Regulatory (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Regulatory Assets and Regulatory Liabilities

Details of the regulatory assets and liabilities as of Dec. 31, 2013 and 2012 are presented in the following table:

Regulatory Assets and Liabilities
(millions)	Dec. 31, 2013		Dec. 31, 2012
Regulatory assets:
Regulatory tax asset (1)	$	67.4	$	67.2
Other:
Cost-recovery clauses		6.1		42.9
Postretirement benefit asset		182.7		276.1
Deferred bond refinancing costs (2)		8.0		9.2
Environmental remediation		51.4		46.9
Competitive rate adjustment		4.1		4.1
Other		7.7		6.5
Total other regulatory assets		260.0		385.7
Total regulatory assets		327.4		452.9
Less: Current portion		34.3		70.3
Long-term regulatory assets	$	293.1	$	382.6
Regulatory liabilities:
Regulatory tax liability (1)	$	9.8	$	14.6
Other:
Cost-recovery clauses		54.5		73.9
Transmission and delivery storm reserve		56.1		50.4
Deferred gain on property sales (3)		2.0		3.4
Provision for stipulation and other		0.8		1.0
Accumulated reserve - cost of removal		594.0		593.7
Total other regulatory liabilities		707.4		722.4
Total regulatory liabilities		717.2		737.0
Less: Current portion		85.8		105.6
Long-term regulatory liabilities	$	631.4	$	631.4

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

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

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

Regulatory Assets and Related Recovery Period

All regulatory assets are recovered through the regulatory process. The following table further details the regulatory assets and the related recovery periods:

Regulatory assets
(millions)	Dec. 31, 2013		Dec. 31, 2012
Clause recoverable (1)	$	10.2	$	47.0
Components of rate base (2)		185.6		279.1
Regulatory tax assets (3)		67.4		67.2
Capital structure and other (3)		64.2		59.6
Total	$	327.4	$	452.9

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

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

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

Tampa Electric Company [Member]

Schedule of Regulatory Assets and Regulatory Liabilities

Details of the regulatory assets and liabilities as of Dec. 31, 2013 and 2012 are presented in the following table:

Regulatory Assets and Liabilities
(millions)	Dec. 31, 2013		Dec. 31, 2012
Regulatory assets:
Regulatory tax asset (1)	$	67.4	$	67.2
Other:
Cost-recovery clauses		6.1		42.9
Postretirement benefit asset		182.7		276.1
Deferred bond refinancing costs (2)		8.0		9.2
Environmental remediation		51.4		46.9
Competitive rate adjustment		4.1		4.1
Other		7.7		6.5
Total other regulatory assets		260.0		385.7
Total regulatory assets		327.4		452.9
Less: Current portion		34.3		70.3
Long-term regulatory assets	$	293.1	$	382.6
Regulatory liabilities:
Regulatory tax liability (1)	$	9.8	$	14.6
Other:
Cost-recovery clauses		54.5		73.9
Transmission and delivery storm reserve		56.1		50.4
Deferred gain on property sales (3)		2.0		3.4
Provision for stipulation and other		0.8		1.0
Accumulated reserve - cost of removal		594.0		593.7
Total other regulatory liabilities		707.4		722.4
Total regulatory liabilities		717.2		737.0
Less: Current portion		85.8		105.6
Long-term regulatory liabilities	$	631.4	$	631.4

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

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

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

Regulatory Assets and Related Recovery Period

All regulatory assets are recovered through the regulatory process. The following table further details the regulatory assets and the related recovery periods:

Regulatory assets
(millions)	Dec. 31, 2013		Dec. 31, 2012
Clause recoverable (1)	$	10.2	$	47.0
Components of rate base (2)		185.6		279.1
Regulatory tax assets (3)		67.4		67.2
Capital structure and other (3)		64.2		59.6
Total	$	327.4	$	452.9

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

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

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