EXHIBIT 21
                              SUBSIDIARIES OF THE REGISTRANT

    TECO  Energy,  Inc.  owns,  directly or indirectly,  all  the
    common stock of or a partnership  interest in 46 subsidiaries,
    except as indicated below. All of the companies are organized
    under the laws of Florida except as indicated.
    Tampa Electric Company 
      TERMCO, Inc. 
      Power Engineering & Construction, Inc.
    TECO Diversified, Inc.
     TECO Transport & Trade Corporation
         Electro-Coal Transfer Corporation (a Louisiana corporation)
            G C Service Company, Inc.
         Gulfcoast Transit Company 
         Mid-South Towing Company           
         TECO Towing Company
      TECO Coal Corporation (a Kentucky corporation)
         Gatliff Coal Company (a Kentucky corporation)
         Rich Mountain Coal Company (a Tennessee corporation)
         Clintwood Elkhorn Mining Company (a Kentucky corporation)
         Pike-Letcher Land Company (a Kentucky corporation)
         Premier Elkhorn Coal Company (a Kentucky corporation)
      TECO Properties Corporation 
         CPSC, Inc. 
         City Plaza Partners, Ltd. 
         30th Street R & D Park, Inc.
         UTC II, Inc.
         Tampa Essex, Inc.
         Tampa Essex Place Associates, Ltd.
      TECO Coalbed Methane, Inc. (an Alabama corporation)
    TECO Finance, Inc.
    TECO Oil & Gas, Inc.
    TECO Investments, Inc.
    TECO Power Services Corporation 
      Hardee Power I, Inc. 
      Hardee  Power II, Inc.
         Hardee Power Partners, Ltd. 
      Lake County Power Resources, Inc.
      TPS Clean Coal, Inc. 
      TPS Guatemala One, Inc.
      Tampa Centro Americana de Electricidad, Limitada*
           (a Guatemalan Limited Liability Company)
      TPS Operations Company
      TPS Panama One, Inc. 
      TECO Energy Source, Inc.
      TPS International Power, Inc.(a Cayman Islands Limited Liability
          Company)
         TPS San Jose International, Inc.(a Cayman Islands Limited
             Liability Company)
            TPS San Jose, LDC (a Cayman Islands Limited Durations Company)
               TPS San Jose Power Holding Company, Ltd. (a Cayman Islands
                   Limited Liability Company)**
                  Central Generadora Electrica San Jose, Limitada***
                    (a Guatemalan Limited Liability Company)
         Tasajero I, LDC (a Cayman Islands Limited Durations company)
    Bosek, Gibson and Associates, Inc.
    TeCom Inc. 
                      
    *    TPS Guatemala One, Inc. had an 98.15-percent partnership interest
         at Dec. 31, 1996.
    **   TPS San Jose, LDC had a 50 percent partnership interest at
         Dec. 31, 1996
    ***  TPS San Jose Power Holding Company, Ltd. had a 46-percent partnership
         interest at Dec. 31, 1996.










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