Exhibit 12

                             TAMPA ELECTRIC COMPANY

                       RATIO OF EARNINGS TO FIXED CHARGES

     The following table sets forth the company's ratio of earnings to fixed
charges for the periods indicated.

    Three Months      Twelve Months
       Ended              Ended                 Year Ended December 31,
                                      ----------------------------------------
   June 30, 2001      June 30, 2001   2000  1999(1)   1998(2)    1997  1996(3)
- --------------------  -------------   ----  ------    -------    ----  -------

      4.17x                4.09x      4.14x   3.82x    4.51x     4.38x   4.40x

     For the purposes of calculating these ratios, earnings consist of income
before income taxes and fixed charges. Fixed charges consist of interest on
indebtedness, amortization of debt premium, the interest component of rentals
and preferred stock dividend requirements.

(1)  Includes the effect of one-time, pretax charges totaling $18.3 million
     recorded in the third and fourth quarters of 1999.  Charges consisted of
     the following: $10.5 million recorded based onFlorida Public Service
     Commission audits of Tampa Electric's 1997 and 1998 earnings which limited
     Tampa Electric's equity ratio to 58.7 percent; $3.5 million to resolve
     litigation filed by the U.S. Environmental Protection Agency; and $4.3
     million for corporate income tax settlements related to prior years' tax
     returns. The effect of these charges was to reduce the ratio of earnings to
     fixed charges. Had these charges been excluded from the calculation, the
     ratio of earnings to fixed charges would have been 4.61x for the year ended
     Dec. 31, 1999.

(2)  Includes the effect of one-time, pretax charges totaling $16.9 million, as
     more fully explained in Note I to Item 8, Financial Statements and
     Supplementary Data of the Company's Annual Report on Form 10-K for the 1998
     fiscal year. The effect of these charges was to reduce the ratio of
     earnings to fixed charges. Had these charges been excluded from the
     calculation, the ratio of earnings to fixed charges would have been 4.66x
     for the year ended Dec. 31, 1998.

(3)  Amounts have been restated to reflect the merger of Peoples Gas System,
     Inc., with and into Tampa Electric Company.