal
     settlement charge described in the Other Income (Expense) section.  
          In 1992, net income grew 3 percent to $110.8 million  from $107.4
     million  in 1991 due to  higher non-fuel revenues  from sales to other
     utilities, lower interest  expense and a continued  commitment to cost
     containment. 

     OPERATING RESULTS

          Operating  income  was level  in 1993  after increasing  in 1992.
     Higher base revenues in 1993 associated with retail customer growth of
     1.7  percent  and a  retail price  increase  were partially  offset by
     higher  operating expenses.  The  improvement in 1992 operating income
     resulted from increased  sales to other utilities  and retail customer
     growth, partially offset by higher operating expenses.
          Upon  termination of the Gannon  Project Trust on  Oct. 27, 1992,
     the revenues and expenses associated with an oil backout cost recovery
     tariff  were included  in  the financial  statements. These  revenues,
     which were exactly  offset by associated  expenses, amounted to  $11.5
     million in 1993  and $1.8 million in 1992.   The Trust was established
     in  1983 to  fund the conversion  of Gannon Station  Units One through
     Four  from oil-fired  to coal-fired  generation.   The  Florida Public
     Service  Commission  (FPSC)  approved  a  specific  oil  backout  cost
     recovery tariff related to this project.

                                  1993 Change      1992 Change      1991
     (millions of dollars)

     Operating revenues       $1,041.3   3.5%  $1,005.7   1.8%    $987.5
     Operating expenses          887.2   4.1%     852.5   2.1%     835.3

     Operating income         $  154.1    .5%  $  153.2    .7%    $152.2


     Operating Revenues
          Operating  revenues  rose  in  both 1993  and  1992  with  retail
     customer  growth  of 1.7  percent and  1.5 percent,  respectively, and
     higher sales to other utilities.  Also contributing in 1993 was a $12-
     million  price increase effective  February 1993, as  described in the
     Utility Regulation section.
          The  economy in  the company's  service area  continues to  grow,
     although  energy sales  in all  categories have  been affected  by the
     economic  slowdown.   Residential and  commercial energy  sales showed
     good growth  in 1993,  but total  retail energy  sales dropped due  to
     lower sales to the phosphate industry.
          Retail energy sales are  expected to rise with  economic recovery
     and a return to customer growth in the 2 to 2.5 percent range.
          Energy sold to other utilities declined in 1993 because of milder
     weather and  lower-priced oil  generation available on  other systems.
     Despite this decline, non-fuel revenues  from sales to other utilities
     increased to  $34 million in 1993 from $32.8 million in 1992 and $16.9
     million  in 1991.  This growth  resulted from shifting sales to higher

                                       10




     margin,  longer-term  contracts  and  an aggressive  sales  effort  in
     Florida's bulk power market.  
          In  January  1993,  the  company began  selling  under  a 10-year
     contract the limited use of 145 MWs of capacity from its Big Bend Unit
     Four  to  TECO  Power   Services  for  resale  to  Seminole   Electric
     Cooperative.  In  the past  two years, the  company has added  several
     other  smaller bulk power sales  contracts.  Three  of these contracts
     together provide  more  than 35  MWs  of  capacity to  the  cities  of
     Wauchula,  Ft. Meade  and St. Cloud,  Florida; all  will be  in effect
     beyond the year 2012.

                                  1993 Change      1992 Change      1991
     Megawatt-hour sales (thousands)
     Residential                 5,706   2.6%     5,560   1.0%     5,507
     Commercial                  4,432   2.3%     4,333   1.4%     4,274
     Industrial                  2,236 -14.8%     2,625  -1.6%     2,669
     Other                       1,073   3.8%     1,034   2.9%     1,005
       Total retail             13,447  - .8%    13,552    .7%    13,455
     Sales for resale            2,330 -14.0%     2,710   5.3%     2,574
       Total energy sold        15,777  -3.0%    16,262   1.5%    16,029

     Retail customers 
       (average)               477,010   1.7%   468,997   1.5%   462,260

     Operating Expenses
          Effective cost management and efficiency improvement continue  to
     be principal objectives at Tampa Electric.  Continued emphasis on cost
     containment limited  growth  in  operating expenses  in  1993  to  3.8
     percent,  excluding  amounts   recovered  through  FPSC-approved  cost
     recovery clauses and $6.3 million related to changes in accounting for
     postemployment   benefits.     Certain   fuel,   purchased   capacity,
     conservation and oil  backout costs  were fully recovered  and had  no
     impact on earnings.
                                  1993 Change      1992 Change      1991
     (millions of dollars)

     Fuel                       $363.2  -4.0%    $378.2  -2.3%    $387.3
     Purchased power              39.0  98.0%      19.7  16.6%      16.9
       Total fuel and 
         purchased power         402.2   1.1%     397.9  -1.6%     404.2
     Other operating expenses    157.7   9.8%     143.6   5.4%     136.2
     Maintenance                  71.4   4.2%      68.5   4.6%      65.5
     Depreciation                111.9   9.6%     102.1   5.6%      96.7
     Taxes, federal and state 
       income                     60.5  -2.1%      61.8   6.4%      58.1
     Taxes, other than income     83.5   6.2%      78.6   5.4%      74.6
      Total operating expenses   887.2   4.1%     852.5   2.1%     835.3

     Less: recoverable fuel, 
       purchased capacity, 
       conservation and
       oil backout expenses      421.6   3.7%     406.4  -1.1%     410.9

      Net operating expenses    $465.6   4.4%    $446.1   5.1%    $424.4





                                       11




          Total fuel  cost remained  relatively stable  for the last  three
     years.  Generation declined  3 percent in 1993 and average  fuel price
     increased 2 percent.  More  energy was purchased in 1993 to  meet peak
     demand and because of a three-month outage at a major generating unit.
     Substantially  all fuel  and  purchased power  expenses are  recovered
     through the fuel adjustment and cost recovery clauses.
          Nearly  all of the company's  generation in the  last three years
     has been from coal, and the fuel mix will continue to be substantially
     coal.   Coal prices are expected to  increase slightly during the next
     few years, but at a slower rate than either oil or gas prices.
          The  increase  in  other  operating  expenses  in  1993  included
     $6.3 million  related  to  changes  in  accounting  for postemployment
     benefits as described in the Accounting Standards section.   Increases
     in  the cost of medical coverage  and other employee benefits and more
     regulatory activity also increased 1993 expenses.  
          Maintenance expense was level in 1993 compared to 1992, excluding
     $2.5  million  related to  the addition  of  oil backout  costs.   The
     increase in  1992 came  from the  return to  service of  Hookers Point
     Station  in December 1991 and from the generating units purchased from
     the City of Sebring in February 1991.
          Depreciation expense  increased  both  years  because  of  normal
     additions  to plant and equipment  and the acquisition  of the Sebring
     generating units in February  1991.  Depreciation expense included  an
     additional $7 million in 1993 and $1.2 million in 1992 which relate to
     oil backout changes.
          Taxes  other  than income  taxes were  up  each year  mainly from
     higher gross receipts  taxes, which are included in  customers' bills,
     and from additional property taxes.


     NON-OPERATING ITEMS

     Other Income (Expense)
          In  1993, the company recorded  as other expense  a one-time $10-
     million pre-tax  charge associated  with  an FPSC-approved  settlement
     agreement between the company and the Office of Public Counsel (Public
     Counsel).   The  agreement  is described  in  the  Utility  Regulation
     section. 

     Interest Charges 
          Interest  charges were $42.3 million in 1993, level with 1992 and
     lower  than  1991.   Interest  costs in  1993  were affected  by lower
     interest rates and savings  from the refinancings as discussed  in the
     Financing  Activity section, which   offset higher debt  balances.  In
     1992, the effects of  lower interest rates offset higher  average debt
     balances resulting in lower interest charges than in 1991.

     Income Taxes
          Effective  Jan. 1,  1993, the federal  corporate income  tax rate
     increased  from 34 percent to 35 percent.   This rate increase lowered
     1993 earnings by $1.7 million.








                                       12




     ACCOUNTING STANDARDS

     Income Tax Accounting
          Effective Jan. 1, 1993,  the company adopted Financial Accounting
     Standards (FAS) 109, Accounting  for Income Taxes, which requires  the
     use of the liability method in accounting for income taxes. 
          The adoption of  FAS 109 had  no effect on  net income or  common
     equity, but did result in certain adjustments to  accumulated deferred
     income taxes and  the establishment of a corresponding  regulatory tax
     liability reflecting  the amount  payable to customers  through future
     rates.   The FPSC  adopted a rule  for accounting for  deferred income
     taxes  under FAS 109 requiring  that deferred tax  adjustments and the
     related regulatory tax  liability be treated  the same as  accumulated
     deferred income taxes had been treated in the past.
          Based on the FPSC rule, the company believes that there will  not
     be  any changes  in the  computation of  income  tax expense  for rate
     making purposes and  thus, no  change in its  revenue requirements  or
     earnings due to the adoption of FAS 109.

     Postemployment Benefits 
          The  company  adopted  FAS  106,  Accounting  for  Postretirement
     Benefits  Other than Pensions, effective  Jan. 1, 1993.   The standard
     requires full  cost accrual  accounting that  recognizes  the cost  of
     these benefits over the service lives of  employees.  Adopting the new
     standard resulted  in estimating a previously  unrecognized obligation
     covering prior years of  $41 million.  The company is  amortizing this
     transition  obligation  on  a  straight-line basis  over  the  average
     remaining service  lives of active employees,  approximately 20 years.
     Full  cost accrual  under  FAS  106  exceeds  cash  basis  expense  by
     approximately $5 million annually.  The new rates approved by the FPSC
     for  the  company for  1993  and 1994  reflect  full  cost accrual  of
     postretirement benefits including transition cost amortization. 


     CAPITAL EXPENDITURES

          Capital  expenditures  for  1993  of $206  million  included  $71
     million  for the construction of  Polk Unit One,  a 250-megawatt coal-
     gasification plant.   The capital  cost of the  plant is estimated  at
     about $440 million, net  of $100 million in construction  funding from
     the Department of Energy under its Clean Coal Technology Program.  The
     FPSC granted the  Certificate of  Need in 1992  and groundbreaking  is
     planned  for mid-1994. In addition, the company spent $135 million for
     equipment  and facilities to meet the  company's growing customer base
     and for generating equipment improvements.  














                                       13




          The  company  estimates total  capital  expenditures  for ongoing
     operations at $247 million in 1994 and $1 billion during the 1995-1998
     period mainly for distribution facilities to meet  customer growth and
     for construction of Polk Unit One.  About $100 million is estimated to
     be  spent on  this  project in  1994,  $215 million  in  1995 and  the
     remainder in  1996.  At the  end of 1993, the  company had outstanding
     commitments  of about $150 million  for the construction  of Polk Unit
     One.

                            Construction Requirements
                              (millions of dollars)

                                               1993               1994
                                             Actual          Estimated

     Production                                $ 99               $147
     Transmission                                16                 23
     Distribution                                47                 50
     General                                     44                 27
          Total                                $206               $247


     ENVIRONMENTAL COMPLIANCE

          The  company is  subject  to  various environmental  regulations.
     The  company  has all  of the  environmental  permits required  by the
     regulations and has a monitoring program in place to assure compliance
     with  permit  conditions.   The  company  believes that  environmental
     liabilities  are  minimal.  In  addition,  the  FPSC  has  adopted  an
     environmental  cost recovery  clause that  the company  believes would
     allow  it  to recover  the  cost of  future  significant environmental
     programs.
          The  company   plans  to  comply   with  the  Phase   I  emission
     limitations in  1995 imposed by the  Clean Air Act by  using blends of
     lower-sulfur coal.  The cost of compliance with Phase I is expected to
     increase prices  less than 3  percent.  There  is little  capital cost
     associated with fuel blending.
          In connection with its  Phase I compliance plan, the  company has
     entered  into a long-term contract for the purchase of low-sulfur coal
     beginning in  mid-1994.   The company  is also  evaluating the  use of
     purchased  sulfur  dioxide  allowances as  a  minor  component  of its
     overall compliance strategy.
          If  limited  to  today's  technology,  to comply  with  Phase  II
     emission standards set  for 2000, the company would likely have to add
     either one  or two scrubbers.   The  aggregate effect of  Phase I  and
     Phase  II compliance  on the  utility's price  structure  is currently
     estimated to be 5 percent or less.

     UTILITY REGULATION 

     Price Increase
          The  FPSC  granted  the company  a  $1.2  million permanent  base
     revenue  increase  and  a  $10.3 million  revenue  increase  primarily
     associated  with   recovery  of  purchased   power  capacity  payments
     effective in early February 1993.  An additional base revenue increase
     of  $16  million was  effective  Jan.  1,  1994.   The  FPSC  decision
     reflected overall allowed regulatory rates  of return of 8.20  percent
     in 1993 and 8.34 percent in 1994, which included an allowed regulatory

                                       14




     rate of return on common equity of 12 percent, the midpoint of a range
     of  11 percent  to  13 percent.    The FPSC  approved  $19 million  of
     construction work  in progress in rate base in 1993 and $55 million in
     1994.  
          Following a  separate hearing in  February 1994, the  FPSC issued
     an  order  on March  25, 1994  that  changed the  company's authorized
     regulatory  rate  of  return  on  common equity  to  an  11.35 percent
     midpoint  and a range of 10.35 percent to 12.35 percent, while leaving
     in effect  the rates it had previously established.  In its order, the
     FPSC  approved a $4-million annual accrual for the establishment of an
     unfunded  storm  damage  reserve  for  transmission  and  distribution
     property and  rejected  Public Counsel's  request that  the 1994  rate
     increase be held subject to refund.  Any party to the case has 30 days
     from the date of the order in which to file an appeal with the Florida
     Supreme Court.

     Coal Settlement
          In  February 1993,  the FPSC  approved  an agreement  between the
     company and Public Counsel that resolved all issues relating to prices
     for coal purchased in the years  1990 through 1992 by the company from
     its affiliate, Gatliff Coal Company, a subsidiary of TECO Coal.  Tampa
     Electric agreed to refund  $10 million plus interest to  its customers
     through the  fuel adjustment clause  over a 12-month  period beginning
     April  1,  1993. In  1993, the  company  refunded $7.6 million  to its
     customers.
          The  agreement  approved  by  the  FPSC  also  established a  new
     regulatory  benchmark procedure for 1993 through 1999 with a new price
     effective  Jan. 1, 1993 and annual adjustments  based on the change in
     the Consumer Price Index.  The  new procedure is expected to avoid the
     disputes which have arisen over the calculation of the prior benchmark
     price.


     FINANCING ACTIVITY

          Tampa Electric's 1993  year-end capital structure was  44 percent
     debt,  53 percent  common equity  and 3  percent preferred  stock. The
     company's  objective is to maintain a capital structure over time that
     will support its current credit ratings. 

                           Credit Ratings/Senior Debt
          Duff & Phelps            Moody's        Standard & Poor's
               AA                    Aa1                 AA  

          The company repaid $48 million of first mortgage bonds due May 1,
     1993  with internally  generated  funds and  proceeds from  short-term
     debt.
          In May 1993, the company sold $80 million of first mortgage bonds
     due  in 2000 at a 5.75 percent  interest rate and $75 million of first
     mortgage bonds  due in 2003 at  a 6.125 percent interest  rate.  These
     bonds were sold at a discount  with yields to maturity of 5.83 percent
     for  the 2000 series  and 6.25 percent for the  2003 series.  Proceeds
     were  used in  June 1993 to  redeem four  outstanding series  of first
     mortgage  bonds totaling $155 million.   The average  interest rate of
     the refunded bonds was 7.7 percent.
          In  June  1993, the  Hillsborough  County Industrial  Development
     Authority  issued $20 million  of Pollution Control  Revenue Bonds for
     the benefit of the company to finance the cost of waste disposal

                                       15




     facilities.  The bonds bear interest at a floating rate set daily.  At
     Dec. 31, 1993, $4.4 million  remained on deposit with the  trustee for
     future expenditures for qualified facilities.
          In  July 1993,  the  company  entered  into a  forward  refunding
     arrangement  for  $85.95  million  of  outstanding  Pollution  Control
     Revenue Bonds.   Under this  arrangement, $85.95 million  of new  tax-
     exempt bonds  due Dec. 1,  2034 will be issued  in December 1994  at a
     6.25 percent  interest rate.   The proceeds will  be used to  refund a
     currently  outstanding  9.9 percent  series  when  these bonds  become
     callable in February 1995.   For accounting and rate  making purposes,
     from July 1993 the  company recorded interest expense using  a blended
     rate for the outstanding and refunding  bonds and will continue to use
     this  rate  through  the  original  maturity  dates  of  the currently
     outstanding bonds.

     LIQUIDITY, CAPITAL RESOURCES

          The   company  met  its  cash  needs  during  1993  largely  with
     internally generated funds and  capital contributions from its parent,
     with the balance from debt.
          At   Dec.  31,  1993,  the  company  had  bank  credit  lines  of
     $140 million available.
          The company  expects to meet its capital requirements for ongoing
     operations in 1994-1998 substantially from internally generated funds.
     The  company anticipates  some capital  contributions from  parent and
     debt financing, primarily in 1994 and 1995.

































                                       16





     Item 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

              INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

                                                                   Page No.

     Report of Independent Accountants                                 18  

     Balance Sheets, Dec. 31, 1993 and 1992                            19  

     Statements of Income for the years ended
       Dec. 31, 1993, 1992 and 1991                                    20  

     Statements of Cash Flows for the years ended
       Dec. 31, 1993, 1992 and 1991                                    21  

     Statements of Retained Earnings for the years ended
       Dec. 31, 1993, 1992 and 1991                                    22  

     Statements of Capitalization, Dec. 31, 1993 and 1992           22-24  

     Notes to Financial Statements                                  25-32  

     Schedules:
      V - Property, Plant and Equipment for the years ended         33-35  
          Dec. 31, 1993, 1992 and 1991

     VI - Accumulated Depreciation of Property, Plant and           36-38  
          Equipment for the years ended Dec. 31, 1993, 
          1992 and 1991

     IX - Short-term Borrowings for the years ended                    39  
          Dec. 31, 1993, 1992 and 1991

      X - Supplementary Income Statement Information                   40  
          for the years ended Dec. 31, 1993, 1992 and 1991

          Schedules other than those listed  above have been omitted  since
     they are not required, are inapplicable or the required information is
     presented in the financial statements or notes thereto.


















                                       17





                        REPORT OF INDEPENDENT ACCOUNTANTS


     To the Board of Directors 
     of Tampa Electric Company,


          We  have  audited  the  financial statements  and  the  financial
     statement  schedules  of  Tampa  Electric  Company,  (a  wholly  owned
     subsidiary of TECO Energy, Inc.) as  listed in the index under  Item 8
     of this Form 10-K. These financial statements  and financial statement
     schedules  are the  responsibility  of the  company's management.  Our
     responsibility is  to express an opinion on these financial statements
     and financial statement schedules based on our audits.

          We  conducted our  audits in  accordance with  generally accepted
     auditing standards. Those  standards require that we plan  and perform
     the  audit to obtain reasonable  assurance about whether the financial
     statements  are  free  of  material misstatement.  An  audit  includes
     examining,  on  a  test  basis, evidence  supporting  the  amounts and
     disclosures  in  the  financial  statements. An  audit  also  includes
     assessing  the accounting  principles used  and  significant estimates
     made  by  management, as  well  as  evaluating the  overall  financial
     statement  presentation.   We  believe  that  our   audits  provide  a
     reasonable basis for our opinion.

          In  our  opinion,  the  financial statements  referred  to  above
     present fairly,  in all material  respects, the financial  position of
     Tampa Electric Company as of  Dec. 31, 1993 and 1992, and  the results
     of its operations and its  cash flows for each  of the three years  in
     the  period ended Dec. 31, 1993, in conformity with generally accepted
     accounting  principles. In  addition,  in our  opinion, the  financial
     statement schedules referred to above, when  considered in relation to
     the basic financial statements   taken as a whole, present  fairly, in
     all  material  respects,  the  information  required  to  be  included
     therein.

          As  discussed in Note  A to  the financial  statements, effective
     Jan.  1, 1993  the company adopted  Statement of  Financial Accounting
     Standards No. 109, "Accounting for Income Taxes."



                                                          COOPERS & LYBRAND
                                               Certified Public Accountants

     Tampa, Florida
     Jan. 17, 1994










                                       18




                                 BALANCE SHEETS
                             (thousands of dollars)
                                     Assets
     Dec. 31,                                        1993        1992 
     PROPERTY, PLANT AND EQUIPMENT, 
          AT ORIGINAL COST
     Utility plant in service                  $2,773,652  $2,699,290 
     Construction work in progress                151,311      76,920 
                                                2,924,963   2,776,210 
     Accumulated depreciation                  (1,052,979)   (995,616)
                                                1,871,984   1,780,594 
     Other property                                   201         181 
                                                1,872,185   1,780,775 
     CURRENT ASSETS
     Cash and cash equivalents                      4,499      28,260 
     Short-term investments                           216       1,934 
     Receivables, less allowance 
          for uncollectibles                       97,997      94,056 
     Inventories, at average cost
      Fuel                                         77,438      86,468 
      Materials and supplies                       37,726      37,139 
     Prepayments                                   10,062       4,381 
                                                  227,938     252,238 
     DEFERRED DEBITS
     Unamortized debt expense                      25,718      16,182 
     Deferred fuel expense                         13,721       3,703 
     Deferred income taxes                         37,045      31,145 
     Other                                         22,961      24,231 
                                                   99,445      75,261 
                                               $2,199,568  $2,108,274 

                             Liabilities and Capital
     CAPITAL
     Common stock                              $  664,631  $  627,631 
     Retained earnings                            182,939     182,273 
                                                  847,570     809,904 
     Preferred stock, redemption not required      54,956      54,956 
     Long-term debt, less amount due
          within one year                         611,082     595,067 
                                                1,513,608   1,459,927 
     CURRENT LIABILITIES
     Long-term debt due within one year             1,245      49,800 
     Notes payable                                 81,500      29,200 
     Accounts payable                              87,791      79,125 
     Customer deposits                             47,358      45,037 
     Interest accrued                              10,522      11,571 
     Taxes accrued                                  6,151       4,030 
                                                  234,567     218,763 
     DEFERRED CREDITS
     Deferred income taxes                        292,573     337,722 
     Investment tax credits                        66,033      70,946 
     Regulatory liability-tax related              61,973          -- 
     Other                                         30,814      20,916 
                                                  451,393     429,584 
                                               $2,199,568  $2,108,274 

     The  accompanying  notes  are  an  integral  part   of  the  financial
     statements.

                                       19




                              STATEMENTS OF INCOME
                             (thousands of dollars)


     Year ended Dec. 31,                 1993        1992        1991 

     OPERATING REVENUES
     Residential                   $  464,096  $  444,961  $  436,888 
     Commercial                       298,281     287,422     280,973 
     Industrial-Phosphate              55,116      70,175      73,948 
     Industrial-Other                  48,906      46,497      45,267 
     Sales for resale                  76,055      72,957      65,980 
     Other                             98,850      83,770      84,469 
                                    1,041,304   1,005,782     987,525 
     OPERATING EXPENSES
     Operation 
          Fuel                        363,250     378,234     387,359 
          Purchased power              38,961      19,671      16,882 
          Other                       157,701     143,624     136,165 
     Maintenance                       71,397      68,501      65,535 
     Depreciation                     111,866     102,081      96,701 
     Taxes-Federal and state income    60,559      61,809      58,063 
     Taxes-Other than income           83,513      78,626      74,580 
                                      887,247     852,546     835,285 

     OPERATING INCOME                 154,057     153,236     152,240 

     OTHER INCOME (EXPENSE) 
     Allowance for other funds 
      used during construction          1,585          --          -- 
     Other income (expense), net       (6,676)        186        (325)
                                       (5,091)        186        (325)

     Income before interest charges   148,966     153,422     151,915 

     INTEREST CHARGES
     Interest on long-term debt        39,281      36,896      36,483 
     Other interest                     5,133       6,845       9,176 
     Allowance for borrowed funds 
      used during construction         (2,096)     (1,104)     (1,098)
                                       42,318      42,637      44,561 

     NET INCOME                       106,648     110,785     107,354 
     Preferred dividend 
      requirements                      3,568       3,567       3,568 

     BALANCE APPLICABLE TO 
          COMMON STOCK             $  103,080  $  107,218  $  103,786 

     The  accompanying   notes  are  an  integral  part  of  the  financial
     statements.








                                       20




                            STATEMENTS OF CASH FLOWS
                             (thousands of dollars)

     Year ended Dec. 31,                 1993        1992        1991 
     CASH FLOWS FROM 
      OPERATING ACTIVITIES
      Net income                     $106,648    $110,785    $107,354 
      Adjustments to reconcile net 
          income to net cash
       Depreciation                   111,866     102,081      96,701 
       Deferred income taxes           10,793       6,087      11,760 
       Investment tax credits, net     (4,913)     (4,139)     (4,969)
       Allowance for funds used 
          during construction          (3,681)     (1,104)     (1,098)
       Deferred fuel cost             (10,018)      2,030      (3,358)
       Fuel cost settlement            10,000          --          -- 
       Refund to customers             (7,572)         --          -- 
       Receivables, less allowance 
          for uncollectibles           (3,941)      2,502        (719)
       Inventories                      8,443      15,022       8,004 
       Taxes accrued                    2,121       2,556      (3,561)
       Accounts payable                 6,088      16,757      (5,837)
       Other                             (306)      5,528       1,050 
                                      225,528     258,105     205,327 
     CASH FLOWS FROM 
      INVESTING ACTIVITIES
      Capital expenditures           (205,642)   (156,307)   (169,626)
      Allowance for funds used 
          during construction           3,681       1,104       1,098 
      Short-term investments            1,718      (1,727)        (24)
                                     (200,243)   (156,930)   (168,552)
     CASH FLOWS FROM 
      FINANCING ACTIVITIES
     Proceeds from contributed 
          capital from parent          37,000      14,000      68,007 
     Proceeds from long-term debt      15,636      75,000         --  
     Repayment of long-term debt      (48,000)       (235)       (643)
     Net increase (decrease) in 
      short-term debt                  52,300     (60,100)      9,000 
     Dividends                       (105,982)   (109,947)   (104,856)
                                      (49,046)    (81,282)    (28,492)
     Net increase (decrease) 
       in cash and cash equivalents   (23,761)     19,893       8,283 
     Cash and cash equivalents at 
       beginning of year               28,260       8,367          84 
     Cash and cash equivalents at
       end of year                   $  4,499    $ 28,260    $  8,367 

     SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
       Cash paid during the year for:
          Interest                   $ 43,540    $ 42,257    $ 46,113 
          Income taxes               $ 51,426    $ 55,781    $ 55,185 

     The   accompanying  notes  are  an  integral  part  of  the  financial
     statements.




                                       21




                                     STATEMENTS OF RETAINED EARNINGS
                                          (thousands of dollars)

     Year ended Dec. 31,                  1993        1992        1991
     BALANCE, BEGINNING OF YEAR       $182,273    $181,435    $178,937
     Add-Net income                    106,648     110,785     107,354
                                       288,921     292,220     286,291
     Deduct-Cash dividends on 
      capital stock
       Preferred                         3,568       3,567       3,568
       Common                          102,414     106,380     101,288
                                       105,982     109,947     104,856
     BALANCE, END OF YEAR             $182,939    $182,273    $181,435

                                         STATEMENTS OF CAPITALIZATION


                                                  
                                         Outstanding Dec. 31, 1993      Cash Dividends
                                                                        Paid in 1993(1)
                                           Current
                                        Redemption                        Per
     CAPITAL STOCK                           Price   Shares Amount(2)   Share  Amount(2)
                                                                           
     Common stock-Without par value
      25 million shares authorized             N/A       10  $664,631     N/A   $102,414
     Preferred stock-Par value $100
     1.5 million shares authorized
      4.32% Cumulative, Series A          $103.75    49,600  $  4,960   $4.32   $    214
      4.16% Cumulative, Series B          $102.875   50,000     5,000   $4.16        208
      4.58% Cumulative, Series D          $101.00   100,000    10,000   $4.58        458
      8.00% Cumulative, Series E          $102.00   149,960    14,996   $8.00      1,200
      7.44% Cumulative, Series F          $101.00   200,000    20,000   $7.44      1,488
                                                             $ 54,956           $  3,568
     Preferred stock-No par
      2.5 million shares authorized, none outstanding.
     Preference stock-No par
      2.5 million shares authorized, none outstanding.
     _________________
<FN>
     (1) Quarterly dividends paid on Feb. 15, May 15, Aug. 15 and Nov. 15.
     (2) Thousands of dollars.


     The accompanying  notes are  an  integral part  of the  financial
     statements.



                                     22 
 


     STATEMENTS OF CAPITALIZATION (continued)
          At Dec. 31, 1993, preferred stock had  a carrying amount of $55.0
     million and  an  estimated fair  market  value of  $49.8 million.  The
     estimated fair market  value of  preferred stock was  based on  quoted
     market prices.                                                     
          (thousands of dollars)
     LONG-TERM DEBT OUTSTANDING AT DEC. 31,       Due       1993     1992
     First mortgage bonds  (issuable in series)
      4 1/2%                                     1993   $    --  $ 48,000
      5 1/2%                                     1996     25,000   25,000
      7 1/4%                                     1998        --    30,000
      7 1/4%                                     2001        --    35,000
      7 3/8%                                     2002        --    40,000
      8 1/2%                                     2004        --    50,000
      7 3/4%                                     2022     75,000   75,000
      5 3/4%                                     2000     80,000      -- 
      6 1/8%                                     2003     75,000      -- 
     Installment contracts payable(1)
      5 3/4%                                     2007     24,920   24,920
      7 7/8% Refunding bonds(2)                  2021     25,000   25,000
      8% Refunding bonds(2)                      2022    100,000  100,000
      9.9%(3)                               2011-2014     85,950   85,950
     Variable rate: 2.12% for 1993
       and 2.55% for 1992(4)                     2025     51,605   51,605
     Variable rate: 2.12% for 1993
       and 2.49% for 1992(4)                     2018     54,200   54,200
     Variable rate: 2.28% for 1993(4)(5)                    2020   15,636--

     Unamortized debt premium                                 16      192
                                                         612,327  644,867
     Less amount due within one year(6)                    1,245   49,800
     TOTAL LONG-TERM DEBT                               $611,082 $595,067

          Maturities and annual sinking fund requirements of long-term debt
     for  the  years 1995,  1996,  1997 and  1998 are  $1.3  million, $26.0
     million, $1.0  million,  and $1.1  million,  respectively.   Of  these
     amounts  $1.0 million  for 1995  and  $0.8 million  per year  for 1996
     through 1998  may be satisfied by the substitution of property in lieu
     of cash payments.
          Substantially  all of  the property, plant  and equipment  of the
     company is pledged as collateral.
     ___________________________
     (1)  Tax-exempt securities.
     (2)  Proceeds of these bonds  were used to refund bonds  with interest
          rates  of 11  5/8%-12 5/8%.    For accounting  purposes, interest
          expense  has been recorded using  blended rates of 8.28%-8.66% on
          the  original and  refunding  bonds, consistent  with  regulatory
          treatment.
     (3)  Under a financing arrangement entered into in July 1993, new tax-
          exempt  bonds  will be  issued in  December  1994 to  refund this
          outstanding series  when it  becomes eligible for  refunding. The
          new  refunding  series  bears  an  interest rate  of  6.25%.  For
          accounting purposes,  interest expense has been  recorded using a
          blended rate  of the  outstanding and refunding  bonds from  July
          1993 forward, consistent with regulatory treatment.
     (4)  Composite year-end interest rate.
     (5)  This  amount  is recorded  net of  $4.4  million on  deposit with
          trustee. Composite year-end interest rate of 2.47% for 1993.

                                       23




     (6)  Of  the amount due in 1994, $1.0  million may be satisfied by the
          substitution of property in lieu of cash payments.

     The  accompanying  notes  are  an  integral  part  of  the   financial
     statements.






















































                                       24




                    STATEMENTS OF CAPITALIZATION (continued)

          At  Dec. 31, 1993, total long-term  debt had a carrying amount of
     $611.1  million and  an estimated fair  market value  of $658 million.
     The estimated  fair market value of long-term debt was based on quoted
     market prices for  the same  or similar issues,  on the current  rates
     offered  for debt of the  same remaining maturities,  or for long-term
     issues with variable rates that approximate market rates,  at carrying
     amounts.  The  carrying amount of  long-term debt due within  one year
     approximated  fair market value because of the short maturity of these
     instruments.

          The company  entered into an interest rate  exchange agreement to
     reduce the  cost of $100  million of fixed  rate long-term debt.   The
     debt has been  refinanced but  the exchange agreement  will remain  in
     effect  until January  1996.   The benefit  derived from  the exchange
     agreement  could range up to  $2.3 million depending  on floating rate
     levels.  The benefits of this agreement are at  risk only in the event
     of nonperformance  by  the other  party to  this agreement  or if  the
     floating  rate  reaches  12.55%.   The  company  does  not  anticipate
     nonperformance by the other  party.  The benefit of  the interest rate
     exchange is used to reduce interest  expense.  The reduction was  $2.3
     million per year in 1993, 1992 and 1991.

          At  Dec. 31, 1993, this  interest rate exchange  agreement had an
     estimated  fair market value of  $4.4 million.   Estimated fair market
     value was based on the expected realizable value to the company if the
     agreement were terminated.










          The accompanying  notes  are an  integral part  of the  financial
     statements.



















                                       25




                          NOTES TO FINANCIAL STATEMENTS


     A.   Summary of Significant Accounting Policies

     Basis of Accounting
          The company maintains its  accounts in accordance with recognized
     policies  prescribed  or  permitted  by  the  Florida  Public  Service
     Commission (FPSC) and the Federal Energy Regulatory Commission (FERC).
     These  policies conform with  generally accepted accounting principles
     in all material respects.

          The  impact  of  Financial  Accounting  Standard  (FAS)  No.  71,
     Accounting  for the Effects of  Certain Types of  Regulation, has been
     minimal in the company's experience, but when cost recovery is ordered
     over  a longer period than a fiscal  year, costs are recognized in the
     period  that the regulatory agency recognizes  them in accordance with
     FAS 71.

          The company's  retail and  wholesale businesses are  regulated by
     the  FPSC and the FERC, respectively.  Prices allowed by both agencies
     are  generally  based on  recovery of  prudent  costs incurred  plus a
     reasonable return on invested capital.

     Revenues and Fuel Costs
          Revenues  include amounts  resulting  from cost  recovery clauses
     which  provide for  monthly billing  charges  to reflect  increases or
     decreases in  fuel, purchased  capacity, oil backout  and conservation
     costs.  These  adjustment factors are based on costs  projected by the
     company for a six-month period.   Any over-recovery or  under-recovery
     of costs  plus an interest factor are  refunded or billed to customers
     during the  subsequent six-month period.  Over-recoveries of costs are
     recorded  as  deferred  credits  and  under-recoveries  of  costs  are
     recorded as deferred debits.

          Certain other costs  incurred by  the company are  allowed to  be
     recovered  from customers  through prices  approved in  the regulatory
     process.   These costs are  recognized as the  associated revenues are
     billed.

          The  company  accrues base  revenues  for  services rendered  but
     unbilled to provide a closer matching of revenues and expenses.

          On Oct. 27, 1992,  pursuant to FPSC approval, the  Gannon Project
     Trust was terminated  and the Trust's net assets and  debt were placed
     on the company's balance  sheet.  At that time, the  net assets of the
     Trust  totaled  $54.2  million,   which  included  $140.3  million  of
     property,   plant  and   equipment,  $87.6   million  of   accumulated
     depreciation  and  $1.5  million  of  other  assets  and  liabilities.
     Concurrently, the Hillsborough County Industrial Development Authority
     issued  $54.2  million  of  variable-rate  Pollution  Control  Revenue
     Refunding  Bonds due May  15, 2018 for the  benefit of Tampa Electric,
     the proceeds of which were used  to redeem all of the outstanding debt
     of  the Gannon Project Trust.  The effect of this non-cash transaction
     has  been netted to arrive  at capital expenditures  and proceeds from
     long-term debt in the Statements of Cash Flows.



                                       26




          In  February 1993,  the FPSC  approved an  agreement  between the
     company  and the  Office of  Public Counsel  that resolved  all issues
     relating  to prices for coal purchased  in the years 1990 through 1992
     by the company from its affiliate, Gatliff Coal, a subsidiary of  TECO
     Coal.  The company recognized a $10-million liability in February 1993
     and agreed to  return this  amount plus interest  during the  12-month
     period effective  April 1, 1993.   The  $10 million charge  related to
     this agreement is classified in "Other income (expense)" on the income
     statement.

     Depreciation
          The company provides for  depreciation primarily by the straight-
     line method at annual rates that amortize  the original cost, less net
     salvage, of depreciable property over its estimated service life.  The
     provision for utility plant  in service, expressed as a  percentage of
     the original cost of depreciable property, was 4.2% for 1993, 1992 and
     1991.

          The original cost  of utility plant retired or otherwise disposed
     of and the  cost of removal  less salvage are  charged to  accumulated
     depreciation.

     Deferred Income Taxes  
          Effective  Jan.  1, 1993,  the  company  adopted FAS  109,  which
     changed the requirements  for accounting for  income taxes.   Although
     FAS 109  retains the concept  of comprehensive interperiod  income tax
     allocation, it  adopts  the liability  method  in the  measurement  of
     deferred  income taxes  rather than  the deferred  method.   Under the
     liability  method,  the temporary  differences  between  the financial
     statement  and tax  bases of  assets and  liabilities are  reported as
     deferred taxes measured at current tax rates.  Since the  company is a
     regulated enterprise  and reflects the expected  regulatory treatment,
     the adoption of FAS 109 resulted in certain adjustments to accumulated
     deferred  income  taxes  and  the  establishment  of  a  corresponding
     regulatory tax  liability reflecting  the amount payable  to customers
     through future rates and had no effect on earnings.

     Investment Tax Credits
          Investment tax credits have been recorded as deferred credits and
     are being  amortized to income tax  expense over the service  lives of
     the related property.

     Allowance for Funds Used During Construction (AFUDC)
          AFUDC  is a non-cash credit to income with a corresponding charge
     to utility  plant which represents  the cost  of borrowed funds  and a
     reasonable return on other funds used for construction.  The rate used
     to  calculate AFUDC  is  revised periodically  to reflect  significant
     changes in the company's cost of capital.  The rate was 7.70% for 1993
     and 7.93% for 1992  and 1991.  The  base on which AFUDC  is calculated
     excludes construction work in progress which has been included in rate
     base.








                                       27




     Cash and Cash Equivalents
          Cash equivalents are all highly liquid debt instruments purchased
     with a maturity of three  months or less. The carrying amount  of cash
     equivalents  approximated  fair  market  value because  of  the  short
     maturity of these instruments.

     Investments
          Short-term  investments consist  of  various equity  investments,
     stated  at lower of aggregate  cost or market.  Income from short-term
     investments is  recognized when  realized, with  the exception of  net
     unrealized losses  that are recognized  currently in order  to reflect
     these investments at the lower of cost or market. Net unrealized gains
     are  not recognized until they are realized. Realized gains and losses
     are determined on the specific identification cost basis. The carrying
     amount of these investments approximated  fair market value because of
     their short holding period.

     Reclassifications
          Certain  1992 and 1991 amounts  were reclassified to conform with
     current year presentation.

     B.   Common Stock

          The company is a wholly owned subsidiary of TECO Energy, Inc.

                                           Common Stock      Issue
                                          Shares  Amount   Expense
     (thousands of dollars)
     Balance Dec. 31, 1990                   10   $547,316  $1,692
      Contributed capital from parent               68,007      --
     Balance Dec. 31, 1991                   10    615,323   1,692
      Contributed capital from parent               14,000      --
     Balance Dec. 31, 1992                   10    629,323   1,692
      Contributed capital from parent               37,000      --
     Balance Dec. 31, 1993                   10   $666,323  $1,692


     C.   Retained Earnings

          The company's Restated  Articles of Incorporation and  certain of
     the company's first mortgage bond issues contain provisions that limit
     the dividend payment on the company's common stock and the purchase or
     retirement  of  the  company's  capital  stock.   At  Dec.  31,  1993,
     substantially all  of the  company's retained earnings  were available
     for dividends on its common stock.


     D.   Retirement Plan

          The  company is  a participant  in  the comprehensive  retirement
     plan  of TECO  Energy, which  has a  non-contributory defined  benefit
     retirement plan which covers substantially all employees. Benefits are
     based on employees' years of service and average final salary.
          TECO Energy's  policy is to  fund the plan  within the guidelines
     set  by  ERISA for  the minimum  annual  contribution and  the maximum
     allowable  as a  tax  deduction by  the IRS.  The  company's share  of
     pension expense was  $1.1 million for 1993  and $1.8 million for  1992


                                       28




     and 1991.  About 62  percent of  plan assets  were invested  in common
     stocks and 38 percent in fixed income investments at Dec. 31, 1993.
          Components of net  pension expense, reconciliation of  the funded
     status and the accrued pension prepayment are presented below for TECO
     Energy consolidated.


     Components of net pension expense
     (thousands of dollars)
                                                   1993     1992     1991

     Service cost (benefits earned 
       during the period)                       $ 7,665  $ 7,347  $ 6,873

     Interest cost on projected benefit
       obligations                               15,052   14,063   12,695
     Less: Return on plan assets
       Actual                                    30,495   25,896   39,216
       Less net amortization of unrecognized
        transition asset and deferred return     10,284    7,696   22,730
     Net return on assets                        20,211   18,200   16,486

     Net pension expense                        $ 2,506  $ 3,210  $ 3,082


     Reconciliation of the  funded status  of the retirement  plan and  the
     accrued pension prepayment
     (thousands of dollars)
                                                   Dec. 31,       Dec. 31,
                                                     1993           1992  

     Fair market value of plan assets              $254,253       $224,350
     Projected benefit obligation                  (207,282)      (177,378)
     Excess of plan assets over projected
      benefit obligation                            46,971         46,972 
     Less unrecognized net gain from past
      experience different from that assumed        36,426         43,252 
     Less unrecognized prior service cost           (8,858)        (9,441)
     Less unrecognized net transition asset
      (being amortized over 19.5 years)              11,472         12,469 
     Accrued pension prepayment                    $  7,931       $    692 

     Accumulated benefit obligation
      (including vested benefits of $151,213 
      for 1993 and $124,133 for 1992)              $169,212       $138,386 

     Assumptions used in determining actuarial valuations

     Discount rate to determine projected
      benefit obligation                             7.75%          8.75%
     Rates of increase in compensation levels      3.3-5.3%       4.0-6.2%
     Plan asset growth rate through time              9%             9%







                                       29





     E.   Postretirement Benefit Plan

          The company currently provides certain postretirement health care
     benefits for substantially all employees retiring after age 55 meeting
     certain service requirements.   The company contribution toward health
     care  coverage for  most  employees retiring  after  Jan. 1,  1990  is
     limited  to  a  defined dollar  benefit  based  on  years of  service.
     Postretirement benefit levels are  substantially unrelated to  salary.
     The  company reserves  the right  to terminate or  modify the  plan in
     whole or in part at any time.

          In 1993, the company adopted FAS 106 that requires postretirement
     benefits be recognized as  earned by employees rather than  recognized
     as paid.  Prior to 1993, the  cost of these benefits was recognized as
     benefits  were paid and amounted to $2.2 million for eligible retirees
     in 1992 and $1.9 million for eligible retirees in 1991.

     Components of postretirement benefit cost (thousands of dollars)
                                                           1993 

     Service cost (benefits earned during the period)     $1,207
     Interest cost on projected benefit obligations        3,616
     Amortization of transition obligation
      (straight line over 20 years)                        2,063
     Net periodic postretirement benefit expense          $6,886

     Reconciliation of the funded status of the postretirement benefit plan
     and the accrued liability (thousands of dollars)

                                                        Dec. 31,
                                                          1993  

     Accumulated postretirement benefit obligation
      Active employees eligible to retire                $ 8,324
      Active employees not eligible to retire             18,232
      Retirees and surviving spouses                      20,699
                                                          47,255

     Less unrecognized net loss from past experience       3,497
     Less unrecognized transition obligation              39,199

      Accrued postretirement liability                   $ 4,559

     Assumptions used in determining actuarial valuation

     Discount rate to determine projected benefit obligation         7.75%

          The assumed health care  cost trend rate for medical  costs prior
     to  age 65  was  12.0% in  1993  and decreases  to  6.0% in  2002  and
     thereafter.  The assumed health care cost trend rate for medical costs
     after  age 65  was  8.5% in  1993 and  decreases to  6.0% in  2002 and
     thereafter.






                                       30 
 


          A 1 percent increase in the  medical trend rates would produce an
     11 percent ($517,000)  increase in the aggregate  service and interest
     cost  for  1993  and  a  9  percent  ($4.2  million) increase  in  the
     accumulated postretirement benefit obligation as of Dec. 31, 1993.

     F.   Income Tax Expense 

          The company is included  in the filing of a  consolidated Federal
     income tax return with its parent and affiliates. The company's income
     tax  expense is based upon  a separate return  computation. Income tax
     expense consists of the following components:

     (thousands of dollars)               Federal     State    Total 
     1993
     Currently payable                   $ 43,616   $ 7,647 $ 51,263 
     Deferred                               9,368     1,425   10,793 
     Amortization of investment tax 
       credits                             (4,912)       --   (4,912)
     Total income tax expense            $ 48,072   $ 9,072   57,144 
     Included in other income, net                            (3,415)
     Included in operating expenses                         $ 60,559 

     1992
     Currently payable                   $ 50,851   $ 8,930 $ 59,781 
     Deferred                               5,187       900    6,087 
     Investment tax credits                    (2)       --       (2)
     Amortization of investment tax 
          credits                          (4,138)       --   (4,138)
     Total income tax expense            $ 51,898   $ 9,830   61,728 
     Included in other income, net                               (81)
     Included in operating expenses                         $ 61,809 

     1991
     Currently payable                   $ 43,462   $ 7,444 $ 50,906 
     Deferred                               9,734     2,026   11,760 
     Investment tax credits                     5         -        5 
     Amortization of investment tax 
          credits                          (4,973)        -   (4,973)
     Total income tax expense            $ 48,228   $ 9,470 $ 57,698 
     Included in other income, net                              (365)
     Included in operating expenses                         $ 58,063 


          The company adopted FAS 109 as of Jan. 1, 1993 and elected not to
     restate the prior  years financial statements.  Deferred  taxes result
     from temporary  differences in the recognition  of certain liabilities
     or assets for tax and financial reporting purposes.  












                                       31




          The principal components of the company's deferred tax assets and
     liabilities recognized in the balance sheet are as follows:
                                               Dec. 31, 1993
     Deferred tax assets(1)
      Property related                            $  25,766 
      Leases                                          5,306 
      Insurance reserve                               2,485 
      Early capacity payments                         2,565 
      Other                                             923 
       Total deferred income tax assets              37,045 
     Deferred income tax liabilities(1)
      Property related                             (285,291)
      Other                                          (7,282)
       Total deferred income tax liabilities       (292,573)
       Accumulated deferred income taxes          $(255,528)
     _________________
     (1) Certain property related assets and liabilities have been netted.

          Deferred  tax  expense results  from  timing  differences in  the
     recognition  of certain  expenses or  revenues for  tax and  financial
     reporting purposes. The source of these differences and the tax effect
     of each for 1992 and 1991 are as follows:

                                                      1992     1991  
     Tax depreciation in excess of 
          book depreciation                         $11,679  $13,125 
     (Over-recovery)/under-recovery of fuel costs      (834)   1,302 
     Coal contract buyout                            (1,279)  (5,323)
     Construction-related items capitalized
          for tax purposes                           (1,474)  (1,378)
     Other                                           (2,005)   4,034 
                                                    $ 6,087  $11,760 

          The total income tax  provisions differ from amounts  computed by
     applying  the federal statutory tax rate to income before income taxes
     for the following reasons:

                                            1993      1992     1991  
     Net income                          $106,648  $110,785 $107,354 
     Total income tax provision            57,144    61,728   57,698 
     Income before income taxes          $163,792  $172,513 $165,052 

     Income taxes on above at federal
          statutory rate (35% for 1993
          and 34% for 1992 and 1991)     $ 57,327  $ 58,654 $ 56,118 
     Increase (decrease) due to State 
          income tax, net of federal
          income tax                        5,921     6,515    6,270 
     Amortization of investment tax 
          credits                          (4,912)   (4,138)  (4,973)
     Other                                 (1,192)      697      283 
     Total income tax provision          $ 57,144  $ 61,728 $ 57,698 
     Provision for income taxes as 
          a percent of income before 
          income taxes                       34.9%     35.8%    35.0%




                                       32




     G.   Short-Term Debt

          Notes  payable   at  Dec.  31,  1993   consisted  exclusively  of
     commercial paper.  The carrying  amount of notes  payable approximated
     fair  market value because of the short maturity of these instruments.
     Unused lines of  credit at  Dec. 31, 1993  were $140 million.  Certain
     lines  of credit  require  commitment  fees  of  .15%  on  the  unused
     balances.

     H.   Related Party Transactions (thousands of dollars)

          Net transactions with affiliates are as follows:

                                             1993      1992     1991 
     Fuel related                        $190,495  $190,085 $200,154 
     Administrative and general, net     $ 14,510  $ 10,358 $  8,733 
     Other, net                          $     --  $     -- $     10 


          Amounts due from or to affiliates of the company at  year-end are
     as follows:

                                             1993      1992 
     Accounts receivable                 $  1,720  $    516 
     Accounts payable                    $ 20,693  $ 24,044 

          Accounts  receivable and  accounts payable  were incurred  in the
     ordinary course of business and do not bear interest.


     I.   Commitments and Contingencies

          The company has  made certain commitments in  connection with its
     continuing  capital  improvements   program.  The  company's   capital
     expenditures are estimated to be $247 million  for 1994 and $1 billion
     for  1995 through 1998 for  equipment and facilities  to meet customer
     growth and for  construction of additional  generating capacity to  be
     placed in service in 1996.   The company plans to build a 250-megawatt
     coal-gasification plant (Polk Unit  One) with a capital cost  of about
     $440 million, net  of $100  million in construction  funding from  the
     Department of Energy under  its Clean Coal Technology Program.   Tampa
     Electric  spent $71  million on this  project in  1993 and  expects to
     spend $100 million in 1994, $215 million in 1995 and  the remainder in
     1996.  At  the end of 1993, Tampa Electric had outstanding commitments
     of approximately $150 million for the construction of Polk Unit One. 














                                       33




                                                                                          SCHEDULE V
                                      PROPERTY, PLANT AND EQUIPMENT
                                           Year ended Dec. 31,
                                          (thousands of dollars)

             Column A                  Column B    Column C   Column D    Column E    Column F
                                     Balance at   Additions                         Balance at
                                      beginning          at                  Other      end of
          Classification              of period        costRetirements     changes      period

     1993
                                                                  

     Utility plant in service
      Intangibles                    $   14,675   $  1,097    $  7,187     $   --   $    8,585
      Production
          Steam                       1,440,347     40,485      20,973         --    1,459,859
          Other                          84,667        169           2        (13)      84,821
      Transmission                      209,269     15,085       2,723        739      222,370
      Distribution                      737,457     49,501       9,805       (676)     776,477
      General                           212,875     20,686      12,021         --      221,540
                                      2,699,290    127,023      52,711         50    2,773,652
     Plant held for future use           36,792     20,561          --        (50)      57,303
                                      2,736,082    147,584      52,711         --    2,830,955
     Construction work in progress       40,128     53,880(1)       --         --       94,008
                                     $2,776,210   $201,464    $ 52,711     $   --   $2,924,963


     __________________
<FN>
     (1)  Net of transfers to plant in service.















                                                    34




                                                                                          SCHEDULE V
                                      PROPERTY, PLANT AND EQUIPMENT
                                           Year ended Dec. 31,
                                          (thousands of dollars)

             Column A                  Column B   Column C    Column D    Column E    Column F
                                     Balance at  Additions                          Balance at
                                      beginning         at                   Other      end of
          Classification              of period       cost Retirements     changes      period

     1992

     Utility plant in service
                                                                     
      Intangibles                    $   14,288   $  1,197    $    810     $   --   $   14,675
      Production
          Steam                       1,278,136    180,761      18,550         --    1,440,347
          Other                          82,553      2,707         593         --       84,667
      Transmission                      192,390     15,382       3,479      4,976      209,269
      Distribution                      697,100     52,595       7,831     (4,407)     737,457
      General                           199,478     18,772       5,610        235      212,875
                                      2,463,945    271,414      36,873        804    2,699,290
     Plant held for future use           36,636        960(1)       --       (804)      36,792
                                      2,500,581    272,374      36,873         --    2,736,082
     Construction work in progress       18,698     21,430(1)       --         --       40,128
                                     $2,519,279   $293,804(2) $ 36,873    $    --   $2,776,210

     __________________
<FN>
     (1)  Net of transfers to plant in service.
     (2)  Additions at cost include the Gannon Project Trust assets transferred to the  company of
          $140.3 million.














                                                    35 
 


                                                                                          SCHEDULE V
                                      PROPERTY, PLANT AND EQUIPMENT
                                           Year ended Dec. 31,
                                          (thousands of dollars)

             Column A                  Column B   Column C    Column D    Column E    Column F
                                     Balance at  Additions                          Balance at
                                      beginning         at                   Other      end of
          Classification              of period       cost Retirements     changes      period

     1991

     Utility plant in service
                                                                     
      Intangibles                    $   12,943   $  1,345    $     --      $  --   $   14,288
      Production
          Steam                       1,248,376     43,151      13,391         --    1,278,136
          Other                          23,003     60,558       1,008         --       82,553
      Transmission                      172,252     21,737       1,468       (131)     192,390
      Distribution                      659,339     44,688       7,058        131      697,100
      General                           183,792     21,526       5,840         --      199,478
                                      2,299,705    193,005      28,765         --    2,463,945
     Plant held for future use           34,765      1,871(1)       --         --       36,636
                                      2,334,470    194,876      28,765         --    2,500,581
     Construction work in progress       18,354        344(1)       --         --       18,698
                                     $2,352,824   $195,220(2)  $28,765      $  --   $2,519,279
     __________________
<FN>
     (1)  Net of transfers to plant in service.
     (2)  Additions at cost include the Sebring acquisition of $67.4 million.
















                                                    36 
 


                                                                                         SCHEDULE VI
                        ACCUMULATED DEPRECIATION OF PROPERTY, PLANT AND EQUIPMENT
                                           Year ended Dec. 31,
                                          (thousands of dollars)


            Column A                   Column B   Column C  Column D      Column E   Column F   
                                                 Additions  
                                                   charged  
                                     Balance at   to costs                        Balance at
                                      beginning        and                 Other      end of
          Description                 of period   expenses   Retirements   changes    period

     1993

     Utility plant in service
                                                                      
      Intangibles                      $ 11,034   $  1,603     $ 7,187    $    --   $    5,450
      Production
          Steam                         600,793     51,768      24,275         30      628,316
          Other                          49,083      3,244          19         --       52,308
      Transmission                       59,869      7,319       3,466         97       63,819
      Distribution                      207,949     28,026      10,265        (97)     225,613
      General                            66,888     22,244      11,659         --       77,473
                                       $995,616    114,204     $56,871    $    30(2)$1,052,979
     Depreciation charged to 
          clearing accounts                         (2,338)(1)
                                                  $111,866  

     __________________
<FN>
     (1)  Depreciation  charged  initially  to  clearing accounts  and  subsequently  distributed to
          various accounts.
     (2)  1993 interest synchronization included in steam production.












                                                    37




                                                                                         SCHEDULE VI
                        ACCUMULATED DEPRECIATION OF PROPERTY, PLANT AND EQUIPMENT
                                           Year ended Dec. 31,
                                          (thousands of dollars)


            Column A                   Column B   Column C   Column D     Column E   Column F      
                                                 Additions  
                                                   charged  
                                     Balance at   to costs                          Balance at
                                      beginning        and                   Other      end of
          Description                 of period   expenses    Retirements    Changes    period      

     1992

                                                                       
     Utility plant in service
      Intangibles                      $ 10,252   $  1,592     $   810    $    --     $ 11,034
      Production
          Steam                         494,867     45,407      21,882     82,401      600,793
          Other                          40,809      3,253         596      5,617       49,083
      Transmission                       55,051      6,676       3,670      1,812       59,869
      Distribution                      190,352     26,625       7,337     (1,691)     207,949
      General                            51,598     20,823       5,503        (30)      66,888
                                       $842,929    104,376     $39,798    $88,109(2)  $995,616
     Depreciation charged to 
          clearing accounts                         (2,295)(1)
                                                  $102,081  

     __________________
<FN>
     (1)  Depreciation  charged  initially  to  clearing accounts  and  subsequently  distributed to
          various accounts.
     (2)  Includes accumulated  depreciation of $87.6  million for the  Gannon Project Trust  assets
          transferred to the company and $.4  million for 1992 interest synchronization included  in
          Steam Production.










                                                    38




                                                                                         SCHEDULE VI
                        ACCUMULATED DEPRECIATION OF PROPERTY, PLANT AND EQUIPMENT
                                           Year ended Dec. 31,
                                          (thousands of dollars)


            Column A                   Column B   Column C   Column D     Column E   Column F
                                                 Additions  
                                                   charged  
                                     Balance at   to costs                          Balance at
                                      beginning        and                   Other     end of
          Description                 of period   expenses    Retirements    Changes  period

     1991

                                                                       
     Utility plant in service
      Intangibles                      $  8,717    $ 1,535     $    --   $    --      $ 10,252
      Production
          Steam                         462,596     44,415      15,111     2,967       494,867
          Other                          14,130      2,718       1,017    24,978        40,809
      Transmission                       49,392      5,983       1,925     1,601        55,051
      Distribution                      173,592     25,143       8,445        62       190,352
      General                            38,005     19,087       5,494        --        51,598
                                        746,432     98,881      31,992    29,608       842,929
     Interest synchronization true-up(2)    420         --          --      (420)           --
                                       $746,852     98,881     $31,992   $29,188(3)   $842,929
     Depreciation charged to 
          clearing accounts                         (2,180)(1)
                                                   $96,701  

     __________________
<FN>
     (1)  Depreciation  charged  initially  to clearing  accounts  and  subsequently  distributed to
          various accounts.
     (2)  Per FPSC Docket  No. 910686-EI, Tampa Electric Company, 1991  Depreciation Study, interest
          synchronization was allocated to Steam Production.
     (3)  Includes accumulated depreciation of $28.8 million for the Sebring acquisition.








                                                    39 
 


                                                                                         SCHEDULE IX

                                          SHORT-TERM BORROWINGS
                                           Year ended Dec. 31,
                                          (thousands of dollars)

          Column A             Column B       Column C      Column D    Column E      Column F
                                                             Maximum     Average      Weighted
          Category of                         Weighted        amount      amount       average
          aggregate             Balance        average   outstanding outstanding interest rate
          short-term          at end of       interest    during the  during the    during the
          borrowings             period           rate        period      period     period(2)

     Commercial paper(1)

                                                                          
          1993                  $81,500          3.31%      $ 83,600     $38,727         3.20%
          1992                  $29,200          3.57%      $102,200     $73,222         3.99%
          1991                  $89,300          4.64%      $125,400     $92,102         6.35%

     __________________
<FN>
     (1)  Commercial paper has specific due dates.
     (2)  Total interest expense divided by average daily amount outstanding (Column E).





















                                                    40




                                                                 SCHEDULE X

                   SUPPLEMENTARY INCOME STATEMENT INFORMATION
                               Year ended Dec. 31,
                             (thousands of dollars)


          Column A                                      Column B           
                                          Charged to costs and expenses


     Item                                   1993       1992      1991

     1.   Maintenance and repairs        $71,397    $68,501   $65,535

     3.   Taxes-Other than income taxes, 
          are classified as follows:

          Real and personal property     $31,664    $28,383   $28,002
          State gross receipts            23,101     21,769    18,776
          FICA                            10,563     10,235     9,940
          Local franchise                 18,796     18,485    18,230
          Other                            1,536      1,828     1,631
                                          85,660     80,700    76,579
          Charged to utility tax expense  83,513     78,626    74,581
          Charged to other accounts      $ 2,147    $ 2,074   $ 1,998
     __________________

     The information  called for in items 2, 4 and  5 of this schedule were
     charged to operating expenses and were not material.


     Item 9.   CHANGES  IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
               AND FINANCIAL DISCLOSURE.

          During the period from Jan. 1,  1992 to the date of this  report,
     the company has not had and has not filed with the Commission a report
     as to  any changes  in or  disagreements with  accountants, accounting
     principles or practices, or financial statement disclosure.




















                                       41





                                    PART III


     Item 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.

          (a)  Information concerning  Directors of  Tampa  Electric is  as
               follows:


                                Principal Occupation During
                                   Last Five Years and             Director
     Name                  Age   Other Directorships Held            Since 

     DuBose Ausley         56   Chairman, Macfarlane, Ausley,          1992
                                Ferguson & McMullen (attorneys), 
                                Tallahassee, Florida; formerly 
                                President, Ausley, McMullen, 
                                McGehee, Carothers & Proctor, 
                                P.A. (attorneys), Tallahassee, 
                                Florida; also a director Sprint 
                                Corporation and Capital City Bank 
                                Group Inc.

     Sara L. Baldwin       62   Private Investor; formerly             1980
                                Vice President, Baldwin and 
                                Sons, Inc. (insurance agency), 
                                Tampa, Florida

     Hugh L. Culbreath     72   Retired; Formerly Chairman of          1971
                                the Board of TECO Energy, Inc. 
                                and Tampa Electric Company

     James L. Ferman, Jr.  50   President, Ferman Motor Car            1985
                                Company, Inc. (automobile 
                                dealerships), Tampa, Florida

     Edward L. Flom        64   Retired; Formerly Chairman             1980
                                of the Board and Chief Executive 
                                Officer, Florida Steel 
                                Corporation (production and 
                                fabrication of steel products), 
                                Tampa, Florida; also a director 
                                of Outback Steakhouse, Inc.

     Henry R. Guild, Jr.   65   President and Director, Guild,         1980
                                Monrad & Oates, Inc. (private 
                                trustees and family investment 
                                advisers), Boston, Massachusetts 

     Timothy L. Guzzle     57   Chairman of the Board,                 1988
                                President and Chief Executive 
                                Officer, TECO Energy, Inc.; 
                                formerly Chief Operating Officer  
                                of TECO Energy, Inc.; also a 
                                director of NationsBank Corporation



                                       42




     Charles H. Ross, Jr.  56   Executive Vice President               1987
                                Emeritus of Merrill Lynch & 
                                Co., Inc., New York, New York; 
                                also a director of Merrill Lynch 
                                Ready Assets Trust, Merrill Lynch 
                                Capital Fund, Inc. and Enhance 
                                Financial Services Group, Inc.

     Robert L. Ryan        50   Senior Vice President and              1991
                                Chief Financial Officer, 
                                Medtronic, Inc. (medical
                                devices manufacturer), 
                                Minneapolis, Minnesota;
                                formerly Vice President-Finance,
                                Union Texas Petroleum Holdings, 
                                Inc. (independent oil and gas 
                                exploration and production), 
                                Houston, Texas; also a director 
                                of Riverwood International 
                                Corporation and Inter-Regional
                                Financial Group, Inc.

     J. Thomas Touchton    55   Managing Partner, The                  1987
                                Witt-Touchton Company (private 
                                investment partnership), Tampa,
                                Florida; also a director of 
                                19 Merrill Lynch-sponsored 
                                mutual funds

     John A. Urquhart      65   President, John A. Urquhart            1991
                                Associates (management 
                                consultants) Fairfield, 
                                Connecticut; formerly Senior 
                                Vice President, G. E. Industrial 
                                & Power Systems, General Electric 
                                Company; also a director of Enron 
                                Corp., Hubbell, Inc. and Aquarion 
                                Company

     James O. Welch, Jr.   62   Retired; formerly Vice Chairman,       1976
                                RJR Nabisco, Inc. and Chairman, 
                                Nabisco Brands, Inc.; also a 
                                director of Vanguard Group of 
                                Investment Companies

          The  term of  office of each  director extends to  and expires at
     the  next  annual meeting  of shareholders,  scheduled  to be  held on
     April 19, 1994,  and until a  successor is  elected and  qualified. At
     present, all the directors of  the company are also directors  of TECO
     Energy.









                                       43




     (b)  Information  concerning  the current  executive  officers of  the
          company is as follows:
                                             Current Positions and
                                             Principal Occupations
     Name                    Age             During Last Five Years

     Timothy L. Guzzle       57              Chairman of the Board and
                                             Chief Executive Officer, 1991
                                             to date; also Chairman of the
                                             Board, President and Chief
                                             Executive Officer of TECO
                                             Energy, Inc.

     Girard F. Anderson      62              President and Chief Operating
                                             Officer; also Executive Vice
                                             President-Utility Operations
                                             of TECO Energy, Inc.

     William N. Cantrell     41              Vice President-Energy
                                             Resources Planning, 1991 to
                                             date; and prior thereto, Vice
                                             President-Regulatory Affairs.

     Lester L. Lefler        53              Vice President-Controller.

     Alan D. Oak             47              Vice President, Treasurer and
                                             Chief Financial Officer 1992 
                                             to date; and prior thereto 
                                             Chief Financial Officer; also
                                             Senior Vice President-Finance,
                                             Treasurer and Chief Financial
                                             Officer of TECO Energy, Inc.

     William T. Snyder, Jr.  56              Vice President-Customer
                                             Services and Marketing.

     Keith S. Surgenor       46              Vice President-Human
                                             Resources; also Vice
                                             President-Human
                                             Resources of TECO Energy, Inc.

     Robert F. Tomczak       58              Vice President-Production,
                                             Operations and Maintenance.

     Harry I. Wilson         55              Vice President-Transmission
                                             and Distribution.

          There  is no family relationship between any of the persons named
     in response to Item 10. The term of  office of each officer extends to
     and expires at  the meeting  of the Board  of Directors following  the
     next annual meeting of shareholders, scheduled to be held on April 19,
     1994, and until a successor is elected and qualified.







                                       44




     Item 11.  EXECUTIVE COMPENSATION.

     The following  tables set  forth certain compensation  information for
     the Chief Executive Officer of the company and each of  the four other
     most highly compensated executive  officers of the company. The  share
     amounts reported below  have been restated to  reflect the two-for-one
     stock split on August 30, 1993.




















































                                       45 
 


                                        Summary Compensation Table

                                                                   Long-term
                                                                 Compensation
                                              Annual                Awards           All Other
     Name and                              Compensation        Shares Underlying   Compensatio
     Principal Position      Year      Salary        Bonus    Options/SARs(#)(1)        (2)    

                                                                       
     Timothy L. Guzzle(3)     1993    $443,750     $194,000         40,000            $28,267
     Chairman of the Board    1992     421,250      176,000         40,000             26,248
     Chief Executive Officer  1991     401,250      161,000         40,000             24,025

     Girard F. Anderson(3)    1993     284,750      110,000         24,000             23,290
     President and Chief      1992     258,750      100,000         24,000             21,333
     Operating Officer        1991     234,000       95,000         24,000             18,498

     Alan D. Oak(3)           1993     192,875       74,000         13,000             12,843
     Vice President,          1992     184,875       68,000         13,000             12,039
     Treasurer and Chief      1991     177,500       62,000         13,000             11,222
     Financial Officer

     Keith S. Surgenor(3)     1993     179,500       60,000         12,000             11,986
     Vice President-          1992     170,500       53,000         12,000             11,175
     Human Resources          1991     163,750       52,000         12,000             10,428

     Robert F. Tomczak        1993     133,500       34,000          4,600              8,931
     Vice President-          1992     128,000       31,000          5,000             11,261
     Production, Operations   1991     123,750       28,000          5,000             10,440
     and Maintenance
     _________________ 
<FN>
     (1)  Limited stock  appreciation rights  were  awarded in  tandem with  options granted.    See
          Footnote (1) under "Option/SAR Grants In Last Fiscal Year" below.
     (2)  The reported amounts  for 1993  consist of $924  of premiums  paid by the  company to  the
          Executive Supplemental Life Insurance Plan for each of the named executive  officers, with
          the  balance in  each  case  being employer  contributions  under  the TECO  Energy  Group
          Retirement Savings Plan and Excess Retirement Savings Plan.
     (3)  Includes compensation for services as an officer of TECO Energy.

     The  Compensation Committee  of  the TECO  Energy Board  may
     award options to  purchase common stock  of TECO Energy  and
     stock  appreciation  rights  (SARs)   to  officers  and  key
     employees of TECO Energy and its subsidiaries, including the
     company. Information for 1993  with respect to stock options

                                  46 
 


     and stock  appreciation rights  granted or exercised  by the
     executive officers named in the "Summary Compensation Table"
     is set forth in the following two tables.

                                  Option/SAR Grants In Last Fiscal Year
                                             Individual Grants          

                           Number of     %of Total
                            Shares      Options/SARs     Exercise                      Grant  
                          Underlying     Granted To      or Base                       Date  
                         Options/SARs   Employees In      Price     Expiration        Present  
     Name                 Granted(1)    Fiscal Year     Per Share      Date          Value(2)   

                                                                      
     Timothy L. Guzzle      40,000         9.62%        $23.5625    4/19/2003        $136,663
     Girard F. Anderson     24,000         5.77%        $23.5625    4/19/2003        $ 81,998
     Alan D. Oak            13,000         3.13%        $23.5625    4/19/2003        $ 44,415
     Keith S. Surgenor      12,000         2.88%        $23.5625    4/19/2003        $ 40,999
     Robert F. Tomczak       4,600         1.11%        $23.5625    4/19/2003        $ 15,716

     _________________ 
<FN>
     (1)  Stock appreciation  rights which can only be exercised  during limited periods following a
          change  in control of TECO Energy  (LSAR) were awarded in tandem  with the options granted
          in  1993.  Upon exercise  of an LSAR, the  holder is entitled to an  amount based upon the
          highest  price paid  or offered  for TECO  Energy Common  Stock during  the  30-day period
          preceding  a change in control of TECO Energy.  Under the LSARs, a change in control means
          in general  the acquisition  by any  person of 30%  or more  of the  Common Stock of  TECO
          Energy, the change in a  majority of the directors or the approval by  the shareholders of
          a merger or consolidation of TECO  Energy in which TECO Energy's shareholders  do not have
          majority voting power in the  surviving entity or of the liquidation or sale of the assets
          of TECO Energy. The exercise of an option or LSAR  results in a corresponding reduction in
          the other.

     (2)  The  values shown  are  based on  the Binomial  Option  Pricing Model  (a  variant of  the
          Black-Scholes model)  and are  stated in  current annualized  dollars on  a present  value
          basis.   The key  assumptions used in  the Binomial Option  Pricing Model for  purposes of
          this calculation include the following:  (a) a 7% discount  rate; (b) a volatility  factor
          based upon  the 5-year  history of  actual stock  price average quarterly  return for  the
          period ending December  31, 1992;  (c) a  dividend factor  based upon  the 5-year  average
          dividend paid for the  period ending December 31, 1992;  (d) the 10-year option  term; and
          (e) the  closing price  of the  TECO  Energy's Common  Stock on  December 31,  1992.   The
          present  value of the  options reported has  been calculated by  multiplying $23.5625, the
          share price on the date  of grant, by 0.145, the Binomial Option Pricing  Model ratio, and

                                                    47




          by the number  of shares underlying the  options granted.   The actual value an  executive
          may realize will  depend upon the  extent to  which the stock  price exceeds the  exercise
          price on the date  the option is exercised.   Accordingly, the value, if any,  realized by
          an executive will not necessarily be the value determined by the Binomial Option.








































                                                    48




                         Aggregated Option/SAR Exercises In Last Fiscal Year and
                                     Fiscal Year-End Option/SAR Value


                                                     Number of                  
                                                       Shares          Value of 
                                                     Underlying      Unexercised
                                                    Unexercised     In-The-Money
                                                   Options/SARs     Options/SARs
                                                    at Year-End      at Year-End
                        Number of
                  Shares Acquired         Value    Exercisable/     Exercisable/
     Name             On Exercise      Realized   Unexercisable    Unexercisable

     Timothy L. Guzzle     40,000      $357,500       120,000/0       $361,250/0
     Girard F. Anderson    22,400      $183,400        72,000/0       $216,750/0
     Alan D. Oak           16,000      $153,500        39,000/0       $117,406/0
     Keith S. Surgenor     30,000      $267,250        54,000/0       $262,375/0
     Robert F. Tomczak      5,000      $ 26,719         9,600/0       $ 18,906/0


                                              Pension Table


          The  following  table shows  estimated  annual benefits
     payable under  the company's pension  plan arrangements  for
     the named executive officers other than Mr. Guzzle.

                      Years of Service                      Years of Service 
     Final Three                          Final Three
     Years Average                        Years Average
     Earnings           15    20 or more  Earnings             15     20 or more
     $100,000        $ 45,000   $ 60,000  $450,000          $202,500    $270,000
      150,000          67,500     90,000   500,000           225,000     300,000
      200,000          90,000    120,000   550,000           247,500     330,000
      250,000         112,500    150,000   600,000           270,000     360,000
      300,000         135,000    180,000   650,000           292,500     390,000
      350,000         157,500    210,000   700,000           315,000     420,000
      400,000         180,000    240,000





                                                    49 
 



          The  annual  benefits payable  to  each  of the  named  executive
     officers  are equal to a  stated percentage of  such officer's average
     earnings for the three  years before his retirement multiplied  by his
     number of years of service, up  to a stated maximum. The amounts shown
     in the  table are based  on 3%  of such earnings  and a maximum  of 20
     years of service; the amounts payable to Mr. Guzzle are based on 6% of
     earnings and a maximum of 10 years of service.

          The earnings  covered by  the pension plan  arrangements are  the
     same as those reported as salary and bonus in the summary compensation
     table above. Years of service for  the named executive officers are as
     follows: Mr. Guzzle  (6 years); Mr. Anderson  (34 years); Mr. Oak  (20
     years);  Mr. Surgenor  (5  years); and  Mr.  Tomczak (31  years).  The
     pension benefit is  computed as a straight-life  annuity commencing at
     age 62  and is reduced by an officer's Social  Security  benefits.  If
     Mr. Guzzle's employment is terminated by the Corporation without cause
     or  by Mr. Guzzle  for good reason  (as such terms are  defined in Mr.
     Guzzle's employment agreement  referred to below), his age and service
     for  purposes   of  determining   benefits  under  the   pension  plan
     arrangements are increased by two years.


     Severance Agreements

          TECO Energy has  severance agreements  with 25  officers of  TECO
     Energy  and its  subsidiaries, including  the five  executive officers
     named  above,  under   which  payments  will  be  made  under  certain
     circumstances following a change in control of TECO Energy (as defined
     in  the severance agreements).   Each officer is  required, subject to
     the terms of the severance agreements, to remain in the employ of TECO
     Energy or its subsidiaries  for one year following a  potential change
     in control (as  defined) unless  a change in  control earlier  occurs.
     The  severance  agreements provide  that  in the  event  employment is
     terminated by the company or TECO Energy without cause (as defined) or
     by the officer for good reason (as defined) following a certain change
     in control, TECO Energy will make a lump sum severance  payment to the
     officer of  two times  (three times  in the cases  of Mr.  Guzzle, Mr.
     Anderson, Mr. Oak  and Mr.  Surgenor) annual salary  and bonus.   Upon
     such  termination, the  severance agreements also  provide for:  (i) a
     cash payment  equal to the  additional retirement benefit  which would
     have been  earned under TECO  Energy's retirement plans  if employment
     had  continued for two years (three years  in the cases of Mr. Guzzle,
     Mr.  Anderson, Mr.  Oak  and  Mr.  Surgenor)  following  the  date  of
     termination, and (ii)  participation in the life, accident  and health
     insurance plans of  TECO Energy for such  period except to the  extent
     such benefits are provided by a subsequent employer.

          Any benefit  payable to the  officer in connection  with a change
     in control or termination  of employment will be reduced to the extent
     that such  payment, together with  any other compensation  provided by
     TECO  Energy, would not be deductible by  TECO Energy, or by any other
     person making such payment,  pursuant to Section 280G of  the Internal
     Revenue Code of 1986.

          TECO  Energy  has   an  employment  agreement  with   Mr.  Guzzle
     providing  that if his employment is terminated by TECO Energy without
     cause  or by  Mr.  Guzzle for  good reason,  he will  receive benefits

                                       50




     similar  to those  provided under  the severance  agreements described
     above based upon  a level of two  times annual salary and  bonus and a
     two-year benefit continuation period.

     Compensation of Directors

          Directors of TECO  Energy and  the company who  are not  officers
     are  paid a  combined  annual retainer  of $17,500  ($20,000 effective
     April 1, 1994) and a fee  of $1,000 for attendance at each meeting  of
     the  Board of Directors and $500 ($600 for the Committee Chairman) for
     attendance at each meeting of a Committee of the Board.  Directors may
     elect to defer these amounts with  earnings credited at either the 90-
     day U.S.  Treasury bill rate  or a rate  equal to the total  return on
     TECO Energy's Common Stock.













































                                       51




          1991  Director  Stock Option  Plan.  TECO Energy  has  a Director
     Stock  Option  Plan in  which all  directors of  the company  and TECO
     Energy  participate except Mr.  Guzzle.   The plan  provides automatic
     annual  grants of  options to  purchase shares  of TECO  Energy common
     stock to each non-employee  director serving on the TECO  Energy Board
     at the time of grant.  The  exercise price is the fair market value of
     the common stock on the date of grant, payable in whole  or in part in
     cash or  TECO Energy common stock.   The plan provides  for an initial
     grant of options  for 10,000 shares  of TECO Energy  common stock  for
     each  new director following election to the Board and an annual grant
     of  options for  2,000 shares  for each  continuing director.   Annual
     grants are made on the  first trading day of TECO Energy  common stock
     after each  annual  meeting.  The options are  exercisable immediately
     and expire  ten years after grant  or earlier as provided  in the plan
     following termination of service on the Board.

          Directors' Retirement Plan.  All Directors who have  completed 60
     months of service as a Director  of TECO Energy and who have  not been
     employees  of TECO Energy  or any of its  subsidiaries are eligible to
     participate  in  a Directors'  Retirement  Plan.  Under this  plan,  a
     retired Director or his or her surviving spouse will receive a monthly
     retirement benefit equal  to the  monthly retainer last  paid to  such
     Director  for services  as a  Director of  TECO Energy  or any  of its
     subsidiaries. Such payments will continue for the lesser of the number
     of  months the  Director  served as  a  Director  or 120  months,  but
     payments will in any event cease upon the death of the Director or, if
     the Director's spouse survives the Director, the death of the spouse. 


     Item 12.  SECURITY  OWNERSHIP   OF  CERTAIN   BENEFICIAL  OWNERS   AND
               MANAGEMENT.

          All  outstanding shares  of  Tampa  Electric's common  stock  are
     owned by  TECO Energy. As of Jan.  31, 1994, none of  the directors or
     executive officers of Tampa  Electric or TECO Energy owned  any shares
     of the preferred stock of Tampa Electric. 























                                       52




          The following table sets  forth the shares of TECO  Energy common
     stock  beneficially owned  as  of  Jan.  31,  1994  by  directors  and
     nominees,  the executive  officers named  in the  summary compensation
     table  and  Tampa Electric's  directors  and executive  officers  as a
     group. Except  as otherwise noted,  such persons have  sole investment
     and  voting  power  over the  shares.  The  number of  shares  of TECO
     Energy's common stock beneficially owned by  any director or executive
     officer or  by all  directors  and executive officers as  a group does
     not exceed 1% of such shares outstanding at Jan. 31, 1994. 


        Name                                      Shares (1)

        DuBose Ausley                              15,886
        Sara L. Baldwin                            16,918(2)
        Hugh L. Culbreath                          71,875(3)
        James L. Ferman, Jr.                       21,740(4)
        Edward L. Flom                             16,784(5)
        Henry R. Guild, Jr.                       128,598(6)
        Timothy L. Guzzle                         143,110(7)(8)
        Charles H. Ross, Jr.                       32,000(9)
        Robert L. Ryan                             16,000(10)
        J. Thomas Touchton                         18,000(11)
        John A. Urquhart                           15,150(12)
        James O. Welch, Jr.                        22,600(13)
        Girard F. Anderson                        103,809(7)(14)
        Alan D. Oak                                67,938(7)(15)
        Keith S. Surgenor                          63,736(7)(16)
        Robert F. Tomczak                          24,846(7)(17)
        20 directors and executive 
          officers as a group (including 
          those named above)                      870,575(7)(18)
        __________________

      (1) The amounts listed include the following shares that  are subject
          to  options granted under  TECO Energy's stock  option plans: Mr.
          Ausley,  12,000  shares;  Mrs.  Baldwin  and  Messrs.  Culbreath,
          Ferman,  Flom, Guild,  Ross,  Ryan,  Touchton and  Welch,  14,000
          shares each;  Mr. Urquhart,  11,200 shares;  Mr. Guzzle,  120,000
          shares; Mr. Anderson, 72,000 shares; Mr. Oak, 39,000 shares;  Mr.
          Surgenor,  54,000 shares;  Mr.  Tomczak,  9,600 shares;  and  all
          directors and executive officers as a group, 528,600 shares.
      (2) Includes 350 shares  held by a trust  of which Mrs. Baldwin  is a
          trustee.
      (3) Includes 8,000  shares owned by Mr. Culbreath s wife, as to which
          shares he disclaims any beneficial interest.
      (4) Includes 2,584 shares owned  jointly by Mr. Ferman and  his wife.
          Also  includes 436 shares owned by Mr. Ferman s wife, as to which
          shares he disclaims any beneficial interest.
      (5) Includes  1,596  shares owned  by Mr.  Flom s  wife, as  to which
          shares he disclaims any beneficial interest.
      (6) Includes  108,598 shares held  by trusts of which  Mr. Guild is a
          trustee. Of these shares, 49,875 are held for the benefit of  Mr.
          Culbreath   and  are  also  included  in  the  number  of  shares
          beneficially owned by him.




                                       53




      (7) The amounts  listed include the following shares that are held by
          the benefit  plans of TECO  Energy for an  officer's account: Mr.
          Guzzle, 1,110 shares; Mr. Anderson, 7,889 shares;  Mr. Oak, 8,808
          shares; Mr.  Surgenor, 1,482 shares;  Mr. Tomczak,  9,578 shares;
          and  all directors  and  executive officers  as  a group,  55,517
          shares.
      (8) Includes  20,000  shares owned  by  a Revocable  Living  Trust of
          which Mr. Guzzle is a trustee.
      (9) Includes 12,000  shares owned jointly  by Mr. Ross  and his wife.
          Also includes 6,000 shares  owned by Mr. Ross' wife,  as to which
          shares he disclaims any beneficial interest.
     (10) Includes 2,000 shares owned jointly by Mr. Ryan and his wife.
     (11) Includes 4,000  shares owned by a Revocable Living Trust of which
          Mr. Touchton is the sole trustee.
     (12) Includes 1,000 shares owned  by Mr. Urquhart's wife, as  to which
          shares he disclaims any beneficial interest.
     (13) Includes 2,000  shares owned by a  charitable foundation of which
          Mr. Welch is a trustee.
     (14) Includes 800 shares  owned by  Mr. Anderson's wife,  as to  which
          shares he disclaims any beneficial interest.
     (15) Includes 20,130 shares owned jointly by Mr. Oak and his wife.
     (16) Includes  8,162  shares owned  jointly  by Mr.  Surgenor  and his
          wife.
     (17) Includes 324 shares owned jointly by Mr. Tomczak and his wife.
     (18) Includes  a total  of 54,800  shares owned  jointly with spouses.
          Also includes a total  of 17,832 shares  owned by spouses, as  to
          which shares beneficial interest is disclaimed.


     Item 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

          TECO  Energy paid  $842,755 for  legal  services rendered  during
     1993 by Ausley, McMullen, McGehee, Carothers & Proctor, P.A., of which
     Mr.  Ausley served  as  the President.   The  above  firm merged  with
     another  law  firm effective  Feb.  1,  1994, and  Mr.  Ausley  is now
     Chairman of the successor, Macfarlane, Ausley, Ferguson & McMullen.

          In addition, reference is made to Note H on page 32.





















                                       54




                                     PART IV

     Item 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON  FORM
               8-K.

     (a)  1.  Financial Statements - See index on page 17.

          2.  Financial Statement Schedules - See index on page 17.

          3.  Exhibits
              *3.1   Articles    of    Incorporation   (Exhibit    3.1   to
                     Registration Statement No. 2-70653).
              *3.2   Bylaws as amended  on April 16, 1991  (Exhibit 3, Form
                     10-Q  for  quarter  ended  March  31,  1991  of  Tampa
                     Electric Company).
              *4.1   Indenture of  Mortgage among  Tampa Electric  Company,
                     State Street Trust  Company and First Savings  & Trust
                     Company  of Tampa, dated  as of Aug.  1, 1946 (Exhibit
                     7-A to Registration Statement No. 2-6693).
              *4.2   Ninth  Supplemental Indenture,  dated as  of April  1,
                     1966,  to  Exhibit  4.1  (Exhibit  4-k,   Registration
                     Statement No. 2-28417).
              *4.3   Thirteenth Supplemental  Indenture, dated  as of  Jan.
                     1,  1974, to Exhibit  4.1 (Exhibit 2-g-l, Registration
                     Statement No. 2-51204).
              *4.4   Sixteenth  Supplemental Indenture,  dated  as of  Oct.
                     30, 1992,  to Exhibit  4.1 (Exhibit 7-A,  Registration
                     Statement No. 2-6693).
              *4.5   Eighteenth Supplemental Indenture, dated as of  May 1,
                     1993,  to Exhibit 4.1 (Exhibit  4.1, Form 10-Q for the
                     quarter ended June 30, 1993).
              *4.6   Installment  Purchase  and  Security Contract  between
                     the   Hillsborough   County   Industrial   Development
                     Authority  and Tampa  Electric  Company, dated  as  of
                     March  1, 1972  (Exhibit  4.9, Form  10-K for  1986 of
                     Tampa Electric Company).
              *4.7   First  Supplemental Installment  Purchase and Security
                     Contract, dated  as of  Dec. 1,  1974  (Exhibit  4.10,
                     Form 10-K for 1986 of Tampa Electric Company).
              *4.8   Third  Supplemental  Installment   Purchase  Contract,
                     dated as of May 1,  1976 (Exhibit 4.12, Form  10-K for
                     1986 of Tampa Electric Company).
              *4.9   Installment    Purchase    Contract     between    the
                     Hillsborough County  Industrial Development  Authority
                     and Tampa Electric Company,  dated as of Aug.  1, 1981
                     (Exhibit 4.13,  Form 10-K for  1986 of Tampa  Electric
                     Company).
              *4.10  Amendment   to  Exhibit  A   of  Installment  Purchase
                     Contract, dated  as of  April 7,  1983 (Exhibit  4.14,
                     Form 10-K for 1989 of Tampa Electric Company).
              *4.11  Second  Supplemental  Installment  Purchase  Contract,
                     dated as  of June 1, 1983 (Exhibit 4.16, Form 10-K for
                     1985 of Tampa Electric Company).
              *4.12  Third  Supplemental  Installment   Purchase  Contract,
                     dated as  of Aug. 1, 1989 (Exhibit 4.16, Form 10-K for
                     1989 of Tampa Electric Company).
               4.13  Installment    Purchase    Contract     between    the
                     Hillsborough County  Industrial Development  Authority

                                       55




                     and Tampa Electric Company,  dated as of Jan. 31, 1984
                     (Exhibit 4.16,  Form 10-K for  1983 of Tampa  Electric
                     Company).
              *4.14  First  Supplemental  Installment   Purchase  Contract,
                     dated as  of Aug. 2, 1984 (Exhibit 4.17, Form 10-K for
                     1984 of Tampa Electric Company).
              *4.15  Second  Supplemental  Installment  Purchase  Contract,
                     dated as of July 1,  1993 (Exhibit 4.3, Form  10-Q for
                     the quarter ended June 30, 1993).
              *4.16  Loan  and   Trust  Agreement  among  the  Hillsborough
                     County   Industrial   Development   Authority,   Tampa
                     Electric Company and  NCNB National  Bank of  Florida,
                     dated  as of Sept.  24, 1990  (Exhibit 4.1,  Form 10-Q
                     for  the  quarter  ended  Sept.   30,  1990  of  Tampa
                     Electric Company).
              *4.17  Loan and Trust  Agreement, dated as  of Oct. 26,  1992
                     among  the Hillsborough  County Industrial Development
                     Authority,  Tampa Electric Company  and NationsBank of
                     Florida, N.A., as trustee (Exhibit  4.2, Form 10-Q for
                     the quarter  ended Sept.  30, 1992  of Tampa  Electric
                     Company).
              *4.18  Loan and Trust  Agreement, dated as of  June 23, 1993,
                     among  the Hillsborough  County Industrial Development
                     Authority,  Tampa Electric Company  and NationsBank of
                     Florida, N.A., as trustee (Exhibit  4.2, Form 10-Q for
                     the  quarter ended  June 30,  1993  of Tampa  Electric
                     Company).
              *10.1  Agreement  between   Belcher  Oil  Company  and  Tampa
                     Electric Company, dated  as of Sept. 1,  1987 (Exhibit
                     10.4, Form 10-K for 1987 of Tampa Electric Company).
              *10.2  Settlement Agreement  between Pyramid  Mining,   Inc.,
                     Pyramid Equipment,  Inc. and  Tampa Electric  Company,
                     dated as  of Oct. 7, 1987 (Exhibit 10.5, Form 10-K for
                     1987 of Tampa Electric Company).
              *10.3  Coal Mining Lease Contract by  and among Cal-Glo Coal,
                     Inc. and  Jack Stewart and  Tom Gambrel consisting  of
                     Underground  Coal Mining  Lease Contract  dated  as of
                     May 3,  1967; Assignment of Lease dated as of Feb. 13,
                     1969;  Supplemental Coal  Lease dated  as  of May  13,
                     1970; Sublease  Agreement dated as  of Oct. 18,  1972;
                     Amendment  to  Lease  dated  as   of  Jan.  26,  1976;
                     Amendment to  Lease dated  as of  March 31, 1978;  and
                     Consent dated as of May 15, 1978  (Exhibit 10.12, Form
                     10-K for 1986 of Tampa Electric Company).
              *10.4  Lease and  Agreement dated as of July 23, 1979 between
                     Tampa    Electric   Company    and   Franklin   Street
                     Associates, Ltd. (Exhibit  10.13, Form  10-K for  1986
                     of Tampa Electric Company).
              *10.5  1980 Stock  Option and  Appreciation  Rights Plan,  as
                     amended on July  18, 1989 (Exhibit 28.1, Form 10-Q for
                     quarter ended June 30, 1989 of TECO Energy, Inc.).
              *10.6  Directors' Retirement Plan, dated as  of Jan. 24, 1985
                     (Exhibit 10.23, Form  10-K for 1986 of  Tampa Electric
                     Company).
              *10.7  Supplemental Executive  Retirement Plan, as amended on
                     July 18,  1989 (Exhibit 10.14,  Form 10-K for  1989 of
                     Tampa Electric Company).


                                       56




              *10.8  TECO   Energy,   Inc.  Group   Supplemental  Executive
                     Retirement  Benefits  Trust  Agreement  Amendment  and
                     Restatement,  dated  as  of  April  27, 1989  (Exhibit
                     10.15, Form 10-K for 1989 of Tampa Electric Company).
              *10.9  Annual Incentive Compensation Plan  for Tampa Electric
                     Company, as amended  on April 27, 1989  (Exhibit 28.1,
                     Form 10-Q for  quarter ended March  31, 1989 of  Tampa
                     Electric Company).
              *10.10 TECO   Energy,  Inc.   Group  Supplemental  Disability
                     Income  Plan, dated  as  of  March 20,  1989  (Exhibit
                     10.19, Form 10-K for 1988 of Tampa Electric Company).
              *10.11 Forms of  Severance  Agreements between  TECO  Energy,
                     Inc.  and  certain  senior  executives,  dated  as  of
                     various dates  in 1989 (Exhibit  10.18, Form 10-K  for
                     1989 of Tampa Electric Company).
              *10.12 TECO Energy, Inc.  1990 Equity Incentive Plan (Exhibit
                     10.1, Form  10-Q for the quarter  ended March 31, 1990
                     of TECO Energy, Inc.).
              *10.13 TECO Energy, Inc.  1991 Director Stock Option  Plan as
                     amended on  Jan. 21,  1992 (Exhibit  10.20, Form  10-K
                     for 1991 of Tampa Electric Company).
              *10.14 Supplemental  Executive  Retirement  Plan  for  T.  L.
                     Guzzle, as  amended on  July 20,  1993 (Exhibit  10.1,
                     Form  10-Q for  the quarter  ended Sept.  30, 1993  of
                     Tampa Electric Company).
              *10.15 Terms of  R. H. Kessel's Employment,  dated as of Dec.
                     1, 1989  (Exhibit 10.20, Form  10-K for  1989 of  TECO
                     Energy, Inc.).
              *10.16 Supplemental  Executive  Retirement  Plan  for  R.  H.
                     Kessel, dated as of Dec. 4, 1989 (Exhibit  10.16, Form
                     10-K for 1989 of TECO Energy, Inc.).
              *10.17 Supplemental   Executive  Retirement   Plan  for  H.L.
                     Culbreath,  as  amended  on  April  27,  1989 (Exhibit
                     10.14, Form 10-K for 1989 of TECO Energy, Inc.).
              *10.18 Supplemental Executive  Retirement Plan for  A.D. Oak,
                     dated as  of July 20,  1993 (Exhibit  10.2, Form  10-Q
                     for  the  quarter  ended  Sept.   30,  1993  of  Tampa
                     Electric Company).
              *10.19 Supplemental   Executive  Retirement   Plan  for  K.S.
                     Surgenor, dated  as of  July 20,  1993 (Exhibit  10.3,
                     Form 10-Q  for the  quarter ended  Sept.  30, 1993  of
                     Tampa Electric Company).
              *10.20 Terms of  T.L. Guzzle's employment,  dated as of  July
                     20, 1993 (Exhibit 10, Form 10-Q for the quarter  ended
                     June 30, 1993 of Tampa Electric Company).
              *10.21 Supplemental   Executive  Retirement   Plan  for  G.F.
                     Anderson (Exhibit  10.4,  Form  10-Q for  the  quarter
                     ended Sept. 30, 1993 of Tampa Electric Company).
              *10.22 TECO   Energy,  Inc.   Group  Supplemental  Retirement
                     Benefits  Trust  Agreement Amendment  and Restatement,
                     dated  as  of  April 27,  1989  as  amended  by  First
                     Amendment to  1989 Restatement  dated as  of July  20,
                     1993 (Exhibit  10.5, Form 10-Q  for the quarter  ended
                     Sept. 30, 1993 of Tampa Electric Company).





                                       57




              12     Ratio of earnings to fixed charges.
              23     Consent of Independent Accountants.
              24.1   Power of Attorney.
              24.2   Certified copy  of  resolution  authorizing  Power  of
                     Attorney.
              _____________
              * Indicates exhibit  previously filed with the Securities  and
              Exchange  Commission  and incorporated  herein  by  reference.
              Exhibits  filed  with  periodic  reports   of  Tampa  Electric
              Company  and TECO  Energy, Inc.  were filed  under  Commission
              File Nos. 1-5007 and 1-8180, respectively.


          Executive Compensation Plans and Arrangements

          Exhibits 10.5  through 10.22  above are  management contracts  or
     compensatory  plans or  arrangements  in which  executive officers  or
     directors of TECO Energy, Inc. and its subsidiaries participate.

     (b)  The company filed no reports on Form 8-K during the last  quarter
          of 1993.






































                                       58




                                   SIGNATURES

          Pursuant to  the  requirements  of Section  13  or 15(d)  of  the
     Securities Exchange Act of  1934, the Registrant has duly  caused this
     report to be signed on  its behalf by the undersigned,  thereunto duly
     authorized,  in the city of Tampa and the state of Florida on the 28th
     day of March, 1994. 

                                    TAMPA ELECTRIC COMPANY

                                    By  T. L. GUZZLE*                
                                        T. L. GUZZLE, Chairman of the Board
                                        and Chief Executive Officer

          Pursuant to  the requirements of  the Securities Exchange  Act of
     1934, this  report has  been signed  by the following  persons in  the
     capacities indicated on March 28, 1994:

          Signature               Title

       T. L. GUZZLE*        Chairman of the Board, 
       T. L. GUZZLE         Director and Chief Executive 
                            Officer (Principal Executive 
                            Officer)

       A. D. OAK*           Vice President, Treasurer 
       A. D. OAK            and Chief Financial Officer 
                            (Principal Financial Officer)

       /s/ L. L. LEFLER     Vice President-Controller
       L. L. LEFLER

       C. D. AUSLEY*        Director
       C. D. AUSLEY

       S. L. BALDWIN*       Director
       S. L. BALDWIN

       H. L. CULBREATH*     Director
       H. L. CULBREATH

       J. L. FERMAN, JR.*   Director
       J. L. FERMAN, JR.

       E. L. FLOM*          Director
       E. L. FLOM

       H. R. GUILD, JR.*    Director
       H. R. GUILD, JR.

       C. H. ROSS, JR.*     Director
       C. H. ROSS, JR.







                                       59




       R. L. RYAN*          Director
       R. L. RYAN

       J. T. TOUCHTON*      Director
       J. T. TOUCHTON

       J. A. URQUHART*      Director
       J. A. URQUHART
      
       J. O. WELCH, JR.*    Director
       J. O. WELCH, JR.

       *By: /s/ L. L. LEFLER             
           L. L. LEFLER, Attorney-in-fact













































                                       60





                                INDEX TO EXHIBITS


     Exhibit                                                           Page
       No.  Description                                                 No.

     3.1    Articles of Incorporation (Exhibit 3.1 to                     *
            Registration Statement No. 2-70653).
     3.2    Bylaws as amended on April 16, 1991                           *
            (Exhibit 3, Form 10-Q for quarter ended March 31,
            1991 of Tampa Electric Company).
     4.1    Indenture of Mortgage among Tampa Electric                    *
            Company, State Street Trust Company and First Savings &
            Trust Company of Tampa, dated as of Aug. 1, 1946 
            (Exhibit 7-A to Registration Statement No. 2-6693).
     4.2    Ninth Supplemental Indenture, dated as of                     *
            April 1, 1966, to Exhibit 4.1 (Exhibit 4-k, 
            Registration Statement No. 2-28417).
     4.3    Thirteenth Supplemental Indenture, dated as of                *
            Jan. 1, 1974, to Exhibit 4.1 (Exhibit 2-g-l, 
            Registration Statement No. 2-51204).
     4.4    Sixteenth Supplemental Indenture, dated as of                 *
            Oct. 30, 1992, to Exhibit 4.1 (Exhibit 7-A, 
            Registration Statement No. 2-6693).
     4.5    Eighteenth Supplemental Indenture, dated as of May 1,         *
            1993, to Exhibit 4.1 (Exhibit 4.1, Form 10-Q for the quarter
            ended June 30, 1993).
     4.6    Installment Purchase and Security Contract                    *
            between and the Hillsborough County Industrial 
            Development Authority and Tampa Electric Company,
            dated as of March 1, 1972 (Exhibit 4.9, Form 10-K 
            for 1986 of Tampa Electric Company).
     4.7    First Supplemental Installment Purchase and                   *
            Security Contract, dated as of Dec. 1, 1974
            (Exhibit 4.10, Form 10-K for 1986 of 
            Tampa Electric Company).
     4.8    Third Supplemental Installment Purchase Contract,             *
            dated as of May 1, 1976 (Exhibit 4.12, Form 10-K 
            for 1986 of Tampa Electric Company).
     4.9    Installment Purchase Contract between the                     *
            Hillsborough County Industrial Development 
            Authority and Tampa Electric Company, dated 
            as of Aug. 1, 1981 (Exhibit 4.13, Form 10-K for 
            1986 of Tampa Electric Company).
     4.10   Amendment to Exhibit A of Installment Purchase                *
            Contract, dated as of April 7, 1983 (Exhibit 4.14, 
            Form 10-K for 1989 of Tampa Electric Company).
     4.11   Second Supplemental Installment Purchase Contract,            *
            dated as of June 1, 1983 (Exhibit 4.16, Form 10-K 
            for 1985 of Tampa Electric Company).
     4.12   Third Supplemental Installment Purchase Contract,             *
            dated as of Aug. 1, 1989 (Exhibit 4.16, Form 10-K 
            for 1989 of Tampa Electric Company).





                                       61




     4.13   Installment Purchase Contract between the                    61
            Hillsborough County Industrial Development 
            Authority and Tampa Electric Company, dated 
            as of Jan. 31, 1984 (Exhibit 4.16, Form 10-K 
            for 1983 of Tampa Electric Company).
     4.14   First Supplemental Installment Purchase Contract,             *
            dated as of Aug. 2, 1984 (Exhibit 4.17, Form 10-K
            for 1984 of Tampa Electric Company).
     4.15   Second Supplemental Installment Purchase Contract,            *
            dated as of July 1, 1993 (Exhibit 4.3, Form 10-Q 
            for the quarter ended June 30, 1993).
     4.16   Loan and Trust Agreement among the Hillsborough               *
            County Industrial Development Authority, 
            Tampa Electric Company and NCNB National 
            Bank of Florida, dated as of Sept. 24, 1990
            (Exhibit 4.1, Form 10-Q for the quarter ended
            Sept. 30, 1990 of Tampa Electric Company).
     4.17   Loan and Trust Agreement, dated as of                         *
            Oct. 26, 1992 among the Hillsborough County 
            Industrial Development Authority, Tampa Electric 
            Company and NationsBank of Florida, N.A., as 
            trustee (Exhibit 4.2, Form 10-Q for the quarter 
            ended Sept. 30, 1992 of Tampa Electric Company).
     4.18   Loan and Trust Agreement, dated as of June 23,                *
            1993, among the Hillsborough County Industrial
            Development Authority, Tampa Electric Company and
            NationsBank of Florida, N.A., as trustee (Exhibit 4.2,
            Form 10-Q for the quarter ended June 30, 1993 of Tampa
            Electric Company).
     10.1   Agreement between Belcher Oil Company and                     *
            Tampa Electric Company, dated as of Sept. 1, 1987 
            (Exhibit 10.4, Form 10-K for 1987 of 
            Tampa Electric Company).
     10.2   Settlement Agreement between Pyramid Mining, Inc.,            *
            Pyramid Equipment, Inc. and Tampa Electric Company,
            dated as of Oct. 7, 1987 (Exhibit 10.5, Form 10-K 
            for 1987 of Tampa Electric Company).
     10.3   Coal Mining Lease Contract by and among                       *
            Cal-Glo Coal, Inc. and Jack Stewart and 
            Tom Gambrel consisting of Underground Coal 
            Mining Lease Contract dated as of May 3, 1967;
            Assignment of Lease dated as of Feb. 13, 1969;
            Supplemental Coal Lease dated as of May 13, 1970;
            Sublease Agreement dated as of Oct. 18, 1972;
            Amendment to Lease dated as of Jan. 26, 1976;
            Amendment to Lease dated as of March 31, 1978;
            and Consent dated as of May 15, 1978 (Exhibit 10.12,
            Form 10-K for 1986 of Tampa Electric Company).
     10.4   Lease and Agreement dated as of July 23, 1979                 *
            between Tampa Electric Company and Franklin 
            Street Associates, Ltd. (Exhibit 10.13, 
            Form 10-K for 1986 of Tampa Electric Company).
     10.5   1980 Stock Option and Appreciation Rights Plan,               *
            as amended on July 18, 1989 (Exhibit 28.1, 
            Form 10-Q for quarter ended June 30, 1989 of 
            TECO Energy, Inc.).



                                       62




     10.6   Directors' Retirement Plan, dated as of                       *
            Jan. 24, 1985 (Exhibit 10.23, Form 10-K for 1986 of
            Tampa Electric Company).
     10.7   Supplemental Executive Retirement Plan, as amended            *
            on July 18, 1989 (Exhibit 10.14, Form 10-K for 1989 of
            Tampa Electric Company).
     10.8   TECO Energy, Inc. Group Supplemental Executive                *
            Retirement Benefits Trust Agreement Amendment and 
            Restatement, dated as of April 27, 1989 (Exhibit 10.15,
            Form 10-K for 1989 of Tampa Electric Company).
     10.9   Annual Incentive Compensation Plan for Tampa                  *
            Electric Company, as amended on April 27, 1989 (Exhibit
            28.1, Form 10-Q for quarter ended March 31, 1989 of
            Tampa Electric Company).
     10.10  TECO Energy, Inc. Group Supplemental Disability               *
            Income Plan, dated as of March 20, 1989 (Exhibit 10.19,
            Form 10-K for 1988 of Tampa Electric Company).
     10.11  Forms of Severance Agreements between TECO Energy, Inc.       *
            and certain senior executives, dated as of various dates
            in 1989 (Exhibit 10.18, Form 10-K for 1989 of Tampa
            Electric Company).
     10.12  TECO Energy, Inc. 1990 Equity Incentive Plan                  *
            (Exhibit 10.1, Form 10-Q for the quarter ended March 31,
            1990 of TECO Energy, Inc.).
     10.13  TECO Energy, Inc. 1991 Director Stock Option Plan             *
            as amended on Jan. 21, 1992 (Exhibit 10.20, Form 10-K
            for 1991 of Tampa Electric Company).
     10.14  Supplemental Executive Retirement Plan for                    *
            T. L. Guzzle, as amended on July 20, 1993 (Exhibit 10.1,
            Form 10-Q for the quarter ended Sept. 30, 1993 of Tampa
            Electric Company).
     10.15  Terms of R. H. Kessel's Employment, dated as of               *
            Dec. 1, 1989 (Exhibit 10.20, Form 10-K for 1989 of TECO
            Energy, Inc.).
     10.16  Supplemental Executive Retirement Plan for                    *
            R. H. Kessel, dated as of Dec. 4, 1989 (Exhibit 10.16,
            Form 10-K for 1989 of TECO Energy, Inc.).
     10.17  Supplemental Executive Retirement Plan for                    *
            H.L. Culbreath, as amended on April 27, 1989 (Exhibit
            10.14, Form 10-K for 1989 of TECO Energy, Inc.).
     10.18  Supplemental Executive Retirement Plan for                    *
            A.D. Oak, dated as of July 20, 1993 (Exhibit 10.2, Form
            10-Q for the quarter ended Sept. 30, 1993 of Tampa
            Electric Company).
     10.19  Supplemental Executive Retirement Plan for                    *
            K.S. Surgenor, dated as of July 20, 1993 (Exhibit 10.3,
            Form 10-Q for the quarter ended Sept. 30, 1993 of Tampa
            Electric Company).
     10.20  Terms of T.L. Guzzle's employment, dated                      *
            as of July 20, 1993 (Exhibit 10, Form 10-Q for the
            quarter ended June 30, 1993 of Tampa Electric Company).








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     10.21  Supplemental Executive Retirement Plan for                    *
            G.F. Anderson (Exhibit 10.4, Form 10-Q for the quarter
            ended Sept. 30, 1993 of Tampa Electric Company).
     10.22  TECO Energy, Inc. Group Supplemental                          *
            Retirement Benefits Trust Agreement Amendment and
            Restatement, dated as of April 27, 1989 as amended by
            First Amendment to 1989 Restatement dated as of July 20,
            1993 (Exhibit 10.5, Form 10-Q for the quarter ended
            Sept. 30, 1993 of Tampa Electric Company).
     12     Ratio of earnings to fixed charges.                          88
     23     Consent of Independent Accountants.                          89
     24.1   Power of Attorney.                                           90
     24.2   Certified copy of resolution authorizing Power               92
            of Attorney.
     _____________

     *      Indicates exhibit previously filed with the Securities and
            Exchange Commission and incorporated herein by reference.
            Exhibits filed with periodic reports of Tampa Electric Company
            and TECO Energy, Inc. were filed under Commission File Nos.
            1-5007 and 1-8180, respectively.






































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